Nitin (PM) 30 December 2012

Need help on personal loan issue

Hi Team,

I am facing a wierd situation now after 7 years. I did took a personal loan from IDBI Bank in 2005 and also the repayment was done by friend till 2007+ as he needed the money. However, after I shifted to different city, I missed tracking the loan details payments.

Now I was looking for home loan and came to know from CIBIL that my name is listed in their databased for one of the loan as written off. This is the same loan IDBI loan.

In order to proceed further, I reached out IDBI bank and thought of settling the loan, the IDBI team was threatening to me that I did not pay the amount and am liable to pay it. I was happy to pay the amount, and all of sudden they told me it 4lakhs due for a loan of 1 lakh.

However, I did talk them and told that I am ready to pay the same, and also if needed I can settle them. However, the team did not send me any details of the loan which they promised. This was in September 2012. After this they have never called me back.

Now they are threatening me that they are going to issue a NBW and police will be visiting my house.

Could you please help me if it is possible for the bank to take this kind of action or what should I do?

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4 Replies

sujnyanendra (Proprietor) 30 December 2012

Hi Nitin,

Dont worry. They wont take such kind of an action. Be careful and dont issue any cheque to them. Ask them to issue a statement of account of your loan account the next they approach for recovery. After receiving the statement check it thoroughly. The rate of interest and all...I guess there has to be mistake. If you find any. Contact me. If you dont find any. Contact me. I will give u free advise. For your relief visit supreme court website and download Central Bank of India vs. Ravindra & otrs case law.Contact me at sujnyap@gmail.com.

Nitin (PM) 31 December 2012

Hi Sujnyanendra,

Thank you for very much for your reply.

When the IDBI recovery officer called me up yesterday, he said that they are going to issue NBW (Non-Bailable Warrant). I have not issued an cheques to them.

As I reached out to them and till date I have not received any legal notice or initmation from the bank.

So may I approach the bank and get it sorted out.

Meghna (exec) 31 December 2012

Why don’t you try writing to them on customercare@idbi.co.in with all your details. I am sure they will get in touch with you in order to address your concern.

lindadale (laywer) 16 January 2013

This is really a wired situation for you.many people facing same problems on personal loan.I want to suggest you that you can get a help from cusmour court if you apply there.I think this is the only way for you now.