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Personnal loan and land property
02-Jan-2023 (In Banking / Finance Law)
I have two questions to get to know about to proceed further.
1. I have taken a personal loan with 60 months due and in that, I have paid 41 months due. Right now I am not working and unable to pay from December month, the question is I am getting the messages by stating to get a 90% reduced settlement if you are getting collection agent thread likewise.
Is it possible to reduce the amount in the final settlement?
2. My father holds my grandfather's property around 10 acre's and I do not have any on my name yet to transfer in future.
Is there any way to get a small amount from my friend by mentioning all those details in bond to ensure if I fail to return back the amount to him he can own those.
My sister and I only two kids available for my father.
regarding your first question if the bank agents are troubling you then approach the court to have a breathing time and after you can settle the loan amount by the way of negotiation and for your second question if your father is alive then your father is the owner of the property if there is any partition between your father and is brothers and sister then your father is the owner of his property only and the lifetime of your father you are not eligible for his share after the death of your father his legal Heirs equal rights in the property
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Adv. Satish Kumar
Chennai | 500+ Answers
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