86+ Lawyers are online 
Bank filed case for non payment of loan, please advise
26-Jan-2023 (In Banking / Finance Law)
my mother is guranter in my brother's personal loan of rs210000 now my brother is not able to pay loan and he pays only 4 emis of rs 10000 nad now is not staying with us the bank file case against my mother for loan recovery we have not enough money to repay the loan my mama g is helping us to pay but the total amount we collect with our all resource is only 90000 and we tell the bank that we have only 90000rs to pay but the bank says to pay total amount with intrest.we have only my mothers widow pension to survive tell me what can we do now.
Do not worry but I would like to submit at the first instance that if your mother is guarantor then the bank is entitled to recover the money from your mother, and thereafter your mother from your brother, if wishes. so. One think I would also clear that if your mother has no resources like property etc except pension then the bank cannot do anything for recovering the debt as the retirement benefits cannot be attached. Thanks
Helpful?
50+
50+
Adv. Navin Thakur
Delhi | 100+ Answers
CONTACT NOW
The bank has the complete rights to move against the guarantor for the repayment of the loan and the guarantor in turn can initiate any proceedings for getting the same returned/ refunded from the borrower. It would be advisable to approach the bank and let them know about your situation and to advise them to move against the borrower instead of the guarantor or instead give you additional time to repay the same. In case the banks do not agree then the conditions of your family, regulations of the bank/ RBI would have to be seen to find a solution to your problem.
Helpful?
26+
26+
Adv. Aditya Gupta
Delhi | 100+ Answers
CONTACT NOW
In that matter first liability arise towards your brother...
Provide complete details/or fact of this case, so that i can help....
You have to contest this matter before court as your circumstatnce....
Provide complete details/or fact of this case, so that i can help....
You have to contest this matter before court as your circumstatnce....
Helpful?
33+
33+
Adv. Shio Shankar Kumar
Delhi | 25+ Answers
CONTACT NOW
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Banking / Finance lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
