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Delay in loan installment payment

Ahmed7861

A friend of mine haven't received his salary last month. He has to pay his monthly loan installment but didn't have any cash  to pay the installment this month. so I just want to know that, if he delay his this month loan installment then it Will be any problem for him legally?
What if he pays the installment after one month delay?

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logicalindian

There could be a penalty applied by the bank, his loan contract  document should have all the details.

XTang

Check with the bank.  In all likelihood, they will levy some penalty or charges on him if he pays a month late.