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srimannarayana ponnam   16 September 2015

Due repayment of personal loan after 14 yrs

i have take personal loan in the year 2004 from ICICIBank of amount Rs.90,000/- premimum fixed was Rs.3391/- (total instalment was 36*3391), i have paid 13 instalments, due to some health problems i have not able to pay further instalments after 6 months an agent came to my place and collected arrears of loan instalments i.e is Rs. 22,000/- but i have lost the acknowledgment, after that no one was come to my working place or my residence palce and also no intimation was issued to me after one year i was retired during the year 2007,  after my retirement fatal accident by car and i was bed ridden for 2 years, after lapse of 11 years of period one collecting agent come to my new house  and insisted me to pay Rs.77,866/- in two instalments. but now agent is offering me to pay Rs.40,000/- settlement but where iam already paid Rs. 66000/- so asking him for Rs.24,000/- settlemnt

can you please advise how do i go for settlement, shall i go for bank or can i settle with the agent



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 3 Replies

puja saxena (private practice)     16 September 2015

You should go to bank and clarify situation of your loan there must be some records lying with bank regarding your Bank loan

advocatepassy@gmail.com 971794 (Advocate)     16 September 2015

How can be so callous. You should have taken no demand certificate from the company

Kumar Doab (FIN)     16 September 2015

The debt is hopelessly time barred.

Before admitting debt i writing consult your lawyer.


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