Loan settlement
Vaman
(Querist) 19 July 2015
This query is : Resolved
Sir/Madam
MY father had borrowed a loan from one of the bank and three years back my both parents died .
After the death of my father i had request bank to settle the loan but dint responded to me .Now they are telling me to pay 2.5 lacks which impossible for me and also they deducting installment from sureties.
please help me in this matter.
Thanking You
SAINATH DEVALLA
(Expert) 19 July 2015
Did U give a letter regarding the same to the bank?Did U get an acknowledgement from them?
Naturally the bank will certainly proceed against the sureties.
Kumar Doab
(Expert) 19 July 2015
You are citing the deficiency of the bank and you may have to establish.
Your witnesses etc can help you.
Rajendra K Goyal
(Expert) 19 July 2015
After the death of the borrower, the estate / property of the deceased and the guarantor (if any) would remain liable to pay loan.
Bank has right ot recover from the surety.
Vaman
(Querist) 20 July 2015
any option foe me
SAINATH DEVALLA
(Expert) 21 July 2015
Some thing vital is missing in UR response to the experts,as U R searching for options.Had U really approached the bank for settling the loan,they would have responded positively,no bank will be that harsh on the loan of a deceased person.
Vaman
(Querist) 21 July 2015
atleast 15 to 20 times i requested
SAINATH DEVALLA
(Expert) 22 July 2015
Then why didn't U complain to their Regional or Zonal Office regarding the same
