personal loan

raju (Querist) 17 July 2011 This query is : Resolved
sir/madam this is raju from hyd...my father was a govt employee.who took a loan amount of 1.3 lakhs from canara bank in 2004..payment for the last installment iz 31 july 2007...and he retired from the service on 31 st july 2007.after he died in 2008 without paying the loan..and his subordinate given the witness for the loan we hve been getting the notices for the past 3 months regards to attend the court..in that notice they are not mentioned how much money has to be recovered....do they give any attachment to my mom pension?can u tell me wt z the exact peroid of time to pay d personal loan?after how many years they put d personal loan as bad debit...we r just living on d pension amount and we dont hve any assets &income sources....wt do u suggest me ?

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M/s. Y-not legal services (Expert) 17 July 2011
Just meet the concern banker as in person or through by your counsel. Enquire about the arrears of your due. And try to amicable settlement if anything possible. Or ask sufficient time for repay the amount before any legal proceedings.

Guest (Expert) 18 July 2011
Dear Raju,

If your mom has given the surety not more than 1/3 part of her pension (not in full) can be attached by court of law. Even if the pension is attached the same cannot be attached for more than 24 months for that particular loan amount.

prabhakar singh (Expert) 18 July 2011
YOU HAVE REPEATED IT.I ADVISED YOU IN DETAIL

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