about educational loan

Querist : Anonymous (Querist) 01 December 2015 This query is : Resolved
Hi...i have taken an educational loan of 3.21lacs in 2006.till march 2014 i was paying emi.after that i stopped repayment because of my unemployment.my father is a teacher and his monthly salary is 10k .today bank has called and told that they have filed a suit in civil court.i am feeling helpless.what should i do now? What are the consequences ? Plz tell me.

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ADV-JEEVAN PATIL, MUMBAI (Expert) 03 December 2015
Your intension is to pay loan back, plead for extended time for repayment. Of loan is against mortgaged property, property can be attached.

Rajendra K Goyal (Expert) 03 December 2015
No reply to query from anonymous.

Querist : Anonymous (Querist) 04 December 2015
One of my friend suggested me that you have not received the notice , so dont go to lok adalat and after that start repaying atleast some amount regularly..then bank will not pressurize me.

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