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How to delay repayment of loan
10-Jun-2023 (In Recovery Law)
My husband took bank OD facility for his proprietorship firm My husband & I were the Guarantor He died 2yrs back and the company is closed Since 2yrs I have stopped paying intrest to bank I received possession notice for my house which has a collateral U/S 13(4) sarfaesi act in August 2016. In May 17 bank visited my house to tell I will get a legal notice soon if i dont pay the due. I dont have the money rigth now to pay the loan. I dont have many were to go of bank take the house What are my options?
Whenever any loan is secured by any assets and/or by personal guarantee/co-obligation, the lender has got right to recover the dues by proceeding against all of them.
Post referring your documents and notices received proper advice can be given.
Expert Jurist LLP.
Post referring your documents and notices received proper advice can be given.
Expert Jurist LLP.
Helpful?
10+
10+
Adv. JV Bhosale
Mumbai | 400+ Answers
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Please pay all the dues immediately to avoid the bank taking possession of your property. Under SARFASI act the bank is empowered to take possession and sell the property. Please don't waste time and pay up dues
Helpful?
25+
25+
Adv. TSD Srinivas
Visakhapatnam | 25+ Answers
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