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ria#123   15 October 2015

Personal lone defaulter

hi i have taken a lone of 3 lacks from hdfc bank in 2012..

i have paid for the first year .. and  i got married , quit from job...

i took the lone in delhi , with delhi adress ..
im from nagaland may pan no is registered on my home address nagaland..
im liveing in Usa now.. i have not paid since the last two years..
My phone numbers are changed .. so nothing from the bank till now..
i have not deposited any cheque, it was a pre approved lone
what are the possible  consequences  in this case


 6 Replies


So U want to investigate an escape route from the forum for the irregularity commited by U .

G.L.N. Prasad (Retired employee.)     16 October 2015

You are aware that you are a wilful defaulter, and having the capacity to repay a loan and not repaying the amount in time may not be a crime on record, but certainly your actions and intentions are not fair.

Your name might have figured in CIBIL already, branding you as a defaulter, and it is not possible for you to reestablish good rating.  Bank's may delay the recovery process, but now, they have enough resources to trap any wilful defaulter and some banks engage detectives for the purpose, and they might have already filed a court against you.  Borrowing from the bank, defaulting it, and not informing present address, going away from the country are serious matters, and the court can even impound your passport.

As a patriot, negotiate with the Banker, strike out for a reasonable rate of interest, make lumpsum payment, and help the Banks, which are already in troubles and criticised for actions of irresponsible and wilful borrowers.  Atleast repay the debt you to owe to the country.

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     16 October 2015

Please do not post this kind of queries, wasting the time of the members. This forum is not meant for giving you the ways and means to evade paying a loan given by a bank. Please be a good law abiding citizen and clear the loan with applicable interest to the bank which has helped you by giving the loan when you needed.


Rightly concluded by the above members.

T. Kalaiselvan, Advocate (Advocate)     21 October 2015

It becomes your duty to repay the loan availed by you.  You might have migrated to a foreign country but that doesn't means that you can evade the repayment of loan or shed away your liability/responsibility.  You cannot approach this forum seeking legal advises for illegal things, that is wrong..  Better proceed as advised by experts and repay the loan at the earliest. 


Hope the querist has received enough input and excellent conclusion by Adv Kalaiselvan

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