Om Singh (Employee) 26 November 2012
Hi,
I have taken a loan from HDFC bank 6 years earlier, the loan amount was 50,000/-, now the bank has come after 6 years asking me to pay somewhere around 1,41,000/-. Please suggest what should i do in this case. I tried working on a solution with them, They are saying if i settle my loan, then i will not be eligible to get loans in future.
YOur suggestions will be highly appreciated.
surjit singh (Assistant) 26 November 2012
Ask them for the detailed statement to know how it has been accumulated to Rs. 1,41,000/-
Kumar Doab (FIN) 26 November 2012
If you have availed loan you should pay.
If the payments were blocked due to some lapses/deficiencies with bank you may close everything in writing on record with whole record favoring you.
The personnel who have approached might be from a recovery agency.
The matter might have time barred.
Before you initiate any written communication or give acknowledgment of any document kindly consult your lawyer with all the documents on your record and proceed under expert advice.
Majority of the banks do not issue statement on all debit/credit entries easily and resort to letter mentioning an amount only.
Om Singh (Employee) 27 November 2012
It's not that I don't want to repay, I am just not ready to repay such a triple time amount and moreover I am surprised why they have come to me after so much time, they were aware about my address, I am just confused, I do not even have the loan documents with me right now, I mean they are lost.
surjit singh (Assistant) 27 November 2012
Consult an advocate for getting the benefit of limitation law.
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