Cancel my emi
4 months ago
I applied for cancellation they replied me they won't cancel and asked for emi cancellation I don't want my refund but they forced me to continue
A.Dear Client,
An EMI against a loan is neither cancelled nor stopped until and unless the entire loan is repaid by the borrower, If you are facing hardship in paying EMI against the loan, you need to take up the matter with the concerned lender. Sometimes, Open and honest communication with the Lender works better than litigation. You may negotiate or settle your dues against loans by following the steps like lowering your interest rate, arranging for a reduced interest rate is one of the most common requests a defaulter borrower can make to the Bank, creating or restructuring a repayment plan or extending the tenure of repayment of a loan, looking for debt forgiveness. considering loan consolidation, offering a one-time settlement payment. Following these steps, you may write an application requesting for settlement of dues to the concerned Bank stating why you cannot repay your outstanding dues lying against the loans. Also, write that you want to explore alternative repayment terms. Specify the amount that you can pay, as well as what you expect from the creditor Bank in return. A good starting point for negotiation could be offering around 30% of the amount that you owe. However, if they did not pay any heed to your appeal, then you need to bring the matter to the notice of the concerned Bank and its higher authority and the regulatory authority, RBI online on its grievance redressal portal under the integrated Banking Ombudsman Scheme either online or offline. A complaint can be made at https://cms. rbi.org.in. Further, a quick counseling session with a certified credit counselor can help you to discover your options and choose the right path to resolve or settle the matter.
An EMI against a loan is neither cancelled nor stopped until and unless the entire loan is repaid by the borrower, If you are facing hardship in paying EMI against the loan, you need to take up the matter with the concerned lender. Sometimes, Open and honest communication with the Lender works better than litigation. You may negotiate or settle your dues against loans by following the steps like lowering your interest rate, arranging for a reduced interest rate is one of the most common requests a defaulter borrower can make to the Bank, creating or restructuring a repayment plan or extending the tenure of repayment of a loan, looking for debt forgiveness. considering loan consolidation, offering a one-time settlement payment. Following these steps, you may write an application requesting for settlement of dues to the concerned Bank stating why you cannot repay your outstanding dues lying against the loans. Also, write that you want to explore alternative repayment terms. Specify the amount that you can pay, as well as what you expect from the creditor Bank in return. A good starting point for negotiation could be offering around 30% of the amount that you owe. However, if they did not pay any heed to your appeal, then you need to bring the matter to the notice of the concerned Bank and its higher authority and the regulatory authority, RBI online on its grievance redressal portal under the integrated Banking Ombudsman Scheme either online or offline. A complaint can be made at https://cms. rbi.org.in. Further, a quick counseling session with a certified credit counselor can help you to discover your options and choose the right path to resolve or settle the matter.
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A.Dear Client,
If you are facing issues with a cancellation request and feel pressured to continue with the EMI, it's important to review the terms of your agreement and communicate your concerns clearly. Consider reaching out to the relevant customer support or escalate the matter to higher authorities within the organization. Additionally, if the issue persists, you may want to seek advice from consumer protection agencies or legal professionals to understand your rights and options in your specific situation.
If you are facing issues with a cancellation request and feel pressured to continue with the EMI, it's important to review the terms of your agreement and communicate your concerns clearly. Consider reaching out to the relevant customer support or escalate the matter to higher authorities within the organization. Additionally, if the issue persists, you may want to seek advice from consumer protection agencies or legal professionals to understand your rights and options in your specific situation.
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