Personal Loan/Credit card
subrahmanyam
(Querist) 03 October 2009
This query is : Resolved
sir,
I am having personal loan and credit card from xxx bank. I have not been paying the Emi and credit card due as I got loss in my business where I invested. I also do job which has very less salary I got a notice from bank I dont know wheather to take the notice or not. my residence was changed I come to know about the notice thru neighbours so please suggest what to do. I am not in a position to pay the due now.
A V Vishal
(Expert) 03 October 2009
Escaping does not help subramanyam, you have loss in business is understandable but by trying to evade the bank and credit card company, you are inviting trouble for yourself, you will be ineligible to apply for any loans or cards in the future since the entire database of loans customers and defaulters is being credit rated and on a click of a button your credit history will be known to your future creditors, moreover the bank can also proceed legally by filing police complaint. I suggest you approach the banker and credit card company with a request to restructure your loan.
Sarvesh Kumar Sharma Advocate
(Expert) 03 October 2009
subramanyam ji,
u say that u r getting very less salery then why u not cut sum ammount in that salery for the loan if u comtect to the bank manager and say him clearly that u r not in the position to diposit the dues.but yr intetion is clear that u want to pay the loan.and a part of salery u r redy to pay.
Raj Kumar Makkad
(Expert) 03 October 2009
opinion of Vishal and Sarvesh is perfect. Approach bank authorities voluntarily and tel them whole position. The solution lies with bank officials and not in ur fleeing from the situation.
