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Father gave gurantee to a person for an car loan


29-Apr-2024 (In Recovery Law)
My father given a car loan gurantee in 1994 to an person he didn't even know the loan amount was 1,22,000/- the principal borrower didn't pay the last emi which is total 49000 the co operative bank put the amount to 308534/- my father died in 2020 I didn't know about this know I am unemployed I got the legal notice on my mother name I told the bank I can pay the my share from the principal amount but they are not agree and saying the they spent money on this case and they want more then that
Answers (3)

Answer #1
896 votes
If you also wish to go legal then first of all you need to para-wise reply to the legal notice addressed to you. And in that reply you can write down your inability to provide the loan amount and suggest the bank officials to settle it to some mutually agreed amount. For more legal assistance I am just a call away.
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Advocate Jitender Singh

Adv. Jitender Singh

LawRato Delhi | 1000+ Answers
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Answer #2
767 votes
there is no need to pay any amount ,as your father is surety in this case ,even from that amount you and your father do get anything, the bank can recover only from the borrower or legal representative of the borrower,not from the legal representative of surety
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Advocate Mukesh Kumar Sah

Adv. Mukesh Kumar Sah

LawRatoDelhi | 200+ Answers
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Answer #3
582 votes
please dont pay money to bank send proper reply of legal notice.. share copy of legal notice with us we will draft your reply without any fees... bhai apka koi lena dena nhi proper reply dena hoga or sab kuch share krna hoga mujse..
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Advocate Ankush Chaudhary

Adv. Ankush Chaudhary

LawRatoDelhi | 200+ Answers
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