Dear All
I would like to share my problem and seeking your kind guidance ASAP. I took education loan from PNB in 2007 less than 150000. At the tme of sanction they followed all the procedure but did not give any saction letter or any relevant documents except cheque. I utelized the money in my education. in 2010 I approached bank to start repayment and after several emails they replyed that you have to pay 37000 as DUE Interest and monthly installments of 3800. As I am residing out of station so we do communication through email as nobody picks phone in PNB in last 4 years. I strted paying 3800/monthly in 2011. in Dec 2014 I made several calls/emails to know what is the current outstanding and how much I have to pay more or is it finished. nobody replyed. In FEB 2015 I visited the branch twice to enquire the status but Manager replyed that the server is down or many lame excuses. I cam back to city where I reside and work. after Feb 2015 I stoped paying monthly installments.Last 3 days back I received a letter that '' after several letter issued. you did not reply hence considering you as adefaulter and pay 119000 next 3 days (specific date) other wise legal action will be taken'''... I never received any letter from bank earlier how they are claiming it.
-- 1. what to do the next ??
---2. According to the paper I paid 170000 so far (More than principal Amount)
--3. what will be the consequences if I am not able to pay total 119000 in just 3 days.
--4. This seems a case of totally expoitation.
I request all experts to give me an idea to move ahead. will be tankfull
ehtesham.blu@gmail.com
