Help Required

[Deleted member 11974]

Hi,
My father by mistake opted for a loan on credit card and now that he doesnt need he isnt getting an option to cancel if without any forecloure charges because the amount has been disbursed.
Kindly suggest me what to do

 

[SuperKnight]

1. Repay whatever loan amount was taken so they dont charge anything on the interest side. Mostly they treat loan on cards as overdraft
2. Check what is the period when the preclosure charges wont apply and get the loan closed

 

[Deleted member 11974]

wont this attract a foreclosure charges? they will put this on credit card
the cc woman said that the loan follows the card billing cycle and my father just took it at the end of the previous billing cycle so the 1st emi has been generated

1. Repay whatever loan amount was taken so they dont charge anything on the interest side. Mostly they treat loan on cards as overdraft
2. Check what is the period when the preclosure charges wont apply and get the loan closed