Liability of wife & son to repay husband's small business loan amount

My father died in the month of may ,2014 He has Jewel loan and this business loan in  bank. But we know he was took jewel loan only from that bank. For this jewel he was paid almost 90% when he alive. So then i have paid remaining balance. While clamming jewel they said your father have an another business loan in this bank, First settled the loan amount after that you can claim the jewel. At that time we don't have money and am job less person so we have leave it. Now the bank manager and loan section officer called me and said you and your mother signed as guarantor in acknowledgement form. You and mother should come and sgin in renewal form and pay the loan amount if you’re not signed we will file case against you and your mother. We don’t signed any acknowledge form of renewal but we have filled and signed clam form and submitted required documents like death and legal heirship certificates.Now they are threatening us and spoke harshly.Please help us.What we do further?

Answers (1)

If you and your mother had guaranteed your father's business loan, you are liable to repay the loan. It is better to negotiate with the bank for a one time settlement. You may ask the bank to show you the papers you signed.

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

Popular Banking / Finance Lawyers

Advocate Harish Malhotra
District Court, Gurgaon
22 years Experience
Advocate Shikhar Khare
Jangpura Extension, Delhi
6 years Experience
Advocate Sunil Dalal
New Friends Colony, Delhi
22 years Experience
Advocate R.K. Gupta
Goyal Vihar, Indore
19 years Experience

" has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

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 and has been responded by one of the Banking / Finance Lawyers at to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at or book a Detailed Consultation with a Lawyer of your choice to address your query in detail.

Similar questions

Hi,State Bank of patiala is charging a cash credit limit takeover charges of 4.25% however we are not liable for the penalty, need to file a legal cas…

Read More

Sir, I have taken Personal Loan from a co-op Bank in 2012. Upto Oct.2014 I had paid all the EMIs of Rs.5700/- per month regularly. But in Oct 2014 I h…

Read More

Hello, My husband had forced me to sign as guarantor to his loan for business. He has lost his business completely and underwent open heart surgery. N…

Read More

In the recent judgment of supreme court 1077-1081 of 2013 in CBI vs Ramesh gelli and others , court defined private banks as performing public duty an…

Read More

Talk to a lawyer for your legal issue