term loan and cc limit

Querist : Anonymous (Querist) 22 May 2011 This query is : Resolved
I have taken a term loan and cc limit from bank of baroda, since 1 year i have paid regular instalments and interest now due to unforeseen circumstances iam not in a position to pay the instalment and interest this month maybe it will take me six months to get back to normal position.Now please advise me the best option left so that i can avoid my account going into N.P.A.

Thanks and regards

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Guest (Expert) 22 May 2011
FOR PAYMENT OF MONEY THERE IS NO REMEDY. IF IT BECOMES N.P.A THERE WILL BE ONE TIME SETTLEMENTS OFFERED TO SETTLE THE LOAN WITH NOMINAL INTEREST. OR PAY MINIMUM DUES TO OVER COME

Querist : Anonymous (Querist) 22 May 2011
Dear Mr.Ganeshan, yes iam willing to pay but what minimum amount I have to pay to avoid my a/c getting into N.P.A. My monthly instalment with interst is about rs.5 lac. Thank you with regards

M/s. Y-not legal services (Expert) 23 May 2011
You may consult with your banker and prays 6 moths time for it know.. They may be ready to consider your situation. Cos earlierly you were a regular payer know..

Advocate. Arunagiri (Expert) 23 May 2011
You can discuss with the bankers and reschedule the payments.

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