Kindly need sugesstion : reg persoanl loan
Prasad
(Querist) 15 July 2012
This query is : Resolved
Hello
I had taken personal loan from Barclay Finance 3years before and is remaining for 1year.
In beginning due to some technical reason my EMI was not getting cleared from my account, so was paying by cash to collection agencies and habit continued as I was not able to maintain cash each time.
Meantime I had good relation with collection agent, sometimes they would take money from me AND USE IT FOR PERSONAL use and adjust money next month and some times I was not able to pay.
This has led me short of 6 emi.
But I am paying EMI without fail,
MY PROBLEM:
Now bank is forcing me to closed the loan either taking settlement or paying full amount.
settlement amount will be 1Lakhs with 2-3emi.
The person calling me is saying if I dont settle my account, he is threatening for legal action and also said other department would start calling my parents and wife (I don't know hw they got contacts) and harass them.
I can pay EMI amount(which is around 10k) but cant afford to closed Loan amount, my condition is v bad now coz i have recently closed my business due to loss and searching for job. due to this pressure I am not able to concentrate on my interviews pls help.
prabhakar singh
(Expert) 16 July 2012
Negotiation is the only way.When they are agreeing for 3 emi(s)on persuasion may agree
for five also.
They do not have any right to make calls to your wife or parents.That would be crime re-portable to police by FIR for action.
However all private lenders are found indulged as they think it tp be good pressure tactics.
