NPA account information
jeet Singh
(Querist) 12 August 2015
This query is : Resolved
Hi, I took study loan of rs 364000 in 2003. Earlier I gave back installment regularly but somehow could not maitained and my account was declared NPA in nov 2014 with the loan amount remained 323000. Then I started repaying of monthly installment rs 10000 till date 12/08/2015. Now the loan amount remained is 250000. Now bank offered me One time settlement deal of payment of rs 2 lakh in 2 months with 30% now and 70% in 2 months. Frankly speaking I am fed up with all this high interest rate and now I am ready to pay. Is this deal good deal for me? I requested bank manager to decrease the amount upto rs 160000 but he is not willing to do so. What should I do now? Please advice
SAINATH DEVALLA
(Expert) 12 August 2015
The matter can be settled in the lok adalat without much difficulty if U R ready to clear the dues.
ADV-JEEVAN PATIL, MUMBAI
(Expert) 12 August 2015
The option given is not bad provided they give in writing.However, Lok Adalat is better option as suggested by Devalla.
Rajendra K Goyal
(Expert) 12 August 2015
This depends on you whether you accept the settlement proposal or not?
If the offer is in writing consider the same.
jeet Singh
(Querist) 12 August 2015
Thanks for this information. Actually I never visit court. Also I want to mention till now I payback around rs 4 lakh to bank. Still they show me 252000 of remaining loan.
