Credit Card Loan
arindammitra
(Querist) 31 May 2015
This query is : Resolved
Hi All ,
Would request you advice in this matter. I had two Citi bank credit card both going on for seven to eight years I have never been a defaulter
Two years back i took a loan on my credit card where the bank gave the same to me as pre approved laon with no cheque or document taken the loan was for 4 years for 2 lac
I paid the loan for one year and told me that we have a top up offer so they gave me amother 1.3 lac and closed the last loan
Now I started paying this one and paid for six months my EMI is 8500 and my basic salary is 11400. I have some issue and my employer has stopped my salary.
I am in no way in a condition to pay this loan
Can I call the bank and ask them to do a full and final settlement or shall i tell them that i cannot pay the loan as they did not check my salary before giving me the loan.
I know its our responsibility to pay the loan but i need to get my basic needs covered first.
Regards,
Arindam
SAINATH DEVALLA
(Expert) 31 May 2015
Every question of URs has been answered by U only, then why trouble the experts.
Rajendra K Goyal
(Expert) 01 June 2015
Better arrange for the outstanding amount and do full and final settlement.
T. Kalaiselvan, Advocate
(Expert) 10 June 2015
It is better to go for OTS or full and final settlement instead of hanging around and every time facing the same problem when crisis situation prevails.
