Information on bank loan settlement

Querist : Anonymous (Querist) 08 July 2019 This query is : Resolved
I took the bank load of 3,95,000. I have paid 3,80,000 but still, 665000 amount is overdue. Can I go for One Time Settle. What impact I have on my cibil and If It will impact Can I improve it over the time?

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SHIRISH PAWAR, 7738990900 (Expert) 08 July 2019
For one time settlement you have to negotiate with bank. If you fail to repay the loan, bank will report it to cibil.

P. Venu (Expert) 08 July 2019
Any concession availed of in settling the loan would affect your CIBIL score.

Sudhir Kumar, Advocate (Expert) 09 July 2019
better ask bank.

Dr J C Vashista (Expert) 09 July 2019
No legal dispute involved, consult your banker or consult a local prudent lawyer for better appreciation of facts, guidance and proceeding.

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