664+ Lawyers are online 
My father received a loan from sBi after death due to ill health
24-Mar-2023 (In Recovery Law)
Iam his son Iam received a job from my fathers death on Compassionate grounds
The bankers pressure on me For the loan Iam the responsible or not for th loan
you are responsible for your father debts, which is similar to acquired inheritance of properties. your father loan documents need to be checked. if he has any insurance on this debt, that can helps you.
you have to collect your father loan documents
how much money you can pay in EMI?
which bank?
you have to collect your father loan documents
how much money you can pay in EMI?
which bank?
Helpful?
21+
21+
Adv. Pavan Kumar Gudipati
Hyderabad | 25+ Answers
CONTACT NOW
Can loan be recovered from legal heirs?
If the loan is secured
After the death of the borrower, the lender will approach the legal heir in order to recover the amount owed. The lender may auction the pledged asset if the legal heir does not repay the outstanding amount. 7 Sept 2023
What happens to loans when a borrower dies?
The lender cant demand repayments from the borrower’s family if the borrower dies. In this case, the lender is likely to take the loss and write the loan off as a NPA (non performing asset). Remember that this is for a personal loan instant without security or collateral. 31 Aug 2023
How can the loan be recovered after death of principal borrower?
How can lenders recover personal loans after the death of a borrowers? The legal heirs of the deceased are liable for repayment of the loan to the lender to the extent that they receive the Estate of the deceased.
What happens when primary borrower dies?
The mortgage continues to exist after the borrower's death, but, unless there is either a cosigner or a spouse who survives, no heirs of the deceased are responsible for the mortgage. 14 Nov 2023
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 Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Recovery lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
