Question

Personal Loan Settlement Bank manager/Loan Officer/Sr. Executive manager This is Suleman Shaikh holding Loan Account  now these days I am getting calls from collection agency once visited met place when I was not at home and spoke to my wife very rudely. He also spoke to me over the phone very rudely and threatened me that if I don’t pay the loan will repossess my property and auction it. Fortunately I have recorded his calls and I can sent it to you. Currently I am in deep depression and the only option left for me is to commit suicide if this is not resolved.Type of Loan (e.g. Personal/Express Loan Plus/Auto): Personal Loan. - Amount of Loan: 450000 Current Outstanding-313160.85 Proposed short settlement amount-120000 So Dear Bank, I am approving the above details myself as I am the victim of taking personal loan and not paying the further installments after 23 months of my loan disbursement. Summary: As I already stated that I only paid the 23 installments out of 60 installments to Bank and still there is 37 installments is left for paying out to Bank. So I noticed from past few months that the Bank collection agents started harassing me...That is very natural I do not have any complaints regarding this from bank. Reason for not paying out my installments: Dear  Bank I got heavy loss in my business in the year of 2015. I tried my best to clear all the outstanding amounts but now I don’t have capacity to pay due amounts. & now I am completely depended on my relatives and my credibility is also zero in other banks due to name in CIBIL. So now I want to settle my personal loan with the help of my relatives. I have met Mr. Shakir Rakhangi from Kanjurmarg Branch and offered him the settlement amount of 100000 but he asked me to pay 210000.I do not have the capacity to pay 210000 due to my financial condition therefore I am agreeing to pay 120000. Now it’s my polite request with bank to settle my personal loan with this small value with considering my position. This is enough and I just want to say that I have closed my business completely and I am still is Jobless and as the Bank harassing me day by day now a days so I have decide to settle the whole amount at one time with the help of my Relatives/ friends and Parents... So I requested to you Dear Bank Please show your mercy on me and please call me and please settle my loan account as soon as possible as one time settlement. I will be very grateful to you... I will be very oblige if you can decide a medium settlement amount for my personal loan... Thank You Bank...

 

Answer 1

Dear Suleman

Looking to your problems raise it can be seen that you are interested to close the loan but with lesser amount. Secondly you are settling the same from the help of your relatives as you have incurred financial loss and do not have means to repay.

What I would like to suggest is that you will have to meet personally the Nodal office or the Senior functionary in the Bank and explain your constraints and also the threats you have been given so far.

The Bank has policy to and discretion to allow for settlement with lower amount looking to your track record and may help you. You will have to personally impress upon for the settlement for the lower amount.

Kindly handle the issue more patiently and try convince the management who may be able to help you.

Uday