Dear all,
i am in need of help from u regarding my educational loan.i will brief t Shortly and hope your best advice..
I have taken a educational loan from SBI during the year of 2008 for studies in abroad,for which i have pledged my fathers property worth of 50 lakhs,and due to some personal difficulties i cant repay the loan and it has become NPA,now the bank says outstanding amount is 12.25 lakhs which i feel is too much.iam trying to settle the loan by selling a part of my fathers property,but the bank is not allowing time to do that and not co operating me in anyway..i had provided them a letter that i will pay the overdues with in end of july,,they have issued a warning notice.to pay it with in 31-07-2013 otherwise action will be taken under SARFESI act.but as of till now i was not able to arrange d money.unless selling the part of land pledged with bank i have no other source,now i am frightened and frustrated when the bank officers will be coming to take possession of my property.i need better advice to get relief from this problem.and pls provide me with a smooth way to handlle this problem..but if the bank gives me further 3months time i can arrange some money in alternative way..
