Questions & Answers
How to convince the bank to reschedule personal loan payments?
Hi,
I have an ongoing personal loan with a bank, the current outstanding principal amount is AED 80,000/. This is through my salary account and until today, I haven’t missed even a single payment.
Here, I have requested my bank to reschedule the current outstanding principal amount which is AED 80,000/- over 4 years of tenure but they have rejected my request and provided me with a reason that my Etihad Bureau Scores are low.
I have explained to them about the previous scenarios where I wasn’t able to pay on time for my credit bills and there were some other late payments related to the telecommunication.
Long story short, They are not providing me with any assistance. As of now, for me; paying an EMI of AED 4,800 every single month seems very difficult.
Please advise.
Hello,
You can make a payment plan, and submit it to the bank.
Since you have paid money the including the principal amount and interest, hence it is better for one time lumpsum settlement or to make a settlement agreement with the bank for a smaller payment or there are other ways too.
We are in recovery and litigation, please contact us for further assistance with your case.
Please call or e-mail us.
Disclaimer- The above-referred view is not a legal opinion, these opinions cannot be challenged or presented before any court of law.
