LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Notice received from rarc for education loan

Good Morning ,

I borrowed the education loan 2006-2010 an amount of 143900 , Until my graduation completion i paid the the year of 2016 i received a notice from lok adalat , i appeared and asked for OTS of only my principal amount (143900) instead of 3,25000. Justice accepted and asked the bank manager, but they didn't accepted for that. Now 10.05.2023 i received a notice from RARC to pay the outstanding amount of 651300 within a week, Kindly advise me what is the next step i have to do. whether i can approach them for OTS of my Principal amount ? If i didn't reply to the notice/call whether they can file a case in court?


 1 Replies

Real Soul.... (LEGAL)     29 May 2023

Since they did not accepted the settlement in lok Adalat then you were suposed to negotaite with them for easy installments and discounts. You have slept over the matter for seven years and now they will claim interest for all of the time. Either you have to wait till they file case and you get chance to negotatite through court or just settle with them for easy installments 

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register