Want to do settlement of personal loan but bank people are refusing?

Question

Hi, My son amit dhingra had taken personal loan with your bank on march 2015 he aid EMI for 7 months then his job was gone so he could not pay EMI. He has also left us now bank people come and screams at our home. We also told that we can do settlement by paying at fixed amount they are not agreeing on that

Answer 1

Dear Ravi

At the outset, let me clarify that this site is designed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

Bank loans are required to be repaid as per agreed terms.  Your son has defaulted on the same and the recovery agents must be pressurizing you for repayment, probably because you must be a co-applicant / co-obligant.  Please speak to the bank officials, explain them the reasons for default and request for deferred payment.  Hope, bank would help you on humanitarian grounds.

RAJA