Siddharthraju kannan 31 December 2015

Npa education loan

HI all..

Am new to this site, am confused with my edu loan issue and hope i will get solution here.

Am working in coimbatore and I did my both degree(UG & PG) in edu loan from Bank of baroda Tirupur.

two years back i met with an two wheeler accient and thereafter couldnt pay my dues regularly. for the past two years due to family committments I didnt paid my dues. Now the acc has become NPA and the bank officials are requesting me to pay 4,25,000 and single go. for that they are forcing me to avail a Personal loan in HDFC and am confused to do it.

I need suggestions reg it. whether shall I go for the personal loan for settling my edu loan.

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3 Replies

siddhartha sinha 31 December 2015

Depends on your financial position now. If you have the funds settle it right away. If the bank is willing to give some more time negotiate it. If you take personal loan then it is simply transferring the liability to another bank but you will get some time. You may also try for any other secured loan from bank. If you have property then you can get mortgage loan easily.