Took personal loan but unable to pay
Dev
(Querist) 19 July 2024
This query is : Resolved
Hi,
I have taken a Personal loan from ICICI Bank 2 years back initially I was paying the EMIs but then after few months my financial condition forced me not pay the EMIs. Last year in October I was diagnosed with Kidney damaged and Hear Condition with Hypertensive condition and I am without job.
From Last 3 months I am in touch with the bank explaining the situation also told them if you need my medical reports I can give that too. I never said that I will not pay the money back but cant do it one time. But now they are saying that I have settle the account now. The original amount was 625000/- , now I wanted to get the advice how much low can be the settlement as I have medical condition and my CIBIL score is already gone down.
T. Kalaiselvan, Advocate
(Expert) 19 July 2024
The lender will be concerned only with the loan amount repayment with interest and he may not be sympathetic towards your health issue or your inability to repay the borrowed amount for any other reason.
You can talk to the manager and get your loan either restructured or look for one time settlement.
You may not get any respite if you plan to go legally against the lender bank instead the consequences will become more intolerable.
Sudhir Kumar, Advocate
(Expert) 22 July 2024
You have to pay. They may settle for lesser amount to avoid expenses and time sent in litigation.
interest is increasing on every midnight.
P. Venu
(Expert) 22 July 2024
The query suggests no legal elements.
