Unable to pay emi due to financial fraud with me
2 months ago
A crypto financial fraud happed with me. I had just taken personal loan from sbi of 2lakh. I havent paid a 1st emi yet. I Dont know how to pay the emi now..i had left job before 6..7 months due because mother is not well.what to do in this situation?
A.Dear Client,
Here are some steps you can consider taking:
1. Contact your bank (SBI): Reach out to your bank as soon as possible and explain the situation. Inform them about the financial fraud you've experienced and the challenges you're currently facing due to your mother's health and unemployment. They may be able to provide guidance or temporary solutions.
2. File a police report: If you haven't already, file a police report regarding the crypto financial fraud. This documentation may be useful when dealing with the bank and any potential legal proceedings.
3. Explain your situation to the bank: Clearly communicate your financial hardship, unemployment, and your mother's health issues to the bank. Some banks may offer temporary relief or restructuring options for loans in such cases.
4. Seek legal advice: Consult with a legal professional to understand your rights and options. They can provide guidance on how to navigate the situation and may be able to help you explore legal avenues to address the fraud or negotiate with the bank.
5. Look for alternative sources of income: While caring for your mother, explore opportunities for remote work or part-time employment to generate some income. This could help ease the financial strain.
Here are some steps you can consider taking:
1. Contact your bank (SBI): Reach out to your bank as soon as possible and explain the situation. Inform them about the financial fraud you've experienced and the challenges you're currently facing due to your mother's health and unemployment. They may be able to provide guidance or temporary solutions.
2. File a police report: If you haven't already, file a police report regarding the crypto financial fraud. This documentation may be useful when dealing with the bank and any potential legal proceedings.
3. Explain your situation to the bank: Clearly communicate your financial hardship, unemployment, and your mother's health issues to the bank. Some banks may offer temporary relief or restructuring options for loans in such cases.
4. Seek legal advice: Consult with a legal professional to understand your rights and options. They can provide guidance on how to navigate the situation and may be able to help you explore legal avenues to address the fraud or negotiate with the bank.
5. Look for alternative sources of income: While caring for your mother, explore opportunities for remote work or part-time employment to generate some income. This could help ease the financial strain.
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A.Dear Client,
Here are some steps you can consider taking:
1. Contact your bank (SBI): Reach out to your bank as soon as possible and explain the situation. Inform them about the financial fraud you've experienced and the challenges you're currently facing due to your mother's health and unemployment. They may be able to provide guidance or temporary solutions.
2. File a police report: If you haven't already, file a police report regarding the crypto financial fraud. This documentation may be useful when dealing with the bank and any potential legal proceedings.
3. Explain your situation to the bank: Clearly communicate your financial hardship, unemployment, and your mother's health issues to the bank. Some banks may offer temporary relief or restructuring options for loans in such cases.
4. Seek legal advice: Consult with a legal professional to understand your rights and options. They can provide guidance on how to navigate the situation and may be able to help you explore legal avenues to address the fraud or negotiate with the bank.
5. Look for alternative sources of income: While caring for your mother, explore opportunities for remote work or part-time employment to generate some income. This could help ease the financial strain.
Here are some steps you can consider taking:
1. Contact your bank (SBI): Reach out to your bank as soon as possible and explain the situation. Inform them about the financial fraud you've experienced and the challenges you're currently facing due to your mother's health and unemployment. They may be able to provide guidance or temporary solutions.
2. File a police report: If you haven't already, file a police report regarding the crypto financial fraud. This documentation may be useful when dealing with the bank and any potential legal proceedings.
3. Explain your situation to the bank: Clearly communicate your financial hardship, unemployment, and your mother's health issues to the bank. Some banks may offer temporary relief or restructuring options for loans in such cases.
4. Seek legal advice: Consult with a legal professional to understand your rights and options. They can provide guidance on how to navigate the situation and may be able to help you explore legal avenues to address the fraud or negotiate with the bank.
5. Look for alternative sources of income: While caring for your mother, explore opportunities for remote work or part-time employment to generate some income. This could help ease the financial strain.
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A.Dear Client,
Once a loan is not repaid by the borrower for any reason whatsoever, it is treated by the Bank as NPA. Accordingly, the Bank sends notice to the Borrower asking him/her for repayment of the entire dues lying against your loan offering suitable terms. In the absence of any response from the Borrower, the Bank starts the routine process of action prescribed under relevant laws for recovery of debt lying outstanding against the Borrower. You can make a prayer to the Bank for some more time to settle the dues but cannot escape yourself from your liability of repayment of your loans for any reason whatsoever. Moreover, legal actions may also be taken against you including filing a civil suit in court or initiating criminal proceedings against you. The banks may also make use of debt recovery tribunals in order to recover the dues they are owed from the defaulter borrower. Usually, Lenders are not legally obliged to settle a debt lowering the outstanding lying against debt, but because they want to protect their bottom line, they may agree to a debt settlement to avoid further financial loss. You can try to negotiate a debt settlement on your own, but sometimes it's typically done through third parties like debt relief companies, which you may hire to negotiate the settlement matter with the lender on your behalf. With this method, you will make payments to the debt settlement company rather than the lender Bank, along with chargeable fees. Debt settlement is an agreement between a lender and a borrower in which the borrower/Guarantor repays a portion of a loan balance and the lender forgives the balance. You may consider starting the negotiation by offering to pay 25% or 30% of your outstanding balance in return for forgiveness on the rest. But, it may be noted that while there are legitimate debt relief/settlement companies, there are also many scam operations of fake entities. So, if you're considering for settlement of dues, the Consumer Financial Protection Bureau(CFPB) suggests contacting your state attorney general's(AG) office and local consumer protection agency to ask if they have any consumer complaints on file about that company.. Further, a quick counselling session with a certified credit counsellor can help you to discover your options and choose the right path ahead.
Once a loan is not repaid by the borrower for any reason whatsoever, it is treated by the Bank as NPA. Accordingly, the Bank sends notice to the Borrower asking him/her for repayment of the entire dues lying against your loan offering suitable terms. In the absence of any response from the Borrower, the Bank starts the routine process of action prescribed under relevant laws for recovery of debt lying outstanding against the Borrower. You can make a prayer to the Bank for some more time to settle the dues but cannot escape yourself from your liability of repayment of your loans for any reason whatsoever. Moreover, legal actions may also be taken against you including filing a civil suit in court or initiating criminal proceedings against you. The banks may also make use of debt recovery tribunals in order to recover the dues they are owed from the defaulter borrower. Usually, Lenders are not legally obliged to settle a debt lowering the outstanding lying against debt, but because they want to protect their bottom line, they may agree to a debt settlement to avoid further financial loss. You can try to negotiate a debt settlement on your own, but sometimes it's typically done through third parties like debt relief companies, which you may hire to negotiate the settlement matter with the lender on your behalf. With this method, you will make payments to the debt settlement company rather than the lender Bank, along with chargeable fees. Debt settlement is an agreement between a lender and a borrower in which the borrower/Guarantor repays a portion of a loan balance and the lender forgives the balance. You may consider starting the negotiation by offering to pay 25% or 30% of your outstanding balance in return for forgiveness on the rest. But, it may be noted that while there are legitimate debt relief/settlement companies, there are also many scam operations of fake entities. So, if you're considering for settlement of dues, the Consumer Financial Protection Bureau(CFPB) suggests contacting your state attorney general's(AG) office and local consumer protection agency to ask if they have any consumer complaints on file about that company.. Further, a quick counselling session with a certified credit counsellor can help you to discover your options and choose the right path ahead.
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