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How to deal with complications in education loan


26-May-2023 (In Recovery Law)
We are from poor family and a 3. Sisters and a brother. We 3 girls studied through maternal grand father help. To my brother we made to study b.tech through education loan from other state (Karnataka) through influence. After marriage we shifted from TN to various places i.e girls. My bro ther finished his b.tech and was found jobless for 1 year i.e 2010. Through in-law issues & other family. Issues ,kids born we girls didn't go for job after marriage. My brother initial salary was 8000 to reach 18000 in 2017. He took loan amount of 2.25 as principle, we as a whole paid 1.20 lk and 70,000 discount from central government. My brother was sole breadwinner of the family,my parents were 78 &60, their treatment engulfed his most of the earnings. He paid his last loan interest in 2012. Because of all these he planned to pay one shot,the bank abused him and put 24% compound interest , he was having conversations with bank in Feb 2017,but bank manager came and investigate his salary, got liab
Answers (1)

Answer #1
995 votes
He can file a case in the debt recovery tribunal for the said harassment by the bank regarding the repayment, the debt recovery tribunal however, will grant him concession regarding the repayment or default in payment of debts of loan.

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