housing loan closure query
bharat
(Querist) 10 March 2011
This query is : Resolved
I was availed home loan of Rs.20,00,000.00 from citi bank NA. and i was availed a credit card and personel loan is well from citi bank NA. unfortunately i suffered a huge loss in my business from which i have not recovered till date. now I wanted to close this loan but the bank is saying that as u r defoulter in PL & Credit card u hav to pay all the dues including PL & Credit card dues. I wanted to know tht can bank attach PL & Credit card dues with housing loan.
Guest
(Expert) 10 March 2011
Pending repayment of home loan for the time being, will it no be better to repay the dues of PL and credit card first and after your PL & credit card dues are cleared then make part payment of the home loan to avoid unnecessary heavy burden of interest on all types of the Citi Bank debts till the dispute remains unsettled? I am sure the interest charges/penalties on the PL and Credit Card can be quite heavy.
In order to avoid attachment of property, after repayment of the PL & credit card dues, you may apply to the bank with the request for re-fixation of the installments of the home loan.
However, if you like to share the complete information with me for any viable solution to all other related problems also in combination, you may send details to me through email, as I understand that you may be facing some other debt related problems also, about which I have also suggested you earlier that solutions on unclear problems in isolated manner may not help you much. Possibly, I may be of much help to you in providing better and reliable solutions. Involvement in litigation always prove to be much more expensive and beyond control, if started.
PS Dhingra
Chief Executive Officer
Dhingra Group of Management & Vigilance Consultants
New Delhi-110089
Mobile: 09968076381
[dcgroup1962@gmail.com]
