Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

YAHEYA (STUDENT)     21 May 2015

Home loan settlement

hello

iam new at this,,my dad took a home loan of 4 lakh from hdfc bank and payed emi regularly for 3years.

it was a 5year plan due to health reasons he discontinued the loan,,the bank send us notice stating about defaults back in the year2007 ,,it was then rs 2lakh with additional interest

loan period:2002-2007

now they say it is about 6.35 lakh with all interests.now i want to settle my dad account in about 2.5-3lakh......

can it be done????if yes how???if no why???

pease help me & my dad;;;;

thank u 



Learning

 1 Replies

Kumar Doab (FIN)     21 May 2015

If there is no admission if debt since 2007 then it might be barred by limitation and bank might be interested to settle. However settlement would be adverse entry for credit history....even if NOC is issued. A lawyer well versed with such matters may help to settle with clean CIBIL history.

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register