Darshan Shah / 09892727182 (Private Investigator) 03 October 2016

Urgent guidance required

Hi, a client of mine had taken a personal loan from a private bank in 2006 and also had used 3 credit cards from various banks, he was paying regular emi's but after 2008 his business closed and he couldn't repay the loan and credit card amounts. Now one of those banks are continuously calling and harassing his old aged and ailing parents, he lives in a flat and he is the second owner of the flat, first owner is his mother. I want to know what worst can the bank people do? Can they auction the flat to recover the amount? What steps can be taken to avoid the harassment to his parents?

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Darshan Shah / 09892727182 (Private Investigator) 03 October 2016

(Guest)

Repay loan taken or overdraft done.

arpit shukla (,) 03 October 2016

Bank can not recover property against recovery of unsecured loans unless your mother acted as guarantor , at maximum bank can lodge blank cheque duly filled out standing amount , if any given by you for security and if it is dishonoured by your bank they can initiate proceeding u/s 138 which may difficult to you . Moreover they might have updated your cibil credit score with such pendency and as a result there may be a difficulty for a further loan in future. You can caLl settlement also from bank but it's also not advisable . If want to know further call me on 9825371788