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sivaperumal   20 May 2016

Education loan

Hi, i need some information on a npa account.I have taken a educaional loan in 2008 for my engineering. The loan amount comes to 3.28 lacs rupees in principal at the completion of my enginnering, As i belongs to a poor family background and not having the job for a longer period of time, i was unable to pay it.

Recently i got received one letter from State Bank of India in 1st of April 2016 about my present outstanding is Rs.547939. yesterday i got received message from Reliance ARC like SBI has assigned my education loan account to Reliance ARC for Recovery. Till i'm searching suitable job for my profile and also preparing for bank examination. as on 19-05-2016, my outstanding amount is Rs.563529.

So wat  measures can be taken to do settlement of it. My relation is willing to do the settlement but they can pay maximum of 3-3.5 lacs. can i do this as one time settlement and close my education loan? please help me out of this.

 

 

 



Learning

 4 Replies

H.JanakiManohar Rao (lawyer)     20 May 2016

If banks accept one time settlement it is well and good.Otherwise pay amount whatever u have and somemore time to clear off the loan.

Sudhir Kumar, Advocate (Advocate)     21 May 2016

Not a legal query

Sudhir Kumar, Advocate (Advocate)     21 May 2016

Not a legal query

Sudhir Kumar, Advocate (Advocate)     21 May 2016

Not a legal query

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