Hi sir i got mobile in HDB financial loan. I cleared all EMI's sir. But after 19 months they were civil case against for me sir. Yesterday I was paid main amount of my loan 2400 . But they asking 9676. They told me that 'We will call settlement'. Plz tell me sir what is the settlement and what we will do.

We can file a case for settlement of accounts , we can ask there books of accounts and do it in the prescribed procedure, and we can put you out of the issue , free from all the civil issues. You need to appoint me as your advocate , I'll walk you through the problem and set you free.

Kindly tell me the matter in detail, however from the above mentioned detail if you have paid all the E.M.I s according the Loan Agreement then you don't have to pay a single penny to the Company. also I think that there is No civil case against you as all this appears to be sham. kindly contact me for more details.

Ask them to send Every details and then take no dues.

Please book a consultation with me. I will be able to help you in this matter.

You can approach to district consumer court against the same. further details can be provided on documents

Advocate Aaditya
19 Aug 2021 06:51 PM

If no amount is due against you then u can appear in the civil suit and can file application for rejection of plaint.

May be due to default in payment or the EMI's, the banks charges additional costs in the form of interest which goes on increasing every month compared to the last month . therefore to know about the outstanding amount you can ask the bank to provide you the details or better you can go for a legal notice through Advocate.

The amount of 9676 might have accumulated due to default in payment of any of the EMIs, hence interest payable on it must have accumulated. Settlement here would refer to a situation where the lender (HDB Financial Services here) would reduce the payable amount for you and/or provide you some time to pay off the loan amount. However, going for a settlement is not much advised as, after the settlement, the lender informs this to CIBIL and other rating agencies. This can lead to display of negative credit behavior and so next time, it can get difficult to get a loan amount. Thus, it would be wise to not go for the settlement. The borrower can ask for more time instead of reduced outstanding.

Dear Srinivas Over and above the principal loan amount or credit card limit, in case of default in payment/ EMIs, the bank charges additional costs in the form of interest. Therefore your outstanding amount if showing as 9676. One is that you can ask the bank to give you a break up of the charges on their letterhead. Settlement will include a repayment plan suitable to you and the bank - through an agreed amount gets paid by you and does not affect your future credit rating. A settlement agreement may also be signed. Let me know if you need assistance on this matter.

First you send a legal notice through Advocate.