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Ramesh (Non)     17 May 2014

Credit card and personal default due to relocation

Dear Sir/Madam,

I am Ramesh form Nepal. I am Nepalese Citizen. I worked in Delhi India for 4 years. During my job in India, I took Credit Card and Personal Loan from Indian Bank. I paid EMI regularly for 2 years. After that due some abnormal family consequences I had to left the job and come back to Nepal. Till then I am here only. Now my situation does allow me to go back to India for Job. Even I do not have enough money to pay back the remaining dues of the bank.

 

Sometimes I get message from Agent regarding the payment. I is there any possibilities that the bank can any legal action again me? If yes then what types of action? Kindly suggest what should I do now?



Learning

 2 Replies

Sankaranarayanan (Advocate)     17 May 2014

The repayment of loan is your legitimate duty. You avail the loan and enjoyed it. If any defaulter then the banker have full legal right to take legal action. So your write a letter to the banker with your situation and pay the loan amount and request the waiver of interest. Sure the banker consider your matter

Kumar Doab (FIN)     17 May 2014

Settlement is an adverse entry in credit history maintained with credit bureau's like CIBIL..................

By now deliquency would have been recorded in credit history maintained with credit bureau's like CIBIL.

While you negotiate demand in writing that bank should 'Waive off' and not 'Write off' and the settlement shall not have any adverse bearing on your credit history, credit worthiness, and loan taking ability in future.

Better take the help of lawyer handling banking, consumer matters.


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