Dear Smitha,
Since you have signed the contract to make payment within 6 months, you need not worry about your boss's threats. You plan out to pay within that period.Pl. remember to pay only by chaque. So that you will have a proof. Also send the chaque with a covering letter that you are paying so much amount towards laon taken, & now only so much amount remains due.
Please note that he can't do anything to you legally or otherwise, as long as you are able to pay within the stipulated time.
No need to unnecessarily take loan at higher rate of interest, if you can manage within your present salary.
Regards
Virchand Vira
Since you have signed the contract to make payment within 6 months, you need not worry about your boss's threats. You plan out to pay within that period.Pl. remember to pay only by chaque. So that you will have a proof. Also send the chaque with a covering letter that you are paying so much amount towards laon taken, & now only so much amount remains due.
Please note that he can't do anything to you legally or otherwise, as long as you are able to pay within the stipulated time.
No need to unnecessarily take loan at higher rate of interest, if you can manage within your present salary.
Regards
Virchand Vira