Education loan

rajendra battha (Querist) 13 October 2013 This query is : Resolved
Dear sir,
i had taken loan education loan on 2005. i have sign all docs for education loan but bank did my laon personal loan. rs. 50000/- they have given in my bank a/c and other they have give DD in favour of college. after that 2007 i have statrted paying loan and i have paid rs. 1.55 lac. till dec. 2010 i have paid but now i am not able to pay. and bank has given notice for rs 3.00 lac recovery. what should i have to do. plz advice me.

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ajay sethi (Expert) 13 October 2013
ask bank to reschedule the loan reduce the installments as you are unable to make payment . if you dont pay bank will file recovery suit against you .

Sudhir Kumar, Advocate (Expert) 13 October 2013
not a legal query.

Rajendra K Goyal (Expert) 13 October 2013
You can request the Bank to settle the amount by lump sum payment or rescheduling of the loan.

R.K Nanda (Expert) 13 October 2013
request the Bank to settle the amount by paying in smaller installments.

Sarvesh Kumar Sharma Advocate (Expert) 14 October 2013
Contact with bank manager .

Raj Kumar Makkad (Expert) 15 October 2013
There is no legal issue in the given query.

V R SHROFF (Expert) 15 October 2013
settle the amt with bank ..

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