Reply to notice sent by lawyer for emi not paid

Response to Notice Dated ___ Regarding Loan EMI Default

Dear Sir/Madam,

I acknowledge receipt of your notice dated ______ regarding the EMI default.
I wish to state that I am currently facing severe financial hardship due to loss of employment and have no steady income at present. Because of this genuine difficulty, I am temporarily unable to make the pending EMI payments.

I am not intentionally avoiding repayment and I fully intend to clear the dues as soon as my financial condition improves. I request you to kindly grant me some time and allow a reasonable restructuring/settlement plan so that I can repay the amount without further hardship.

Are you being declared bankrupt by competent court? Have given the name of money lender and dues as your liability? if answer is yes, then money lender cannot recover the amount. You can reply the notice accordingly but if your answer is negative then the excuses of being jobless is not a valid ground to escape from the liability to repay the loan amount and you are legally bound to repay the loan amount with interest. In court you can negotiate the terms to repay the loan amount in installment.