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I took an education loan in 2009, but due to financial difficulties, I couldn't repay it, and my account became NPA. After the cheque bounced, I received a summons to appear in court. How can I settle the account?
To settle your education loan, first contact the lender and request a settlement or revised payment plan. Negotiate for a reduced settlement amount or a suitable repayment schedule. If you have received a court summons, consult a lawyer for guidance. Once an agreement is made, ensure payments are made and obtain a no dues certificate from the bank. For further legal assistance contact us on our helpline number.