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Shri Krishna (Querist) 10 October 2015 This query is : Resolved
A person has taken a personal loan from bank and after paying few instalments, person was not able to pay the remaining instalments due to heavy loss in her other transaction. Person is currently jobless due to sickness. Bank filed a suit for recovery of debt and obtained a decree of movable attachment. The person is not doing any job and residing in parents house and depending on parents. The house where person is residing is on her parents name. All the belongings in the house belongs to her parents. Can court attach movable property of her parents as she is residing in parents house. This is the same address which is mentioned in bank records. What are the alternatives in case if person wants to repay the loan in instalments. Can a person ask for time from the court that loan can be repayed in instalments after getting a job.

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Guest (Expert) 10 October 2015
Dear Shri Krishna,

What is your concern with this academic type of problem?

prabhakar singh (Expert) 10 October 2015
Her parents may resist the execution attachment if that is so.

A Court on its'own can not make provision of realisation by installments unless Decree Holder Bank and lady J.D. enter into a compromise to the same effect.

Shri Krishna (Querist) 10 October 2015
Thanks for your reply. Please let me know if the lady is not in a position to repay the loan as she does not have any source of income and decree of attachment is issued then what is the remedy for the same. What other alternative is available to the lady. Please suggest.

SAINATH DEVALLA (Expert) 11 October 2015
Are U the defaulter or acting as a proxy?

Rajendra K Goyal (Expert) 11 October 2015
Payment to Bank is alternative available with the lady. If attachment proceedings are for parents house, they should oppose the same.

SAINATH DEVALLA (Expert) 11 October 2015
Mere giving her parents address as residential address does not give rights to the bank to proceed on the property belonging to the parents.Can be opposed.

P. Venu (Expert) 11 October 2015
What is the guarantee given for the loan?

Shri Krishna (Querist) 14 October 2015
It is a personal loan, so no guarantee has given. She has submitted the application in the court stating she is job less and has no source of income and also she does not possess any movable or immovable property. The matter has been kept for mediation on the next date. Just want to know what will happen if mediation fails. what could be the order?

P. Venu (Expert) 14 October 2015
Personal loan! On what basis?

SAINATH DEVALLA (Expert) 14 October 2015
The query itself is not clear,I feel it is not existent,only for the sake of academic knowledge. The author is taking the legal experts for a ride.

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