The follow-up from the bank will start as soon as a single repayment is missed. But, further proceedings depend upon the customer’s approach to the issue and his current circumstances. The legal procedures will definitely not emerge out of the blue, it is a process resorted to if initial measures do not yield results.

How is if you don’t mind my asking?

If you don’t mind! If you don’t see what you want just ask for it. If you don’t see what you want just ask. If you don’t see what you want please ask for it. If you don’t see what you want please ask. If you don’t see what you want, just ask for it. If you don’t see what you want, just ask. If you don’t see what you want, please ask for it.

What does it mean if you don’t see what you want?

If you don’t see what you want, just ask (for it). If you don’t see what you want, just ask for it. If you don’t see what you want, just ask. If you don’t see what you want, please ask (for it). If you don’t see what you want, please ask for it.

What happens if a student defaults on a loan?

He may get the option to settle the loan through a small payment. Recently, a bank offered a settlement offer to its NPAs in the education loan sector, in which up to 90% of the principal and 100% of the interest were waived off.

When to opt for a loan restructuring or a new loan?

If the interest on your existing loan is higher than another loan product that you can get from the banks, you may opt for a new loan instead of going for a loan restructuring. For example, let’s suppose your existing loan is a personal loan product in which the bank’s interest rate is 18% p.a. and the remaining tenure is two years.

Can a lender extend the repayment period of a loan?

Eligible borrowers are allowed to extend the repayment tenure so that they find it easier to repay their loans with a reduction in the EMI size or to get the moratorium extended by up to two years subject to the lender’s terms and conditions.

What happens when a guarantor fails to pay a loan?

If there is a guarantor, the bank might approach him, as according to the guarantor agreement, he is supposed to pay the loan when the applicant defaults. The follow-up from the bank will start as soon as a single repayment is missed.