i AM unmarried woman has no parents my siblings leaves in others states with there respective spouse away from me i have taken personal loan and cc dues which I am paying it religiously from my salary the premium as E M I decided by the respective bank from where taken loan and issued the CCGOD FORBID if i die SUDDENLY tomorrow WHO WILL BE RESPONSIBLE FOR REPAY THE LOAN I STAY ALONE NO PROPERTY I HAVE ON MY NAME I DEPEND ON MY SERVICE AND Live ON MY OWN with some as paying guest thus i done have my own house
bank will loose money if you die without giving any security, so you are saying if you dies it is an act of god, so they have to file suit against god for recovery of money. The bank manager is very soft nature against you for executing the loan. He would have given loan within his limits without taking any security, it mean that if you are not paying money to bank he is ready to show loss to bank on your transcation.
I am regularly paying back the loan amount given by bank as unsecured personal loan if I am nor wrong they never asked for any guarantor for said loan its my salary account they have given loan on the basis of my last repayment record as well as credit card amount too paying back as per my capacity I just don’t want that since these amount have never utilized by any of my family members neither they are aware about such loan they should not be harassed after my sudden demise
the bank manager granted loan on your track record and conduct of you, so you dont worry nothing will happen to you, you carry on with your work, take the life in positive manner. If you are not paying loan on your sudden death, if there is no guarantee by you, they will roundoff the loan. you no need to worry on this issue.
I don’t want my family will be harassed or dragged for such reason where the were neither informed nor was involved
Also would like to know that is there any process my family needs to follow after my death while they will be intimated about such loan . Till date I never disclosed about the Personal loan or cc dues with my family it smy responsibility. I am fulfilling it at my end
actually one of ex colleague die due to road accident i saw goons coming behalf of bank and harrasing his familyfor such unsecured loan while famlily were not aware about what should his family do at present ,he dse not have any such property or bank balance avialble with his family he is not married too ,he too was paying his dues regularly this incident made me anxious by seeing his family getting such harrased by goons of the bank i thought about my consiquences please guide through or what my familys stand will be at that juncture my sibklings i have no parents