NPA
NPA
I have two accounts with bank one is home loan and another is cash credit loan .Unfortunately the cc loan account renewal has got delayed and this has turned NPA. Because of this my home loan account
2 months ago
A. Dear Client,
Both cash credit accounts and home loans are considered debt and once the repayment of a loan/debt against one account stops, it typically affects the other considering the financial stress and the poor CIBIL score of the Borrower treating the secured home loan as a stressed asset/NPA. The Bank initiates a routine course of action for recovery of the loan/debt from the borrower following the provision under the SARFAESI Act and the order of the Debt Recovery Tribunal directing the ...ReadMore
credit card and personal loan default
Sir i AM Unable to payment above dues due to low salary what is the process for filing insolvency can it be filed without lawyers help
2 months ago
A. If any one of the following three requirements is met, a person who is unable to pay their debts may file an insolvency petition:
1. Debts totalling over Rs. 500
2. The person is being held in custody or placed under arrest in order to carry out a money decree.
3. In carrying out the decree, there is an active order of attachment against his or her property.
A petition for insolvency is submitted to the district court that has jurisdiction over the debtor's place of residence or place of busine ...ReadMore
Loan repayment calls from HDFC bank
I've been getting calls from HDFC bank for over 6 years asking to repay a loan I never got. I don't even have an account in HDFC bank. They ask for a Mr. Rajasekaran(My name's not Rajasekaran) who ha
2 months ago
A. Dear Client,
Consider sending a cease and desist letter to HDFC bank, clearly stating your situation and demanding an end to the calls. Keep a copy of the letter for your records. If the calls persist, you may want to file a complaint with your local consumer protection agency and consider seeking legal advice. Additionally, explore options like registering your number on a "Do Not Call" registry and utilizing call-blocking apps to minimize disruptions.
Thankyou
Loan - Iwill not be able to pay EMI
Dear sir I got into a very difficult situation. Please can somebody help. I am not from a very great financial background, I wanted to join data training for learning and job opportunities, for whi
2 months ago
A. Dear Client,
It appears from the contents of your query that you are trapped by online job scam entities who extort money from the victim by illegal means. So, in the given situation, instead of panic, face it boldly. Try to avoid or stop all sorts of communication with the concerned entity and make a complaint against the fraud company to the local police station by way of GD(General Diary) with the documents/evidence you have and take a receipt of the GD from the Police station and serve a leg ...ReadMore
High Debt
Sir, I am a government employee, but in a bad financial condition I had get loan from many credit cards , and a housing loan also. Now my salary is half of my all emi+credit card minimum dues.. I wa
3 months ago
A. Dear Client,
A borrower of a loan or defaulter of credit card dues is held liable personally for his or her debt for non-payment of the outstanding amount of the loan or credit card. Once the repayment of the loan stops or bounces for consecutive 3 installments, The Bank initiates a routine course of action for recovery of the loan from the borrower marking the loan as a bad loan/NPA. You can make a prayer to the Bank for some more time to settle the dues but cannot escape yourself from your li ...ReadMore
Filing suit in DRT
I had taken loan by mortgaging my house property due to my financial constraints I stopped paying instalments. The financer has obtained decree from DM for taking possession of my house and demanding
3 months ago
A. Dear Client,
Sub-section (3A) of Section 13 of the SARFAESI Act, introduced through a 2004 amendment, allows borrowers to present objections or representations regarding the notice issued under subsection (2). The creditor is obligated to assess such objections and, if deemed meritless, communicate the reasons for non-acceptance within fifteen days. The Delhi High Court emphasized the mandatory nature of Section 13(3A) in light of the Supreme Court's judgment in ITC Limited v. Blue Coast Hotels ...ReadMore
Guarantor for third person
Hello sir i want to ask about my father who in around 2016-17 with his free will agreed to become a guarantor for someone he knew well enough and that following person borrowed money from 6 Registere
3 months ago
A. Dear Client,
A Guarantor holds equal liability for repaying the principal borrower's debt, and if standard recovery measures against the borrower fail, the bank can initiate debt recovery from the Guarantor. In the absence of a Guarantor, their surviving legal heirs may still be held responsible for settling the debt from the inherited assets. While you can request more time for repayment, you cannot evade the liability. Legal actions, including civil suits or criminal proceedings, may be pursue ...ReadMore
Cyber complaint
My bank account was freezed by cyber cell of Gujarat ...i live in Bangalore ...n I got a acknowledge number n i spoke to victim to unfreeze my bank account ...he told I lost The amt when that is amr
3 months ago
A. Dear Client,
After reporting a fraudulent transaction to the Cyber Crime Cell, the victim's bank, under the Cyber Cell's instructions, freezes both the victim's account and the suspected accounts linked to the scam. These accounts remain inactive until the investigating agency completes its inquiry and submits the final report. The duration of the investigation varies based on the case's complexity, available resources, and the victim's cooperation. Seeking advice from a cybercrime expert or a l ...ReadMore
Procedure to stop take poession of flat from bank
In 2018 we took home loan in me & my husband name as co borrower & we paid emi till 2020 after covid business was not going well & 2 months ago husband was expired & yesterday poession notice came so
3 months ago
A. Dear Client,
Firstly, contact your bank immediately and explain the circumstances. Some banks offer insurance coverage for the outstanding loan amount in case of the borrower's demise. Additionally, inquire about any relief or restructuring programs the bank may have due to the COVID-19 situation.
Consult with a lawyer to understand your legal options and potential courses of action. Depending on the circumstances, you may explore the possibility of transferring the loan to your name solely, see ...ReadMore
Loan related
Hello.my question hai one of my frnd took emi loan in my name to treat his mother during cancer and he promised me to pay all the money but somehow he managed to pay only the lumsum amount and afterw
3 months ago
A. Dear Client,
If your friend borrowed money using your name and hasn't repaid the loan despite promises to do so, you can take several actions to recover your money. Start by documenting all the evidence you have, including call records, messages, and any written agreements or acknowledgments.
1.Communication:Send your friend a formal written communication, reminding him of the outstanding debt and requesting repayment. Clearly mention the amount owed, the terms of repayment, and a reasonable dea ...ReadMore
