Harassed by bank for recovery asking huge amount after payment of EMI

i have been harassed by some one who claimed as bank manager of barclays bank, which closed long back in bangalore, from where my daughter has taken personnel loan(48months) 36 months emi paid. Since my daughter left city after her marriage i tried to continue and pay but the bank found closed without giving notice/intimation to the customers or public in the news papers. After the laps of 4 years suddenly appeared, and asked pay130000/- The huge amount which he claims cannot be paid, as i am a senior citizen 70 years getting old age.I wanted to pay monthly installments. But where to whom?

Answers (3)

62 votes

that not your concern in that you don't want to pay anything to anyone because you are regular in paying your EMI and its very intense that the person call you ask for money get his ID that he manager or not of that bank after that you can also do ask him where i have to paid all this amount, take all the detail about the Amount and ask where you are for last four year when you are paying your loan.

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338 votes

As the loan was in your daughters name, no one can claim the same from you. Secondly, these calls are generally made by recovery agents who tend to pressurize customers for settlement. You can record the conversation next time they call and tell them to send you the details of such amount by post or email.
Additionally, collect copies of the loan schedule, all emi receipts paid by you (or bank statement in case it was ECS) and any further communication you sent to bank after it was found closed. Contact the customer care of barclays directly and narrate the events. You can offer for settlement also.
However, it is advisable that you engage a lawyer who would be able to get the matter sorted along with maintaining your daughters cibil ratings and getting a no dues certificate from the bank.

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169 votes

Unless you have co-signed the loan document there is no liability upon you to pay the said amounts. However, you should in any event ask the person who is getting in touch with you to send you a written demand notice with the amounts due and the interest charged thereon. Once you have it on paper you could approach the bank officials to work out an alternate form of payment to be broken into installments.

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 Recovery Lawyers at LawRato.com to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at LawRato.com or contact a Lawyer of your choice to address your query in detail.

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