Legal Question in Credit and Debt Law in India

DEAR SIR,

I AM RECEIVING CALLS FROM STANDARD CHARTED BANK THAT I HAVE TO PAY SOME BALANCE AMOUNT OF MY LOAN WHICH I HAD TAKEN IN THE YEAR 2000.NOW IT IS 2016 AND NOW THEY ARE CALLING ME AND HARASSING ME TO PAY THE BALANCE Rs.20000/-(TWENTY THOUSAND ONLY). I ASKEDK THEM WHY DID THEY NOT CALLED ME ALL THESE YEARS FOR THAT THEY ARE SAYING ITS UP TO THEM WHEN TO CALL OR NOT AND HARASSING ME TO PAY THE BAL AMOUNT.

SO PLEASE HELP ME AND SUGGEST WHAT SHOULD I DO NOW.


Asked on 4/05/16, 12:13 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

05.04.2016

Dear Sir / Madam,

The Bank may be right in their way. You may request them in writing to provide you with a latest Loan Statement, and if due and pending settlement, I strongly advice and recommend that you negotiate a settlement and pay off and close the loan A/c all in writing for your record.

Regards,

Read more
Answered on 4/05/16, 7:56 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in India