When a person takes a personal loan, they should be thinking of the time after the loan too. At times, a person takes a loan and just considers the moment. Later, he/she has to pay the installments and every month isn’t really considered. When you have such thinking, you often see yourself in debts and then you have no idea how to get rid of them. When that happens the bank of 10 cents to a defaulter notice. Once your label defaulters your financial profile is hampered and your CIBIL score is lowered. To avoid all of this it is very necessary to pay your installments on time and mostly before the deadline.
Banks are very cooperative with their customers however there is sometimes no chance of cooperation. If you have defaulted on your loans quite a lot then there are chances that you won't even get a loan in the second place. If that is not the case and your CIBIL has been very good before you take a specific loan then the bank will always give you various options in which you can convert your loan and then pay the bank the amount of money that is required.
So when your bank sends you a defaulter notice the first thing you should do is take the notice and go to the bank and inquire about it. See to it that all your installment has been updated well and if they haven't been updated inform them that you have paid your insurance properly. If you have any proofs of screenshots of online payments then produce those in front of them. If you have receipts of payment of installments then see to it that you take them along with you as well.
If you haven't paid the installment properly then tell them honestly whatever reasons you might have. There are high chances the bank will understand your side and will help you to get better schemes. After that, you and the bank mutually discuss various ways of payment methods that are comfortable for you in all senses. The bank also provides you with suitable schemes that can increase your payment and can help you to be consistent at it.
Do not try to ghost if you have defaulted at your credits. This puts a very bad image of you in front of the bank and makes it very difficult for the bank to trust you for various schemes and more loans in the future. See to it that you are very honest and direct with your bank or any lender that you have chosen. Usually SBI personal loan schemes are very flexible and convenient for the customers.
Also Read:- I want to go on vacation I want a Personal Loan
No comments:
Post a Comment