A.Loan status written off states that No money can be recovered from such a person & No further loan will be given to him/her as name is in Negative CIBIL
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A.Dear Sir,
As per the rules of RBI several personal loans are to be written off. If such status is appearing no recovery agent can claim amount from the borrower.
I could have explained more if background is known to me.
Please give me FIVE STAR if satisfied by my answers.
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Advocate Sinjari Bandyopadhyaya
Responded 2 years ago
A.What is the fact of your case? Until and unless the terms and conditions of the concerned loan agreement be scrutinized, legal opinion cannot be given. It is also necessary to know about the collateral security associated with it and the default period.
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