Educational loan
Priyanka
(Querist) 14 April 2012
This query is : Resolved
thank u all.............................................................................
prabhakar singh
(Expert) 14 April 2012
Visit the court where case is filled by the bank ,take copy of there claim, engage a civil lawyer versed in examining account books,give reply in court on the basis of loan agreement and payments made by you with proof of payments you have. Ascertain how much you have paid so far and how much it counts togather with interest.
c.p.s. ramachary
(Expert) 14 April 2012
As rightly said by Mr. Prabhakar Singh you have to obtain statement of account and get it examined by an advocate well versed in the bank accounting system. You have also to obtain copies of loan documents executed by you. All education loans are repayable in installments(fixed or variable). There will not be anything like increasing installments from Rs.5000/- to 10,000/-. Only after details are furnished by you suitable advise can be given
M/s. Y-not legal services
(Expert) 14 April 2012
yes.. well answered by our experts..
i think the bank may be filed money suit for recover the loan amount., even without knowing the plaint we cant come to conclusion.,
did you received any summons from any court? if you received summon mean just appear on the next hearing date without fail., otherwise suit will be decreed as exparty..
just keep all records regarding your loan transaction., you can succeed your case..
-tom-
M/s. Y-not legal services
(Expert) 14 April 2012
and the banking ombudsman is right..
you are late., you should be knocked their door earlier.. while a litigation is pending before the court they can not interfere with your problem..
-tom-
ajay sethi
(Expert) 14 April 2012
bank is bound to give complete statement of account showing amount of principal , interest repayed by you .
send a legal notice to bank asking for detialed particulars
Shonee Kapoor
(Expert) 14 April 2012
You have been guided well.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
malipeddi jaggarao
(Expert) 16 April 2012
For a loan of Rs.3.90 lakhs, monthly repayment of Rs.5000 is insufficient. Whether the Bank has sent you any lawyer notice? What is the overdue position? Whether you have received any summons from any court? If you have repaying Rs.10000 every month, generally will not resort legal action. Whether the Bank has filed any proof with Ombudsman that they have initiated court case against you? You have every right to go to the Bank and ascertain the above required information. You represent the Bank to reschedule the EMI even now. If they are sure about recovery, they will pursue legal case. Try once again. If they do not listen to you, wait until the court summons are issued, get a copy of plaint from the court and engage a lawyer to fight your case representing that you are willing pay Rs.10000 every month.
