I need Your Help regarding Educational Loan from one reputated bank (private) Actually I bought education loan from that bank (2007-2011) amount of Rs 2,14,000/- from Banglore after finished my degree i wont get good job also but my family paid the interest amount that year later (in 2012) i got a job one private sector with low income but i tried to paid little amount from my low income along with bank permission in feb-2013 suddenly i was affected by typoid and admitted in hospital more than 10 days so that month my salary was dedcuted from my office so i paid Rs-1000/- to bank .after three days that banker called me and scolded very bad words about me and my family from this incident onwards i didnot paid any single amount.
Last year dec-16 i got a call from recovery manager he told me to repay the loan amount for one time settlement Rs-1,50,000/- (but i already repaid the amount Rs,1,30,000/- till feb-13 and congress govrenm gave waiver for Rs-60,000 dis is informed by that manager) that time my father got accident in leg and his legament was tored so he was admitted in hospital so i cant able to pay amount as banker mentioned amount but i requested to banker i willing to repay amount Rs-70,000 because my family situation is very bad now but that recovery manager denied my request ,then jan-17 i got a call from same recovery manager if you are not paid the amount i ll lose ur job and file a case against in court spoil ur career also and i polietly told him sir i 'm getting low income only if you want verify with my HR also and he cut the cal.
in this year Feb-17 local branch manager came to my office and told me i ll speak with my Head office try to waive your loan so please sign this paper (Empty Acknowledgement of liability with one request letter of waving loan) but i refused to sign that paper he threatened if you are not signed right now this is your last working day and you wont get job any where due to may family situation i signed those papers two months (25th apr-17) later that recovery manger (Banglore) filed a case on my entire family (because my father and sister are my grauntor) i spoke with local branch and recovery manager they are telling till the date your loan amount is Rs-4,50,000 if your are ready one time settlement (Rs 2,60,000 + 25,000(case filing fees)) but i dont have any source( i can able Rs 60, 000 upto 1 lakh with the help of friends) to pay that much amount that local branch manager ( filled the empty acknowledge form with back dated) used that acknowledge form against me
i verifed with some local advocates they told me if you not paid the loan amount more than 3 years that amount has been recovered from insurance you dont have to pay the amount due to your siganture of that paper you have to pay the amount.
i came from poor background family so i came here to ask your help regards this issue i had some doubts
1)if there is a rule for 3 years not paid amount no need pay the loan so what is the act number?
2)how to get out from this problem?
3)the local branch manager s cheated me with empty form signature is it i can file a case against on him?