Pre-dispute settlement
Rahul
(Querist) 26 December 2014
This query is : Resolved
Thanks for all of your advice,
Today I received a call from Bank and he inform me to pay immediately the first installment (actually first payment within 7 days from the settlement date, i.e. 20th December, and now is more than 12 days), otherwise the bank will issue Warrant against me. The settlement letter the Bank will issue after 6 months., otherwise he inform me to pay atleast 25%. AND also I have received a email from the bank 2 days back informing me to pay the settlement amount before 31st otherwise the bank will taken action against me in applicable law.
Please Advice your legal opinion in this matter. Thanks & Regards, Rahul
T. Kalaiselvan, Advocate
(Expert) 27 December 2014
If the settlement conditions have been agreeable to you, better go ahead with availing the chance offered by bank.
P. Venu
(Expert) 27 December 2014
Pl. post the query in the original link.
Devajyoti Barman
(Expert) 27 December 2014
First get the settlement letter containing the agreed terms and conditions. Do not make any payment on verbal assurances until and unless you receive the settlement letter in original.
Rajendra K Goyal
(Expert) 27 December 2014
Better get the settlement terms from the Bank in writing. Verbal settlement has no value. If you pay any amount without agreeable settlement terms, it would amount to acknowledgement of full debts.
ajay sethi
(Expert) 27 December 2014
post your query in same thread
Rahul
(Querist) 27 December 2014
I was using Credit Card and due to financial difficulties I could not pay a single amount last 1 year and outstanding reach around Rs.3 lakhs and I have received a letter from Bank to settle at LokAdalat. They settled Rs.1.3 Lakhs on 13 Dec at LokAdalat., and subsequently Bank advice they will issue a letter stating that the settlement amount and EMI you should pay for 10 next months and you can start. Till now I have received any letter from the Bank but I have received call from the Bank for 1st EMI.,I ask them about the settlement letter they advice that letter will issue after you pay the entire amount.
Please advice can I start pay the EMI amount or I should wait the settlement letter from the Bank before pay.
Appreciate your replies. Regards, Rahul
Previous query:my question was:Resolved.
Thanks for all of your advice,
Today I received a call from Bank and he inform me to pay immediately the first installment (actually first payment within 7 days from the settlement date, i.e. 20th December, and now is more than 12 days), otherwise the bank will issue Warrant against me. The settlement letter the Bank will issue after 6 months., otherwise he inform me to pay atleast 25%. AND also I have received a email from the bank 2 days back informing me to pay the settlement amount before 31st otherwise the bank will taken action against me in applicable law.
Please Advice your legal opinion in this matter. Thanks & Regards,
ajay sethi
(Expert) 28 December 2014
we had advised you to obtain certified copy of order passed by lok adalat . you can make payment in installments as per order passed .
Biswanath Roy
(Expert) 30 December 2014
Disclose the entire contents of the order of Lok Adalat by return to enable us to give you appropriate advice and guidance.
