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Manjula   21 December 2016

Education loan

Hi sir this is Manjula, as I had taken education loan in 2009 of Rs 400000, till now along with interest it is 5,75,000 for studying btech in gitam university, while relieving I didn't get job, due to recession I didn't get job even off campus After that I got married having 2 kids, due to my health condition I didn't continue any job for 4 yrs now I got a call from to repay the loan, due to this reason my husband left me, because of that reason my father health condition is not at all well, no source no income what to do am not able to understand, I sold all my gold I got Rs 1,50,000 so I want to go for settlement does it consider defaulting ,In future if I got job after that I want loan they will give or not plzz suggest, what to do now to approach the bank.


Learning

 7 Replies

Ms.Usha Kapoor (CEO)     22 December 2016

Approach Lok Adalat attached to the distridct court. Move an application there they will send you to Lok Adalat.. They WILL SUMMON THE OPPOSITE PARTY ALSO FO R A SEWTTLEMENT IF  The OPPOSITE PARTY AGREES TO BE BOUND BY SETTLEMENT. tHEY WILL MEDIATE BETWEEN YOU TWO AND BRING OUT  A SETTLEMENT and make it easier for you to repay debt on murtually agreeable terms. Its decree is equal to a civil court decree and is binding on both the parties.If you appreciate this answer please give me a like on my profile.

G.L.N. Prasad (Retired employee.)     22 December 2016

Except convincing Bank authorities for a compromise, there is no remedy for Non Performing assets.

P. Venu (Advocate)     22 December 2016

As the loan amount is 4 Lakhs, no guarantee or guaranteer is involved. In principle, educational loan is granted is against the future eaning capacity of the student. As such, the recovery cannot be effected from the estate of another person, parent included. However, outstanding debt would adversely affect your credit worthiness.

Collie davison   13 January 2017

I require a loan that gives me the cash in my grasp, has a settled loan fee, and permits conceded installment essay writing help. Does anybody know about any student loans that offer these choices? Stafford offers a large portion of them anyway I don't get the cash close by. Much appreciated!!!

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