Personal loan defaulter
Vinod
(Querist) 16 June 2017
This query is : Resolved
I had taken personal loan of icici bank year 2007...i had paid them last 11 months EMIs but after dat im unable to pay EMIs. Now year 2017 i had joined some financial compamy and this company asked me for Icici bank salary account. Mean while from 2008 i had changed my staying to somewhere in mumbai. Now question is in my case personal loan is limit barriation scenrio. And if not then after 10 years what action will be taken by Icici bank...can they withdrwal my money as it salary issue by my company without my concern, has they have any right sabout dat.
Kumar Doab
(Expert) 16 June 2017
The lender may very well without any concern for 'limit barriation scenrio' as posted by you, act in case of available funds in a/c with lender.
Kumar Doab
(Expert) 16 June 2017
You can request the employer to open salary a/c in Bank of your choice, or request to pay by Cheque/DD alongwith salary slip and decide further as per their response.
Or you can settle the matter with M/s ICICI Bank.
Rajendra K Goyal
(Expert) 16 June 2017
If the Bank deduct the outstanding, you have to take legal recourse to get it back by proving no liability existed. The process would be very difficult, with uncertain outcome, time and cost consuming.
If you feel there exist no liability, open account with another Bank.
Kumar Doab
(Expert) 16 June 2017
Usually employers have arrangements with more than one bank for payment of salary.
Check with payroll/HR.
You alone need to act.
