+117 votes
in Motorcycles and Motorcycling by
edited by

Your answer

Your name to display (optional):
Privacy: Your email address will only be used for sending these notifications.
+105 votes
by

The actions taken by an NBFC in the situation you described would depend on the terms and conditions outlined in your loan agreement or financing contract.

Generally speaking, if you have missed a payment or made a partial payment, it's important to contact the NBFC or the lender as soon as possible to discuss your situation and explore available options. They may be willing to work out a repayment plan or negotiate alternative arrangements.

In some cases, if the non-payment or irregular payment continues for an extended period, the lender may take actions to recover the outstanding amount, which can include additional fees, penalties, or even repossession of the bike. However, the specific actions and policies can vary depending on the lender and local laws.

To get accurate and detailed information about your specific situation, it is best to contact the NBFC directly and discuss the matter with their representatives. They will be able to provide you with the most accurate and relevant information based on your loan agreement and their internal policies.

Welcome to Askmotopros Q&A, where you can ask any question about motorcycles
...