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Md kalim sheikh (Other)     02 November 2020

What will happen if credit card is settled and no noc was gi

Dear respected sir,

Kindly enlightenment me,

Am fighting my financial problem and loan burden since more then 13 years, 

Now i feel like nothing left in life but still want to fight hoping there will be all ok for me someday.

I took credit card paid them and they took so much which is huge and after that they stopped taking from me knowing i cant pay any more,

For many year there was no harassment and no bank request to pay credit card bill , later on that credit card interest goes to many lakhs in 8 years , and in between i starter securing money for settlement and approached the bank for settlement and they agreed on certain amount and i paid but only settlement letter was given No NOC,

My same property loan with that  same bank and all instalment cleared but few late few late fees left and not yet able to pay, My fear is if I clear the late fee will that bank will refuse to give my property paper because i have settled credit card deus  .

Does bank have right to block my release of property paper because credit card bill paid by settlement and No NOC was given Only settlement letter.

 

Kindly help me, guide me 

No more can sustained this headache .



Learning

 3 Replies

Pradipta Nath (Advocate)     02 November 2020

In case the bank settled all their claim with you and acknowledged it through a letter, then NOC is required by the Banks if you take again any loan from them. So basically this part depends upon your intention and policy of the Bank!

Aside Bank can block release of your property paper if their loan amount  or any due is not paid in full.

Md kalim sheikh (Other)     21 November 2020

Sir i will pay all dues of Lap Account, but can credit card settlement will play major role  to decide by bank not to release property paper.

Is settlement is will not create any trouble in getting property paper.

 

Kindly reply sir.

 

Thank you sir for your valuable feedback.

May God give you good health and wealth.

Pradipta Nath (Advocate)     21 November 2020

Clear your late fees. Get it acknowledge as well that there is no due. Release your property papers from them. The bank can't hold your property papers. If despite the bank decline to release your property papers, you can have the judiciary intervention. 

And sukriya for praying for me. May Allah SWT solve your all problems soon. Ameen.


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