I have an old outstanding of Rs.19000 of HDFC bank and Have outstanding of SBI credit card of Rs.35000 also I have some short term payday loans. I pay SBI on time before their due date and for the payday loans I always try to pay them without any delay in which I succeed 100% . Due to these payday loans I am stuck in a situation from where I cannot recover my self nor I can close the account of SBI or HDFC . My salary almost gone on repaying those payday loan. Due to my mistake which I done in earlier July cibil score reduced to 500 which now I manage to grow to 575. Though cibil was low I was unable to take any loan to repay those payday loan which are now become sevear headache for me. I just want to close those accounts. I am paying almost 5-6 interest k per month to those payday accounts. I was thinking if any bank or NBFC help me for a loan then I can close those all accounts and repay to only one bank or NBFC Defaulter
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Sucheta Dalal Trustee - Moneylife Foundation
Abhay Datar Abhay Datar is a consumer activist and is also Member of the Managing Committee of Mumbai Grahak Panchayat (MGP). He was Treasurer at MGP for over two and a half years. After working at Bank of Baroda for about 29 years, he retired as IT Manager. After retirement, Mr Datar joined Consumer Guidance Cell of MGP in 2008 and solved many cases related to banking including online fraudulent transactions, misuse of credit cards and ATM cards. Also handled cases related to mobile and mediclaim. Mr Data
Suresh Prabhu Mr Prabhu retired as Senior Vice President from HDFC Bank
R Bhuvaneswari After serving Bank of Baroda for almost 40 years, Ms Bhuvaneshwari retired as Chief Manager in 2013.
Yogesh Sapkale Yogesh Sapkale is Deputy Editor of Moneylife and writes on finance, credit related issues
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