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Thread: what is personal loan settlement and role of CIBIL

  1. #1
    hkreddy is offline Junior Member
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    Default what is personal loan settlement and role of CIBIL

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ID:	5831I have a personal loan from ICICI bank the loan amount is 438500/- it was to be paid back in 24 equated monthly installments with interest and principal components. This loan was insured for health,death and loss of job with ICICI Lombard. I lost my job in december 2008 but was able to pay till feb 2009 later i could not pay for 3 months and paid in 4th month installment.ICICI LOMBARD INSURENCE COMPANY did not come to my help in difficult times AND MY CLAIM WAS REJECTED STATING IT IS AN INTENTIONAL RESIGNATION THOUGH I WAS FORCED TO RESIGN.I REQUESTED WITH ICICI BANK AND INSURANCE COMPANY WITH SEVERAL EMAILS BUT STILL THEY ARE NOT RESPONDING BUT PROMPTLY ADDING INTEREST,LATE PAYMENT FEE ETC. At one instant an executive who visited my home had reffered about mutual settlement which i did not understand and requested written letter before giving a cheque but the person never turned up. then i requested settlement of loan on line by email to customer care at senior management they offered rs 50,000 as single payment for final settlement amount against balance 8 installments and 3 defaulted installments total approx 220000/- i was shocked but accepted the offer. But when i requested the letter for it and legal conditions of settlement icici bank refused to issue letter. Can a bank go back on it's own email message I also have letter from the bank that my default are reported to cibil what is that. shall i pay 50000/- to bank and consider my loan is settled? Is SIBIL Give details of Fd i have for my future life in the event of prolonged un employment and default.

  2. #2
    akshaysinha24 is offline Junior Member
    Join Date
    Aug 2009
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    15

    Default

    Hi ,

    You should know your right
    and also call the lawyer incase if needed they just cannot harras you as per RBI guidlines

    .I am giving you this sugestion because i have also been to this situation .Also please

    contact Mr ChandraMouli at 09444484192.

    Rgds
    Akshay

  3. #3
    Unregistered Guest

    Default do not pay a single rupee until u get the settlement letter hard copy from bank

    pay the amount towards ur loan account number in the bank and take the reciept.

    do not hand over the cash to the xecutive or the bank person in hand as they will issue afake settlement letter and later say that u did not pay any amount.
    be carefull.

  4. #4
    Unregistered Guest

    Default Personal Loan Issues

    Dear Sir,

    Pls. clarify Some one

    I m a customer of ICICI Bank,
    I have Personal Loan in ICICI Bank . I have Paid EMI upto Feb 2009 ,
    9 months due from my side, So i want to do the settlement,Few days back i got a call from settlement department,

    Pls. Clarifications for following querries :-

    How i should do the settlement ??

    When I will Pay the Amount ?? After Got Settlement Letter ??

    Where i should pay ??


    What should i Pay Whether Cash Or Cheque??

    If Cash , To Whom should I handover the money ?? , Whether Settlement Executives or Any ICICI Branch

    If cheque, What name should i mentioned in Chque ?? Bank or Settlmenent Department


    How should i identify the settlement documents whether Original or Fake Documents

    Because bank was not intract with me..Settlement Department Executives only Co-ordinating for Settilement.
    How should i identify whether thease executives are coming from bank for settilement

    Intially i have given 10 cheques to ICICI Bank for Security Purpose, When the cheque will be return back to me. After Got a Settlement Letter


    Pls. clarify Some one

  5. #5
    ICICI Bank Care is offline Senior Member
    Join Date
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    1,847

    Default

    Quote Originally Posted by Unregistered View Post
    Dear Sir,

    Pls. clarify Some one

    I m a customer of ICICI Bank,
    I have Personal Loan in ICICI Bank . I have Paid EMI upto Feb 2009 ,
    9 months due from my side, So i want to do the settlement,Few days back i got a call from settlement department,

    Pls. Clarifications for following querries :-

    How i should do the settlement ??

    When I will Pay the Amount ?? After Got Settlement Letter ??

    Where i should pay ??


    What should i Pay Whether Cash Or Cheque??

    If Cash , To Whom should I handover the money ?? , Whether Settlement Executives or Any ICICI Branch

    If cheque, What name should i mentioned in Chque ?? Bank or Settlmenent Department


    How should i identify the settlement documents whether Original or Fake Documents

    Because bank was not intract with me..Settlement Department Executives only Co-ordinating for Settilement.
    How should i identify whether thease executives are coming from bank for settilement

    Intially i have given 10 cheques to ICICI Bank for Security Purpose, When the cheque will be return back to me. After Got a Settlement Letter


    Pls. clarify Some one
    Hi,

    We're sorry about the trouble. Please write to us with your contact details and loan account number at care@icicibank.com. We'll contact you and work to address your issue.

    Regards,
    ICICI Customer Service Team.

