Loan
Vipul
(Querist) 28 December 2017
This query is : Resolved
Hi all sir/ madams
I m vipul , my father had taken mortgage loan cc from bank after some time my father was expired and due to some financial problems we could not pay due amount to bank , now bank have classified as a npa and sent us notice u/s 13(2) of sarfesi act 2002
Please suggest what remedy are available for us
And any relief available after the death of borrower
Thanks in advanced
Sankaranarayanan
(Expert) 28 December 2017
directly go to the circle office and approach the concern Debt recovery officer.The liability is a liability so it has to pay under any circumstances.Only thing you can request them to waive the part of interest
Vijay Raj Mahajan
(Expert) 28 December 2017
Liabilities of deceased pass on to his heirs and they are liable to pay off his loans, for this reason the notice of 60 days served up on you u/s 13 (2) of the SARFESI Act.
You can settle the dues with the bank in an amicable manner otherwise you may loose the property mortgaged with the bank.
Bank in most cases are happy to settle the dues rather acquiring immovable properties which become difficult to sell in the market and recover their complete liabilities.
Yes the principle amount you will have to completely pay off the only relief will be in the interest being charged against the principle amount of loan.
Kumar Doab
(Expert) 28 December 2017
When you post with your ID you may also post what is your occupation e.g; If you are employed, employed with a Govt establishment.
Kumar Doab
(Expert) 28 December 2017
Try as suggested. You may get relief.
Preferably take help of a very able senior LOCAL counsel of unshakable repute and integrity specializing in such/civil/DRT matters and having a successful track record.
Kumar Doab
(Expert) 28 December 2017
Perspectives; Get the property valued for market value and find buyer and agree at acceptable price and get in touch with lender and get rid of the debt.
If default/NPA continues and bank/lender proceeds with auction then IT may not fetch the market price and balance debt if any, may still be recoverable.
If bank/lender proceeds with auction then if IT fetches say; the market price/value higher than debt then balance if any, may be paid, subject to completion of formalities by legal heirs.
Act to defend your interest.
Guest
(Expert) 28 December 2017
3 (three) absolutely vague and irrelevant posts made by Mr. Kumar Doab (fake expert) as of playing merely a number game with the sole intention to add scores to his credit.
By the way, how the occupation of the querist has any relevance for finding remedy of the problem as desired by him, when Mr. Kumar Doab has instructed him, "When you post with your ID you may also post what is your occupation e.g; If you are employed, employed with a Govt establishment." APPARENTLY, JUST TO ADD NUMBERS TO HIS POSTS WITHOUT ANY JUSTIFICATION !
