M I liable to pay the loan taken by in-laws
26-Jul-2023 (In Family Law)
My in-laws took so much debts and I pay it after my marriage by selling all my Gold and from my savings.Now again they are forcing me for money. Cibil rating of my In-laws is negative and arrest warrant also issued against my mother in law. I am an accounts professional.I don't want to Destroy my records and future because of there acts.I want to declared it legally that I am not liable for loan taken by my Husband and My in laws. Whats the procedure. plz help......
Hello mam!.... If ur question is against liability thn simple answer legally is NO. You r not liable, personally you may help thats ur wish. Now legally speaking if u want to take any action against your inlaws thn u can lodge a complaint against ur husband and in laws regarding domestic violence and forcefully asking u to pay their loan by selling all ur gold or stridhan which u received from ur parental home.
You definitely is not responsible for loans taken by other family members. However, if you are a joint applicant to the loan its a different issue. In case you are the guarantor in any of the loans, then also your records cannot be negatively impacted other than a situation where there is an order to recover the dues from the guarantor.
If there is a forcible action by your in laws, it can be termed as dowry. Further, it appears that you were forced to part with your Stridhan.
Its definitely your call whether you want to continue with the relationship and be tortured mentally and financially; or call it quits; or to take up the financial instability of your family in your stride and try to help them recover. If its the latter, whether they support you in other forms should determine your decision.
If there is a forcible action by your in laws, it can be termed as dowry. Further, it appears that you were forced to part with your Stridhan.
Its definitely your call whether you want to continue with the relationship and be tortured mentally and financially; or call it quits; or to take up the financial instability of your family in your stride and try to help them recover. If its the latter, whether they support you in other forms should determine your decision.
first see whether you signed such agreement as a surety for that loan if yes, than you are vicariously liable for such a loan or better to contact your lawyer before making any decision.
first see whether you signed such agreement as a surety for that loan if yes, than you are vicariously liable for such a loan or better to contact your lawyer before making any decision.
first see whether you signed such agreement as a surety for that loan if yes, than you are vicariously liable for such a loan or better to contact your lawyer before making any decision.
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.
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