  6. #6
    vin
    vin is offline Junior Member
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    Jan 2010
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    2

    Default Unable to pay next 5 installments

    Dear Members

    I ahd taken a personal loan from HSBC in Feb 2008 ( I was an HSBC employee then). There were two personal loans of INR 1,80,000 all together.
    I have been paying the monthly installments regularly without fail.
    In July 2008 I quit my job and came to Europe for higher studies. I specialised in Market Finance and given the economic crisis in Europe over last year and a half I havent been able to find a job yet, after completing my studies.
    I had sent a mail to the the Nodal Officer of HSBC requesting if it is possible to defer my loan payments for next 5-6 months i.e. Jan 2010 to June 2010.
    My request was declined by the nodal officer.
    I have every intention to repay the loan but given my current financial situation I am no in a position to pay any installments for next 5-6 months.

    Can anyone please suggest me a way out of this?
    I would also like to know the worst case scenario if I am unable to pay the monthly installments over next few months as I am worried about the fact that since I am not in India anymore the bank would harass my old parents back in India.

    Many Thanks

    vin

  7. #7
    admin is offline Administrator
    Join Date
    Sep 2008
    Posts
    3,015

    Default

    Quote Originally Posted by vin View Post
    Dear Members

    I ahd taken a personal loan from HSBC in Feb 2008 ( I was an HSBC employee then). There were two personal loans of INR 1,80,000 all together.
    I have been paying the monthly installments regularly without fail.
    In July 2008 I quit my job and came to Europe for higher studies. I specialised in Market Finance and given the economic crisis in Europe over last year and a half I havent been able to find a job yet, after completing my studies.
    I had sent a mail to the the Nodal Officer of HSBC requesting if it is possible to defer my loan payments for next 5-6 months i.e. Jan 2010 to June 2010.
    My request was declined by the nodal officer.
    I have every intention to repay the loan but given my current financial situation I am no in a position to pay any installments for next 5-6 months.

    Can anyone please suggest me a way out of this?
    I would also like to know the worst case scenario if I am unable to pay the monthly installments over next few months as I am worried about the fact that since I am not in India anymore the bank would harass my old parents back in India.

    Many Thanks

    vin

    Hello,

    As per rule bank can file a legal case against you.

  8. #8
    Unregistered Guest

    Post Warrant issued to me for personal loan

    i have a personal loan with Icici Bank and i recieved call from delhi high court that on my arrest warrant is been declared because of check bounces.

    i have tried to settle the account with hyderabd local legal team but they are asking make full amount. I cannot pay the full amount but lesser amount with three installements is OK with me but i dont know how to convince these legal team in Hyd.

    Can i any one suggest me on this


    Raghu

  9. #9
    admin is offline Administrator
    Join Date
    Sep 2008
    Posts
    3,015

    Default

    Quote Originally Posted by Unregistered View Post
    i have a personal loan with Icici Bank and i recieved call from delhi high court that on my arrest warrant is been declared because of check bounces.

    i have tried to settle the account with hyderabd local legal team but they are asking make full amount. I cannot pay the full amount but lesser amount with three installements is OK with me but i dont know how to convince these legal team in Hyd.

    Can i any one suggest me on this


    Raghu
    We suggest you to contact to any good lawyer.

  10. #10
    Unregistered Guest

    Default what is the legal procedure for settlement of personal loan

    Dear Sir,
    i am a businessman and also a senior citizen. oflate i have lost all my business deal . i have 2 personal loan which i was regularly paying since last 3 - 4 yrs without any default of a single day . now i am not in position to pay a single emi .
    at this age i do not have the strength to altercate with bank personnel or run behind different branches.
    how can proceed legally so that both of us amicably solve the matter without any harrasement.

    need ur help and support


    thanks & Regards
    utpal

  11. #11
    akg2010kcd Guest

    Default settlement for personal loan

    Personal Loan Issues

    Dear Sir,

    Pls. clarify Some one

    I m a customer of ICICI Bank,
    I have Personal Loan in ICICI Bank . I have Paid EMI upto Feb 2009 ,
    9 months due from my side, So i want to do the settlement,Few days back i want settlement ,

    Pls. Clarifications for following querries :-

    How i should do the settlement ??

    When I will Pay the Amount ?? After Got Settlement Letter ??

    Where i should pay ??


    What should i Pay Whether Cash Or Cheque??

