Request for advice on Balance Payment of Home loan
20-Oct-2023 (In Recovery Law)
Iam a catholic living with my 16 yr old son in flat purchased by my husband on loan, he had made me sign as guarantor along with 2 other guarantors. We are having marital issues and he left last year August without informing about his whereabouts and is not contactable to us or the Bank and has not been paying the instalments. The bank has issued me 15 days notice to pay the balance loan due or vacate the flat on 9th Oct . I have been taking care of me & my son with a small job of 15000/- Salary. Now because of COVID only 50% salary. What should I do?
You can approach to competent and concerned Court, and can try to take stay order against the said notice served to you.
You need to file a securitization application before debt recovery tribunal for stay and thereafter u might get breathing time to search for the borrower and fight case.
You need to file a securitization application before debt recovery tribunal for stay and thereafter u might get breathing time to search for the borrower and fight case.
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.
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