Credit card & personal loan repayment

You may approach a competent and exeprienced  lawyer and issue notice to the person who have borrowed from you.YOu need more than simple follow up.

The CC comapnies have nothing to do with your transactions with other indivisuals.You can try for OTS, payment in instalments.You should negotiate hard. You may obtain a prior confirmation preferably by letter under original seal and signture by competent employee of the comapnies or by email, stating that the settlement shall have no negative bearing on your loan taking ability in future,your name shall be called back from all credit bureaus, credit rating agnecies including but not limited to :

CIBIL – Credit Information Bureau (India) Limited (www.cibil.com)

 

·                  Experian - Experian Credit Information Company of India Private Limited (www.experian.in)

·                  Equifax - Equifax Credit Information Services Private Limited (www.equifax.com)

·                  MCNF database (Master Card Negative Feedback)

 and your status shall not be updated as written off or any other which shall affect your credit score.

Dear Sir,

      I am serving in the Indian Army and I had taken taken a personal loan of Rs 2.70 lacs from SBI from my salary accountin Jan 2012 and subsequently I have been transferred to a new place and due to some problems in the documentation my salary is not being credited to my bank from the pay disbursing office.   So I have become a defaulter and the bank authorities have issued a notice on my mail ID and to my guarontors informing me that legal action would be taken against me and also they would be publishing the matter in the local newspapers/ads.    As I have been transferred to some other place I have not been able to visit the bank personally and apprise my problems so a have sent a e-mail to the bank apprising them of my problems and asked them for some more time.   I have requested the bank authorities that I will be paying the amount due as on date and will be paying the pending EMIs regularly once my dispute with the pay disbursing office is cleared.

     I would request you to kindly advise me on this matter and also let me know what action to be taken by me at this juncture ?

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There is no need to worry, you can simply ask the bank for re scheduling of your loan citing the reason for non payment of EMI's. Moreover, bank can not publish your name in any newspaper/ads without completing the formalities of getting an ortder from the competant court of law that proves you are a defaulter. The threats being received by you must be from their collection agency, write down a complaint to the Ombudsman, RBI, of your area, giving the precise details. i.e. all the copies of the emails exchanged.Still if you face any problem, you can be in touch with me through my email id: vinoo_verma@yahoo.com for a free help.

I had a similar problem with CIBIL. I got in touch with Credit Sudhaar( www.creditsudhaar.com ) They are a crack team run by professionals from the financial services industry. Excellent responses, always available to take my queries.. These guys at Credit Sudhaar are ever reliable. you can contact them on 022-67886788