https://www.desidime.com/comments/permalink/10074774
unsecured? if you can be shameless, it can go as low as 10%
Loan settelment for defaulter
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Whats is best offer bank can offer for loan settelment for defaulter as from your experiance?
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https://www.desidime.com/comments/permalink/10074785
In indusind you can settle for 30% with cibil clean letter which no one provides.
https://www.desidime.com/comments/permalink/10074899
what is cibil clean letter?
View 6
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https://www.desidime.com/comments/permalink/10075035
I even read somewhere that these loans can be cleared easily by going into lok adalat.
https://www.desidime.com/comments/permalink/10075079
Woh baat kar raha hai Firestar Diamonds, Diamond R US, Kingfisher Airlines, Reliance Capital, Reliance Communications type (bank) loan aur guarantees ki
Aap baat kar rahe ho traffic ticket ki.
Aap baat kar rahe ho traffic ticket ki.
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https://www.desidime.com/comments/permalink/10075094
Credit worthiness would be ruined. Currently, you are WILLFUL DEFAULTER in your Credit report and by settlement, your Credit report will change into SETTLED.
You know very well what does this mean ! Better to pay it off in EMIs and clear the derogatory remarks from your Credit report. In this digital Era, your Credit worthiness will decide the future of your financial situations.
Just Remember one thing, Today, In emergencies, your blood relation won't help you. Bank, on the other hands, is ready 24/7 for your needs in any situation
https://www.desidime.com/comments/permalink/10075351
Depending on how many millions, billions of debt there is, many times declaring bankruptcy can lead to closure of the loan file.
Promoters of big businesses have routinely been doing it, when needed.
[Of-course if they had assets, networth.. first they shifted it to others, including shell companies or repaying the 'loans' taken from others. Where the others are related parties only (like distant associates whose connection is not easy to trace or registering she'll companies in tax havens, countries with lax laws. These companies have complicated ownership structure with myriad cross-holdings.
So one can never prove that the entity filing for bankruptcy did not actually repay loans, but shifted the funds to others.]
One we knew of a small time teal estate agent turned small time (construction) builder.. joining hands with a suspicious businessman.
They then started building small (5-6 storeyed) apartments.
I am not sure how exactly they did it. But they called it one by two.
They would sell the same property to two people.
Often one of the buyers would be a related person who took a bank loan for the property and their plan used to be to declare bankruptcy after 18 installments or at most 24-25 months.
All this while the first buyer (sometimes have not got possession in the first 11-12 months) is unaware of all the issues (second dummy buyer, builder selling the same property to more than one entity, legal case of bank).
I wonder what your motivations in asking this are.
Hope you or some entity close to you is not involved in a major default situation.
Promoters of big businesses have routinely been doing it, when needed.
[Of-course if they had assets, networth.. first they shifted it to others, including shell companies or repaying the 'loans' taken from others. Where the others are related parties only (like distant associates whose connection is not easy to trace or registering she'll companies in tax havens, countries with lax laws. These companies have complicated ownership structure with myriad cross-holdings.
So one can never prove that the entity filing for bankruptcy did not actually repay loans, but shifted the funds to others.]
One we knew of a small time teal estate agent turned small time (construction) builder.. joining hands with a suspicious businessman.
They then started building small (5-6 storeyed) apartments.
I am not sure how exactly they did it. But they called it one by two.
They would sell the same property to two people.
Often one of the buyers would be a related person who took a bank loan for the property and their plan used to be to declare bankruptcy after 18 installments or at most 24-25 months.
All this while the first buyer (sometimes have not got possession in the first 11-12 months) is unaware of all the issues (second dummy buyer, builder selling the same property to more than one entity, legal case of bank).
I wonder what your motivations in asking this are.
Hope you or some entity close to you is not involved in a major default situation.
https://www.desidime.com/comments/permalink/10076215
Guys if you settle your loan account it will be written as settle in cibil and will remain in cibil for lifetime weather you settle in lok Adalat or through bank directly. So think before settling a account
https://www.desidime.com/comments/permalink/10076278
Recovery agents will keep bombarding with calls to you for next 3 months , sms , automated calls and might even come to home from first missed payment till the settlement ..Get ready for abuse , harrasment for some time this is how it works in India
https://www.desidime.com/comments/permalink/10076647
After first missed payment when will they offer settlement ?
I missed the payment 1 day ago and getting calls . 😞😞
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https://www.desidime.com/comments/permalink/10106786
Getting daily 10-20 calls.
One women threatening that will send recovery agent to my village where I am living currently..
My village is 28 kilometres aways from district city in bihar state.
Will recovery person can come daily in villages also ?
Still not got any offer of settlement.2 EMI missed.
https://www.desidime.com/comments/permalink/10107853
Have you got any offer on loan settlement ?
https://www.desidime.com/comments/permalink/10107855
Today recovery agent called one of my relative .
Don't know how he received the number of my relative.
It's clearly violation of RBI guidelines.
What should I do next ?
https://www.desidime.com/comments/permalink/10292882
@kunal7121994 what's the progress on the case from your last update?
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Credit worthiness would be ruined. Currently, you are WILLFUL DEFAULTER in your Credit report and by settlement, your Credit report will change into SETTLED.
You know very well what does this mean ! Better to pay it off in EMIs and clear the derogatory remarks from your Credit report. In this digital Era, your Credit worthiness will decide the future of your financial situations.
Just Remember one thing, Today, In emergencies, your blood relation won't help you. Bank, on the other hands, is ready 24/7 for your needs in any situation
Bro even bank helps to rich people.
For poor they ask some witnesses and guranterr.
If you are salaried person, have decent score then they won't ask you for anything. I took the 5 Lacks pre-approved personal loan for house renovation from icici last year without any guaranter or mortage at 9% roi. EMIs automatically deducts from my salary account. Now, I get so many crazy offers like home loan, car loan and pre-approved credit card. Currently getting upgrade offer to ltf icici rubyx American express card.
I never missed the payment and credit utilization is always below the 10%. Financial literacy is something which should be taught in schools at younger age. I've seen many peoples around me who are in debt trap! Their life is completely destroyed by recovery agents.