personal loan on credit card defaults what bank action
love
(Querist) 13 April 2011
This query is : Resolved
dear sir,
i have a credit card of Hdfc bank. bank give me personal loan on my credit card on behalf of my saving a/c. i m paying my emis from two years. but unfortunately i cant pay emis from 4 months. then i m not staying that place,where i giving Address in a/c. i m not give any Document or bank Cheques in bank. but i give my PAN no. in bank. what they can track me. and i want open another saving a/c for some saving ,
can i open bank a/c.
plz tell me what action can take by Bank for recovery of loan and what should i can.
if i collect some money i m pay whole amount to bank. but what i can till then.
plz give me ur answer.
Advocate. Arunagiri
(Expert) 13 April 2011
Be honest, disclose your change of address to the bank.
Talk to the bankers they will extend some time. Normaly the bank will not initiate stringent action for a 4 months delay in EMI.
RAJU O.F.,
(Expert) 14 April 2011
My sincere advice would be to contact the HDFC bank and seek time for regularising the dues and for settlement. Otherwise, banks have their own systems, through private detectives,to know your new address and whereabouts, at your cost. Better avoid such unpleasant situation.
