Hi abcd, This might be possible after the bank gives notice to the defaulter. I had procured a loan from M/s Axis bank and had been paying regular instalments till nov 16. Owing to COVID-19, several banks were offering moratorium on loans which ended on Aug 31st. Shall my father is eligible for getting Personal/Housing loan now…? Be strong. Remember, your intent to pay off the loan should be evident to the lender. In year 2015 I’d taken home loan top up of 30 lacs . After his marriage he left that home & not paying even single EMI & not ready to transfer the deed or Power of attorney of that particular home. What is the solution ? Try talking to your bank and explain your financial situation. Defaults do affect one’s Credit Score. Hi Dattaraya, You can ask the bank to remove your brother’s name from the loan application. It's best to consult a financial or turnaround advisor to assess affordability levels. I wish that we could return the favor. everyday i get in more pain emotional and physical, i feel so weak and abandoned! You can explain your situation to your bank and tell them that you have them to take over the property as you are unable to pay the EMIs. I did it again. the scary thing is, is that if i go t sleep i might not wake up tomorrow… i want to die. Debts typically become the responsibility of your estate after you die. This work can be used as a "Sword of Damocles" . Some lenders of private student loans forgive the debt upon death, including Sallie Mae and Wells Fargo. Plan A option does depend on the debt being paid back in full over a relatively short time period of say 6-18 months. Have you been paying your existing Credit Card bills and loan EMIs on time? If I had, I would have done it till now. Gumpy. Me & My Elder Brother bought a home in 2014 & took a home loan. Right now my current salary is about 94K and I’m unable to pay all these things within a period of 5 years. What can I do now? if you keep fighting for your life and not with your life then you will beat this, beat cancer you can do it. We are 2 brothers. Are your PAYE payments to HMRC in Arrears? Even when the family does not need to open a probate case to settle the estate, creditors might try to sue. If you’ve defaulted on payments, then you are likely to have a low Credit Score and negative remarks on your credit report. Before settled can I get the job in any bank? For e.g. wbu r u over or under 18 ? That’s a good score. If they have … If they can provide me some time I’ll surely pay with all the interest of what they’re currently added. Yes, sometimes you do end up repaying heavily because of the interest charged. What we do while we still live is another story, but living or dead, matter or energy, we are not worse for you being here. You could also try talking to ICICI bank to let them know that you are still receiving calls. I carry an EMI of Rs.43,000/- (HL-24318/-, PL-11448/-, VL – 6906/-). Whats the process ? But there is no one to help me out and the bank has shut its ears and there is no body in the bank to understand this problem. i need someone too care and to help and to listen to. I have since received a notice from the bank declaring the asset as npa. But this also might mean that your debts eat up assets that you had hoped to leave to heirs. I can’t speak for anyone but myself in saying that I can’t truly empathize with the physical suffering you endure. if you fall down then just get back up again. I can say that I can empathize with your emotional anguish and despair, though my reasons are different. Please note, however, that interest will continue to accrue on your outstanding even if your repayments are allowed by the bank to be extended.