Personal loan settelment
Neeraj
(Querist) 28 January 2013
This query is : Resolved
Sir,
I had taken personal loan from ICICI bank.but after some time i lost my job n was jobless for 1 year due to medical problems.now 90k is remaining.collection manager is asking me to pay in 6 emis which comes around 15k per month which is not possible for me right nw i can only pay 5-7k per month as of my new job just joined.i have paid 5k in december n now they are asking for minimum 15k.my mother is also suffering from paralysis n she alongwith my father are in chattisgarh.collection manager is asking if i dont pay the asked amount then they will seal my parents house n i will be asked to pay around 2 lakhs else i n my parents will be in trouble.please guide me what to do as im very much depressed.
ajay sethi
(Expert) 28 January 2013
if you have taken apersonal loan ICICI bank cannot attach your parents property . personal loan is unsecured loan . tell ICICI bank collection manager that legally you cnanot attach parents property for repayment of loan of children .
Anirudh
(Expert) 28 January 2013
What was the security offered by you when getting the personal loan from the Bank?
Raj Kumar Makkad
(Expert) 28 January 2013
It shall be good to personally meet the branch manager and apprise your current situation and request them to rearrange the payment schedule.
M V Gupta
(Expert) 29 January 2013
Unless the parents' property has been given as security for the loan the bank cannot proceed against the property. But it appears the property has been given as security. This fact should be verified by the querist. At any rate it would be advisable that the querist should meet the Bank officials and apply for re scheduling of repayment of the loan by extending the period of repayment and reducing the EMIs to meet his comfort level.
ajay sethi
(Expert) 29 January 2013
querist has not bothered to reply to queries raised by experts
