I need advise to solve banking dispute?

. I received the compromise proposal on date 26.09.2008, according to that I had to pay Rs. 18.50 Lac in four quarterly installments with simple interest @ BPLR. Due to some unavoidable circumstances I could not paid those installments in time. As my business is totally closed and I have failed to pay the amount as per Compromise Proposal and that was lapsed on 30.09.2009.


My unit was closed due to various reasons, but I had thought of clearing the bank dues by arranging the money individually borrowing from friends and relatives. I have deposited Rs. 1026574.00 till 31.03.2010 and after that I deposited Rs. 10000.00 in April and Rs. 10000.00 in May. I deposited Rs. 50000.00 as a token money on 27.05.2010 and submitted my request for your consideration on that date. I am willing to clear the entire principle amount as told me on 27.05.2010. It is difficult to me to pay all the interest charged by your bank because I have no money and I will borrow money from the nears and dears. I can鈥檛 pay the huge amount of interest. I need concession in interest rate. This is my request is for the lowest simple interest rate and revival of the compromise proposal. please give me advise.|||In the USA they would cut off the interest if you agreed to pay the amount owed in one lump with the comment that they would close your account and never lend you money ever again.





In the USA there is a government agency wherein if you can't make (and are behind on) your payments on all loans that you owe then that agency would talk with your creditors and see if they can lop off the interest for you. Some creditors would agree to do that (if you cut up all your credit cards) and some would not agree.|||You need talk to the BANK. You posted the question on a public question and answer board. NO ONE here can do ANYTHING for you. You didn't even tell us WHO you owe.





The first answer is 100% wrong. There is NO government agency in the US that could help with this situation. A lump sum settlement only stops interest if you pay the ENTIRE lump sum NOW.