EP pending due to bank loan overdue

[carlosbenz]

Hi guys . I had taken loan from bank in singapore as I was working in singapore . But now my project over and I had to go back my country so I could not pay loan amount . But now I again got job in singapore and my EP is status is pending . Will my EP approval affect coz of this ? Plsss reply thanks

[sundaymorningstaple]

It's doubtful, but always a possibility.

[ecureilx]

Hi guys . I had taken loan from bank in singapore as I was working in singapore . But now my project over and I had to go back my country so I could not pay loan amount . But now I again got job in singapore and my EP is status is pending . Will my EP approval affect coz of this ? Plsss reply thanks

Have you been in communication with the bank ?

As SMS says it's doubtful but you never know if there's a "caveat"

[carlosbenz]

no i have not communicated with bank yet . should i communicate ? but scaring if communicate and if the take legal action which affect my currently EP approval pending ? what should i do ?

[PNGMK]

1. Stop borrowing money. 2. Work out a repayment plan with the bank - you need to work with so that they don't sell of the debt and/or try to force a court judgement on you - that means that you will begin to suffer legal problems. Ignoring their calls and emails and letters will not help. Act today. Ring them up - work out how much you owe to all of them and propose a payment plan. You can ignore the illegal lenders - they can't do much apart from harassment.

[carlosbenz]

Yes i want to pay them back but unless i got job there how will i pay ?? now i got job already in singapore so i will pay them . but to start work i need my EP get approve ...m not sure will my ep get approve or not..if not then how will i work there and pay back ?

[ecureilx]

Yes i want to pay them back but unless i got job there how will i pay ?? now i got job already in singapore so i will pay them . but to start work i need my EP get approve ...m not sure will my ep get approve or not..if not then how will i work there and pay back ?

Catch 22.

Now it's the banks problem if your EP doesn't get approved ?

Nice ...

[PNGMK]

Idiot. He basically is saying he doesn't want to pay back unless he comes to Singapore. OP you can pay back from overseas. Secondly the minute the bank gets a judgement or decided to sell of the debt those guys will find you and force you to pay according to your local country rules AND your debt will be even more!

[JR8]

Yes i want to pay them back but unless i got job there how will i pay ??

That's your problem, not theirs. How would you pay a debt collector standing at your door holding an axe? Might help focus the mind
Walking out on your debt has unexpectedly come back to bite you eh?

[carlosbenz]

Guys i wanna pay them back..but as of now i dont have much amount in my hand..i could only pay once i got a job there...it has never happened to me ever..but first time stuck in this situation ..i never take loan from anyone...but this first time i stuck...i need your suggestion and guidance please what shall i do ? please guide i dont understand what to do now ?

[PNGMK]

OP - ring or write the banks. Put this in your letter....

"Sir/Madam,

It has come to my attention that I owe your esteemed institution a considerable sum. Please note that due my situation being unemployed in India at present I do not have the funds to repay you. I however have been offered a job in Singapore and on my return I plan to pay you back at XXX per month. I would appreciate if you could hold off on any legal or collection action in the mean time as it will hamper my ability to secure employment in Singapore and hence reduce my ability to repay the debt I owe your institution. I intend to land in Singapore in XXX and begin repayments on the XX of XXX month with my first pay cheque.

Most sincerely your humble servant,

Rajish Modi
"

[carlosbenz]

okay thanks you so much guys . i will do that...but again please sorry m asking this nonsense question again but do you think is it really required to write me to bank ? what if they already taken action again me in credit control office and my ep is holding coz of that ? after writtting to bank will they reback action agains me ?

[PNGMK]

okay thanks you so much guys . i will do that...but again please sorry m asking this nonsense question again but do you think is it really required to write me to bank ? what if they already taken action again me in credit control office and my ep is holding coz of that ? after writtting to bank will they reback action agains me ?

You're actually sitting there in your village hoping they forgot about a debt? Dream on. IF YOU DO NOTHING it only gets worse.

[carlosbenz]

no no guys i will be paying them no worries but just to want to know if they already has taken action in credit control unit then will they take it back ? i mean i want to know so that EP get approved ? ..will they take back action agains me ?

[PNGMK]

no no guys i will be paying them no worries but just to want to know if they already has taken action in credit control unit then will they take it back ? i mean i want to know so that EP get approved ? ..will they take back action agains me ?

No lah. This is a low risk situation.