Loan recall notice
chirag patel
(Querist) 19 March 2012
This query is : Resolved
i had taken a home loan from icici bank in the year 2002...i am regular in paying emis.....since last two months feb and march i had not paid my emi due to some personal financial reasons.........today on 19.3.2012 i had received a loan recall letter from icici bank...........can a bank issues such a letter..........in that letter it is written that i had to clear entire o/s with late charges in one go...........
for me it is not possible...........to arrange such a huge money in 15 days.....what can i do to overcome this situation....
pl. help me ......
Raj Kumar Makkad
(Expert) 19 March 2012
You should personally go to bank and shoul submit its written reply as well should talk with the officials of the bank and should convey to them your personal problem which led delay in the payment of 2 installment and you should deposit those 2 installment on that day and should undertake to pay rest of the installments in time.
Get your account regular to avoid any future complications.
V R SHROFF
(Expert) 20 March 2012
GO TO BANK PERSONALLY, WITH WRITTEN EXPLANATION, AND REGULARIZE THE ACCOUNT, OR FACE THEIR MUSIC TO dance at their tune. AUCTION:: .
SAINATH DEVALLA
(Expert) 20 March 2012
Dear Mr.Ramesh,
For a mere two months default bank will not send loan recall notice.If you are a defaulter of 6 emi's,then they will ask for the recall of the loan given through a legal notice.Hence if you owe only 2 emi's immediately rush to othe bank.pay the due instalments and regularise your loan.They will not be harsh to you,don't entertain the recovery agents,they will create hell to you.
Guest
(Expert) 20 March 2012
Contact the bank authorities and request them to allow you time to deposit the EMIs with some addition EMIs.
ESTHERPRIYA
(Expert) 21 March 2012
Try to negotiate and settle the amount with bank authorities.
malipeddi jaggarao
(Expert) 26 March 2012
If the default is 90 days bank will treat your account as NPA and start recovery proceedings starting with recall notice. As advised by the experts, please go the bank and meet the Branch Manager, explain him why you could not pay the instalment, make arrangements to pay them now and avoid unpleasant situations. They will allow you continue your EMI instead asking to pay back the entire amount in lumpsum.
