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Education loan settlement issue with Bank. How to proceed ?
27-Apr-2023 (In Civil Law)
I have taken education loan from SBI in the year 2008 and i have completed my degree in 2012, i didn't get job nearly one year, later got into small company with low salary so that could't able to pay Education loan through EMI and after my marriage i quiet my job. now the problem is my mothers pension account is linked with Education loan, from last September without our knowledge they started detecting entire pension amount also they blocked with lien amount of 30,000 so we could't able to withdraw money ( my family is depends on pension amount i have one younger sister and brother both are studying ) , my doubt here is i am 26 year old woman and married, currently not doing any job, is it legal to detect amount without our permission entire pension amount from my mothers account ? even we have approached bank manager for loan settlement, they are not accepting it.
No. The Banks cannot attach pension account to recover loan dues. You could send a representation to the bank to release your mother's account. If the bank continues to deduct you could approach the court for appropriate remedy.
Helpful?
45+
45+
Adv. Vasavi Sridevi Sivanandam
Chennai | 200+ Answers
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HELLO,
IT IS YOUR DUTY towards repayment of loan to the Bank. It seems from your write up your mother has had vouchsafed for your borrowing of Educational loan. YOU HAVE TO see the terms of repayment of loan. Since your mother a Pensioner (drawn from the same Bank ) from the same, the Branch might have debited your loan amount from your mother's pension. But it is absolutely wrong to do so. At the same time when you wan t to settle the loan amount the Branch will certainly accept such action .
call me for for further legal assistance.
IT IS YOUR DUTY towards repayment of loan to the Bank. It seems from your write up your mother has had vouchsafed for your borrowing of Educational loan. YOU HAVE TO see the terms of repayment of loan. Since your mother a Pensioner (drawn from the same Bank ) from the same, the Branch might have debited your loan amount from your mother's pension. But it is absolutely wrong to do so. At the same time when you wan t to settle the loan amount the Branch will certainly accept such action .
call me for for further legal assistance.
Helpful?
28+
28+
Adv. R. Sundaramurthi
Chennai | 100+ Answers
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