    If Cash , To Whom should I handover the money ?? , Whether Settlement Executives or Any ICICI Branch

    If cheque, What name should i mentioned in Chque ?? Bank or Settlmenent Department


    How should i identify the settlement documents whether Original or Fake Documents

    Because bank was not intract with me..Settlement Department Executives only Co-ordinating for Settilement.
    How should i identify whether thease executives are coming from bank for settilement

    Intially i have given 10 cheques to ICICI Bank for Security Purpose, When the cheque will be return back to me. After Got a Settlement Letter


    Pls. clarify Some one

  12. #12
    Unregistered Guest

    Default settlement for personal loan

    Personal loan settlement
    I have Personal Loan in CITI Bank . I have Paid 14 EMI out 48 EMI, i have lost my job in sep. 2008, so i can not give the full EMI Amount, i have called citi bank customer care, i told, plz. reduces my emi amount, but they not agree in this matter, so i am not giving emi amount from sep. 2009. and i want settlement .

    plz. help me

    thanks

  13. #13
    advocate's Avatar
    advocate is offline Moderator
    Join Date
    Jul 2009
    Posts
    1,572

    Default

    Hello,

    Sorry to say but yet we are not providing any help with settlement.

  14. #14
    Unregistered Guest

    Default About settlement procedure

    I have taken a loan of 200000 in january-2008 due to financial crash from ICICI bank.
    This loan helped me (thanks to ICICI bank)
    After taking this I was more suffered from my business presently I paying emi regularly but after 2-3 months I will not be able to pay this emi because I have a little child & after 2-3 months he will going to school and officially it`s expense will not a little amount like it.
    so I thought that I have one Way to reduce this tension through close this account , I went to the bank & asked for "FC" they said an amount but it was little more than my all deposites.
    Could the bank offer me to give me a waiver like 5 to 7 percent.
    or give me much time to arrange it because of my child`s educational term to be started and huge work is pending so please say me what`s the right way Do "FC" or settle this case?
    thanking you.

  15. #15
    sandesh kumar Guest

    Default Harrsement by home loan settelment department karnal

    DEAR SIR,


    REMINDER TWO FOR REQUIRED ACTION AND POSITIVE RESPONSE.


    REGARDS
    SANDESH KUMAR

    9326382376










    Note: Forwarded message attached

    -- Original Message --

    From: "sandesh varma"sandesh_kumar@rediffmail.com
    To: customer.care@icicibank.com
    Cc: tanyav@rediffmail.com
    Subject: Re: RE:'ICICICARE=037-430-117' Fw: Fw: FOR REPAYMENT HOME LOAN

    liby@mum.cavinkare.com
    hemant_chauhan@rediffmail.com,kapil_...rediffmail.com

    DEAR SIR/MADAM,

    SUB:THIS IS REGARDING SETTLEMENT OF HOME LOAN A/C NO.LBKNL00001465889

    AS PER YOUR INSTRUCTION I VISITED YOUR KARNAL BRANCH ON 23/03/10 AND ONE
    MR.JITENDRA SHUKLA AT YOUR KARNAL BRANCH GAVE ME PHONE NO. OF MR.MANDEEP
    WHO IS SUPPOSED TO LOOK AFTER SETTLEMENT CASES AND IS
    THE BRANCH HEAD(PANIPAT) AND SURROUNDING AREA. MR JITENDRA TOLD ME THAT
    MR.MANDEEP IS HANDLING MY CASE SO I SHOULD CONTACT HIM AND WHEN I CONTACTED
    HIM ON PHONE HE STARTED ABUSING ME IN A VERY FILTHY LANGUAGE.I AM VERY
    SURPRISED AS HE DID NOT GAVE ME EVEN CHANCE TO EXPLAIN ANYTHING.HE ASKED
    ME TO COME AT A CYCLE SHOP AT KARNAL INSTEAD OF BRANCH OFFICE FOR SETTLEMENT.
    IS THIS IS THE WAY TO TALK TO YOUR CUSTOMER WHO HAS COME FOR FINAL SETTLEMENT?
    I CAME TO KARNAL AS PER YOUR INSTRUCTIONS. I SPENT A CONSIDERABLE AMOUNT OF
    MONEY AND TIME TO REACH KARNAL.MY TIME IS ALSO VERY IMPORTANT AND I AM IN REGULAR
    CONTACT WITH YOU VIA E-MAIL.I INTEND 100% TO SORT OUT MY LOAN BUT HOW CAN YOUR
    EMPLOYEE AT SUCH A SENIOR POST(BRANCH MANAGER PANIPAT) CAN BEHAVE LIKE A THIS?
    HE BEHAVED LIKE A GUNDA AND USED A VERY FILTHY AND VULGAR LANGUAGE TO THREATEN
    ME.AS YOUR VALUED CUSTOMER I DEMAND A REASONABLE DISCIPLINARY ACTION BEFORE MY
    SETTLEMENT OF ACCOUNT.KINDLY LOOK INTO THE MATTER BEFORE YOUR BANK'S 31ST MARCH
    CLOSING.AFTER THIS TREATMENT IAM NOT ABLE TO VISIT YOUR KARNAL BRANCH AT ALL.
    KINDLY SUGGEST ME ANOTHER OPTION.


    REGARDS

    SANDESH KUMAR

    9326382376

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