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G PRAKASH (CONSULTANT)     21 May 2012

Credit card & personal loan repayment


Dear All,

     Kindly note that, some of the people had borrowed money from me by given cheque leaf and  stamp paper as security.  But most of them are not repaid properly.  So far as per my calculation the NPA is Rs. 4 lakhs.  Meanwhile, i've dues in  HDFC, ICICI, SBI CREDIT card and personal loan.  Since, the money was given by me  is not coming, i'm in a situation of unable to repay the dues properly from last month.  My intention is pay the dues to the banks.  But, unfortunately, at present i'm in a situation of, unable to pay the dues immediately.   But i've to pay the EMIs'.  If  i get time for a period of one year i could repay the dues.  Shall i get the time frame from the bankers.  What should i do for getting time limit.

     I've given this reason to the collection executives & Agents who belongs to the above mentioned banks, while they contacted me to my mobile and land line.   But they've not accepted and they come to my home and harrassed me regularly even i answered over phone.  Kindly clarify me would they come my home even i answered over phone.

     Kindly advice me, shall i give police complaint and take any other steps for my safeguard.


 5 Replies

Kumar Doab (FIN)     21 May 2012

You may approach a competent and exeprienced  lawyer and issue notice to the person who have borrowed from you.YOu need more than simple follow up.

The CC comapnies have nothing to do with your transactions with other indivisuals.You can try for OTS, payment in instalments.You should negotiate hard. You may obtain a prior confirmation preferably by letter under original seal and signture by competent employee of the comapnies or by email, stating that the settlement shall have no negative bearing on your loan taking ability in future,your name shall be called back from all credit bureaus, credit rating agnecies including but not limited to :

CIBIL – Credit Information Bureau (India) Limited (


·                  Experian - Experian Credit Information Company of India Private Limited (

·                  Equifax - Equifax Credit Information Services Private Limited (

·                  MCNF database (Master Card Negative Feedback)

 and your status shall not be updated as written off or any other which shall affect your credit score.

KR Rajesh (Office Clerk)     22 May 2012

Dear Sir,

      I am serving in the Indian Army and I had taken taken a personal loan of Rs 2.70 lacs from SBI from my salary accountin Jan 2012 and subsequently I have been transferred to a new place and due to some problems in the documentation my salary is not being credited to my bank from the pay disbursing office.   So I have become a defaulter and the bank authorities have issued a notice on my mail ID and to my guarontors informing me that legal action would be taken against me and also they would be publishing the matter in the local newspapers/ads.    As I have been transferred to some other place I have not been able to visit the bank personally and apprise my problems so a have sent a e-mail to the bank apprising them of my problems and asked them for some more time.   I have requested the bank authorities that I will be paying the amount due as on date and will be paying the pending EMIs regularly once my dispute with the pay disbursing office is cleared.

     I would request you to kindly advise me on this matter and also let me know what action to be taken by me at this juncture ?

Sandhya (IT Staff)     25 May 2012

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VINOD VERMA (C E O)     02 June 2012

There is no need to worry, you can simply ask the bank for re scheduling of your loan citing the reason for non payment of EMI's. Moreover, bank can not publish your name in any newspaper/ads without completing the formalities of getting an ortder from the competant court of law that proves you are a defaulter. The threats being received by you must be from their collection agency, write down a complaint to the Ombudsman, RBI, of your area, giving the precise details. i.e. all the copies of the emails exchanged.Still if you face any problem, you can be in touch with me through my email id: for a free help.

Sudhir Lal (Expert)     19 April 2013

I had a similar problem with CIBIL. I got in touch with Credit Sudhaar( ) They are a crack team run by professionals from the financial services industry. Excellent responses, always available to take my queries.. These guys at Credit Sudhaar are ever reliable. you can contact them on 022-67886788

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