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Credit Cards / Loan Products in India => India Credit Cards / Personal & Business Loans => Topic started by: neha on May 02, 2010, 09:02:53 PM
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Hi,
I had taken a loan from Centurion Bank in April 2007 for 1 lac. after that unfortunately due to my health concerns I was not working and defaulted on EMI's, then in December I got call from collection agency and we agreed for settlement of 75000, after that I didn't get any calls from them. Then the news came that Centurion is taken over by HDFC Bank. I tried to contact them for settlement but was not able to get thru anyone. In Sept 2008 I got a call again for the default loan and since then I am regularly paying the EMI's thru cash. Now they have offered me a settlement of 25k to 30k, how should I go about it? I want to buy a house, when do you think I should apply for home loan in case I settle my loan? Please help me as I am planning to get married by Dec 2010 and want to clear this dues before that?
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1. Get Full and Final Settlement Letter from HDFC Bank with your Loan Number on the Letter.
2. Why are you paying the EMIs by cash ? Preserve all the Counterfoils of the Challan proving your cash payment.
3. Make the Full and Final Settlement Payment by means of a Crossed Cheque
4. 30 days after the Final Payment, get your CIBIL Credit Report (http://credit.cardbhai.com/2009/08/cibil-credit-report-on-demand-available.html) and see how it looks like.
5. Since Credit Report is Confidential to be uploaded here, you can e-mail the same to feedback AT cardbhai Dot Com, only then I can tell you about chances for your Home Loan.
Best.