Late payment charges due in Personal Loan from 6 yrs !

POSTED BY rameshdilro ON September 18, 2013 3:06 pm ONE COMMENT

Hi Ashal,

I have taken 50k personal loan from the bank in Sep 2007, I didn’t repay the money as I lost the job then. Now they have send mail a total of 117175.00…, which includes late payment charges are 61337.00, stating that my case is forwarded to their  authorized collection agency.I’m not in the situation to repay the money now, which is double of principal.

After seven years , Will my data cleared in CIBIL? What is the best solution can you give me now.

Plz help me.

One reply on this article “Late payment charges due in Personal Loan from 6 yrs !”

  1. ashalanshu says:

    Dear Ramesh, you mean to say still you are not in position to clear the loan amount along with the interest cost or do you not have any intention to pay at all?

    The data ‘ll remain with CIBIL and ‘ll haunt you even here after. 7Y time frame is the minimum time and CIBIL does not say when it ‘ll remove the past data.

    Thanks

    Ashal

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