Education loan deal with private bank
Rocky02
(Querist) 16 January 2014
This query is : Resolved
Hi Friends,
i m finished my B.tech degree in 2011 with the help of education loan in "Dhanalakshmi Bank".
i was get the loan amount 2,25,000 (from 2007-2011) and the interest percentage is 14%.
till now i was paid the 1,50,000 only interest .
My current situation not get good job and my family background also very poor.
My bankside is given so many pressure and they make call and giving torcher and black miled me file to a case in "CIBIL"
currently my total amount=3,50,000.
is any other solution to solve the bank loan problem with lower amount ? if i m go on "LOKAUTHA " its possible me resolved ah?plz Guide me friends.
Advocate. Arunagiri
(Expert) 16 January 2014
Express your inability to the bankers, request them to reduce the loan amount.
alternatively, you can request them to reschedule the loan amount.
ajay sethi
(Expert) 16 January 2014
write to bank to reduce your monthly installments as you are unable to repay loan with current income . bank will oblige as it is concerned with recovery of money
Rocky02
(Querist) 16 January 2014
Hi Arunagiri sir,
i m already told to my inability to bankers they never excused me.
strictly told me try to pay the net amount otherwise pay monthly 6800 but i m yearning 8000 room rent,food,travel how can i manage?
my eligibilty 1,50,000 to net amount to clear the loan.is it possible? if i do like these any problem came from "CIBIL".
i m coming from poor farmer background.
kindly guide me sir
Advocate. Arunagiri
(Expert) 16 January 2014
No problem will come to you from CIBIL..
The bank may initiate recovery process through court. It may take another few months.
If you receive any notice from the court, contact us. We will help you.
Rocky02
(Querist) 16 January 2014
Sure Arunagiri Sir,Here i ve one doubt if i m voluntarily go to bank and ask ll pay 1,50,000 net amount to close my loan and give the clearance certificate. they ll do favour to me or not? because they are threatening my parents and make a call monthly once.i m oly responsible to my family.give any suggestion for that resolve these problem
Rajendra K Goyal
(Expert) 16 January 2014
Totally depends upon the Bank. You may ask for one time settlement. However, after filing of the court case, Lok Adalat or court may help in arriving at some acceptable solution but it may be higher than amount offered by you at present.
Advocate. Arunagiri
(Expert) 16 January 2014
Take the help of local advocates, for negotiation with the bank.
Guest
(Expert) 16 January 2014
Lok Adalat would be the best remedy.You could convince them for rounding up the amount and plead them it would be paid in monthly installments explaining your situations.Dont carry that 1.5 to lok adalat
R.K Nanda
(Expert) 16 January 2014
nothing to add more.
V R SHROFF
(Expert) 16 January 2014
nothing to add more.
nothing to add more.
nothing to add more.
Rocky02
(Querist) 07 February 2014
Hi Sir,
I would talk with local dhanalakshmi bank Manager and explained my position also,he draft the mail to that bank head office,they told to(manager)wont negotiation the amount but they consider to schedule(2,25000+till one lakh interest with )
what can i do for next in that?
Guest
(Expert) 07 February 2014
Initially I addressed you considering your situation.For your repeated 'HI'I personally do not wish to reply further.You should understand whom you are addressing.There is a way to behave.Being a defaulter to bank you are seeking advise and remember how to address.First place the qurey with the help of some one who knows English.
Devajyoti Barman
(Expert) 07 February 2014
The author seems to be too young to know the etiquette.
Learn fast such courtesy.
Negotation with bank is the only option left. If bank refuses to balk down, be prepared to make full payment.
