Atanu Ghosh 19 February 2016

How could I get settlement my NPA education loan?

I have received a education loan amount of 125000 from SBI,at 2011. I have paid 1,28000 upto December 2016. Due to some unavoidable circumstance I could not pay my emi amount 8,645 for last two months. Previously I was unable to pay 3 emi. Now my loan goes to NPA . bank manager ask me to pay total 97,000 within 1week. But I don't have any money to pay instantly. I asked him to give some time, but today one officer from bank and one police constable has reached my home, ask to pay, unless they will arrest me. I am preparing myself for competitive exam. I have completed my graduation in 2013. Kindly suggest me how could I handle this situation. Thank you

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FREDYCHARLES RK - Bangalore (Advocate) 19 February 2016

Hi don't take this lightly, do approach the bank and give them an undertaking for repayment by installment and after some time given your exams. If you really feel you are cheated you can approach consumer Forum. If in Bangalore contact me if need be. All the best