Hi,

I had availed a car loan from Bank of Maharashtra in Dec 2005. during 2006-2007 financial year, due to some financial difficulties because of an accident i was not able to pay my EMIs. Once i got fine, i approached the bank and spoke to the Bank manager and explained the situation and gave a written request that i'll be making payment what ever the dues are during my EMI payments henceforth and requested for extension in case i am unable to make huge payment at once. The Manager had obliged and the issue was resolved. I am making my EMI payments regularly hence forth and had no issues till recently.

now there is a different branch manager who has come in and this person insists that i pay off my overdues immediately or else they will proceed with recovery. I have explained the manager that i have been making my EMI payment on time and regularly and have requested for time for payment of overdues which occurred during 2007. This manager is not willing to talk and insists that i make the payment immediately with in weeks time. I still have my loans tenure till Jan 2011.

Can the bank proceed with recovery in case i am unable to make payment of 60,000 immediately. Cant a time extension can be given as i had requested earlier.

I love my car and i can no way part way with it. All i want is time to completely clear off my loan amount.

please help.