abhishek sinha 02 October 2016
Hello, Can anyone of you please help me out as i was paying the EMIs of educational loan...but due to late payment some months back...it became NPA but i still continued to pay...But now the loan account is closed n It says Recalled assets deal n amount written off....what does that mean?
Anup kumar 02 October 2016
Anup kumar 02 October 2016
arpit shukla (,) 02 October 2016
G.L.N. Prasad (Retired employee.) 03 October 2016
Written off means, Bank deciding that it is not possible to recover and amount credited from their funds, to reduce NPA and with a lost hope, that there is no scope for recovery.
Even when the account is written off, they can still claim the amount from you, as your repayments is prolonging the limitation period.
It is better to talk to the bank and pay outstanding amount at a stroke and get a no due certificate.
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