Personal loan- settlement

Querist : Anonymous (Querist) 23 April 2018 This query is : Resolved
Hello team/advocates I need your suggestion on my below request. I have a personal loan from HDFC Bank. I have paid 26 instalments with out any break. In my complete history of loans starts from 2004 onwards I am a prompt payer because I am a software employee. Now due to my health issues I have left my job. I don't want to go for software job because of my health issues. I don't want to be bankrupt. I have some money so I can go for settlement also to close the loan. So please suggest me with options available to me. Thanks Raj

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Ms.Usha Kapoor (Expert) 24 April 2018
You go for settlement of the loan and take up a job which suits your health and simultaneously your pay.

Kumar Doab (Expert) 24 April 2018
If you pay in full then there is NO issue.........and settlement is not required.

Settlement is adverse entry and if any amount from debt including interest is Written Off IT may spoil your credit worthiness in record of credit bureau's e.g; CIBIL...

Negotiate properly keeping in mind and get written declaration that M/s HDFC bank shall call back your name from defaulters list and will not include your name in list of defaulters and will cleanse your credit history and settlement shall have NO adverse bearing on your credit worthiness and loan taking ability ...
Try for IT..

P. Venu (Expert) 25 April 2018
Yes, you can. But ensure that the settlement takes place after due negotiations with the Bank.

Kumar Doab (Expert) 25 April 2018
Pls post with your ID and you can get many replies.
Your ID does not mean your email id or phone number and don’t post these also.

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