Hi, i need an information regarding this case. My father in-law has taken a loan in my name for a machine in his factory. The loan amount is 10 lakhs and my father in law is the guarenter for the loan which he has taken in my name.He has taken the loan in my name as i am a woman and i will have less interest against loan taken, he told me that he will be paying the loan amount.He has given his house documents to the bank. Its been a year since me and my husband are staying separate from my in-laws due to family issues. Now my query is that what will happen when the loan wont be paid? will i be harrassed since its in my name? If so then whats the solution for this? Note that the factory is in my father in laws name, even the house is in his name. He is the guarenter of my loan. Help of some agents were taken while taking the loan in my name, and it was said that i am starting a new business in my father in laws land which i have taken as a rent from him, and due to that i am purchasing this machinery for which i am taking the loan. I do not own any factory, my father in law's factory was shown as my rented factory in which the machine was going to be placed.
