LawRato

Pending dues not cleared for personal loan now bank harassing parents


23-Sep-2023 (In Banking / Finance Law)
I had taken a personal loan in 2005 and paid 29/36 months. Due loss in my business I left my business and started to work and in 2009 left India. Now in 2016, a person reported to my home in Chennai and torturing my mom to make the balance dues with the interests, which he is stating about 80000. What is the best thing I can do to settle this and get out of this issue.
Answers (2)

Answer #1
618 votes
Hi, From your query, I presume that the loan is a unsecured one i.e., without mortgaging your immovable property. If you want to settle and close the loan then you need to initiate discussion with the bank officials directly. As third party are getting involved now because the bank might have transferred the debt to asset recovery companies.. If the recovery agents are harassing your parents, you can approach the local police and file a complaint.
Helpful? LawRato18+ LawRato
Advocate Shobhan M P

Adv. Shobhan M P

LawRato Chennai | 5+ Answers
Chat with Advocate Shobhan M P Chat 
Answer #2
973 votes
Sir you are accepting non payment. Thd banker has every rightyo recover the dues in legally permitted ways.now you have two option one your parents make the payments fully or partially after confirming the actual dues and interest or else lodge a Complaint against those persons for torture and harassment. The facts remains that your parents are morally responsible to answer for dues behinc you. My suggestion is please pay the dues after verifying actual outstanding Since you accepting the dues.
Helpful? LawRato18+ LawRato
Advocate N Sudalai Muthu

Adv. N Sudalai Muthu

LawRatoMadurai | 5+ Answers
Chat with Advocate N Sudalai Muthu Chat 

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.

Report abuse?

Connect with top Banking / Finance lawyers for your specific legal issue
Connect with a Lawyer
Comments by Users

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."

All Answers

Googling your legal issue online?

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

LawRato