Bank issues a notice against a jobless man.

I am a jobless man from Chennai. I was working in a Pvt Company now job less since Sept 2013. I had signed as a Guarantor for my Ex-Colleague for a Loan in a Nationalized Bank. for a Loan of Rs.4.0lacs. He had committed suicide last month. Now the bank had sent me a notice. (am yet to receive the Notice) Even i had taken a loan from the same bank for Rs.1.0 Lac. Still i had to pay Rs,33000/- which is due ever since i am jobless. How to go about? Kindly advise.

Answers (1)

481 votes
The bank can attach your property if it is in your name. In case not you would be held liable for punishment.

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