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Legal action if person is unable to pay his educational loan
29-Dec-2023 (In Banking / Finance Law)
Sir my eductional loan only half we paid remaining half not paid for more than eight years. Is there any waiver for that loan? Bank person often coming. I having health issues and i m not working. Unable to pay back that balance amount. What is rule now.? Need help. Help me please.
If you have signed any Revival Letters during the eight-year period reviving your liability, you are legally bound to repay the loan. You may negotiate with the bank for a One-time Settlement, pleading about your ill-health and financial condition.
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Adv. Swaminathan Neelakantan
Coimbatore | 400+ Answers
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