Home Loan Defaulter

Usually in case of Home Loan Bank will always attach your Home Property as a Collateral. If the Bank Decides to close the Loan account. First, they will issue the Possession Notice to You and Gives 30 to 60 days time to pay the Balance amount in One-shot. Even then if you fail to pay will issue Auction Notice usually 30 days. Then they will auction the house and recover their dues. If the Bank does not get the recover full. Then they will act against you and your Guarantor.

The case for loan recovery is filed in Debt Recovery Tribunal and not in Civil Court. First of all, the Bank will serve a notice to repay the secured loan. Within 60 days from the date of receipt of notice you can't submit a proper reply to the notice, the bank will approach the District Magistrate to take the possession of the property. After satisfying with bank claim the DM will pass the necessary order. Then you have to approach DRT.

They cannot recover forcibly. You may ask them to approach the Civil Court.

You'll receive a notice from the advocate of Bank and then the case will be filed in DRT.

Pay all due installments otherwise, you will be in trouble. Your matter may go into DRT under SARFAESI ACT.

They can file Cheque bounce case as blank cheque is in their possession. Not directly but later on they claim for possession of the property in default payment with cost and interest on the amount due.