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Deceased father had taken loan,family has no source to repay it
29-Mar-2023 (In Civil Law)
Sir/maam. I'm a student, recently my father had expired. Now some people are coming to me and asking your father borrowed money from us we had cheque had promissory note . But we don't have any property nd now it is very hard for our livelihood too, we even don't have any source to clear their money. Could please help me with a suggestion? Your suggestions may b very precious to me please reply me... Thank you
Any loan taken by a person should be repaid by the person himself. If the person has expired, the Borrower, the person who gave loan to person who expired, can claim the money lent from the property / estate of person expired.
Since your father has no property left behind the Borrower cannot claim the same from you. You are not liable for the loan taken by your father. Concentrate on your future.
Since your father has no property left behind the Borrower cannot claim the same from you. You are not liable for the loan taken by your father. Concentrate on your future.
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Do not worry at all. You say your father had expired. If your father had taken a loan and if he had not repaid it then the creditors can proceed against the property of your father if any. They cannot proceed against you or your other family members personally or against your individual properties even though they have cheque or Promissory note with them. MY ADVICE IS DO NOT PROMISE ANTHING TO THEM. DO NOT SIGN ON ANY DOCUMENT OR PAPER.
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Adv. C Hari Prasad
Nizamabad | 100+ Answers
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Dear Ravi,
The Borrowers cannot demand or ask repayment of money from you. The cheque and promissory note is not valid against you. They have got no business to demand any money your father has taken from them.
Legal proceedings will only be initiated with false allegations to harass you to extract money by hook or crook.
We need to know on whose name the property registered. Then we can suggest the legal course of action.
The Borrowers cannot demand or ask repayment of money from you. The cheque and promissory note is not valid against you. They have got no business to demand any money your father has taken from them.
Legal proceedings will only be initiated with false allegations to harass you to extract money by hook or crook.
We need to know on whose name the property registered. Then we can suggest the legal course of action.
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