Personal loan settlement
chaitanya
(Querist) 03 July 2012
This query is : Resolved
Dear expert,
I have taken up a hdfc bank loan of 5,00,000 and invested this amount in a hotel business but I have been conned by the person and he went absconding taking my money.
I have sent him a notice and all the legal formalities are going on.
Because of all this I want bank to hold my interest and payments till the case is concluded or do one time settlement with me. As I have already paying everything from my pocket and is of no use to me.
I heard that we can pose a genuine reason by giving the case details and police complaint copies to the bank to pose a genuine settlement. Please suggest.
Send me your mail ID where i can contact you and seek advice.
Please help, I cannot pay much installments from my pocket as I am being conned.
ajay sethi
(Expert) 03 July 2012
if you have taken loan you are bound to reay the loan in installments . if you have advanced money to thrid party and have been conned it does not absolve you of liabilty of making payment to bank
chaitanya
(Querist) 03 July 2012
True... Fair enough.. But if I am not able to repay will bank consider the reason? I have not defaulted any of the payments.. Nor I want to... Bt now its creating a hinderance.. Is there anyway I can work out with the bank?
