Personal loan
satish
(Querist) 11 November 2010
This query is : Resolved
I have a personal loan running with an mnc bank. i made
payments of emi for the first 18 months without fail but
after that i failed due to loss of job and financial
crisis.the loan is 4 yrs old, emi is stopped from last
2.5 yrs.Since this loan is not a secured one
1)My query is that is the bank people can take a
attachment through court of my joint property ( jointly
owned myself and my mother)
2) What is time limit for claiming recovery and for legal
procedings for recovery
With Regards
Satish
R.Ramachandran
(Expert) 11 November 2010
Limitation would be three years from the date of last payment of emi.
aman kumar
(Expert) 11 November 2010
What is your surety for that loan ?? that property? plz ..
Chanchal Nag Chowdhury
(Expert) 11 November 2010
1.NO attachment can be made in respect of co-owner's portion.
2. 3years from date of last EMI.
satish
(Querist) 11 November 2010
to aman kumar I am not given any security for that loan
satish
(Querist) 11 November 2010
My self and my mother jointly hold a house i have taken a personal loan (not given any security for that loan)
my query is that is bank people can tkae a attchment through court agaisnst jointly holding property or not whether my portion or my mother portion.
satish
(Querist) 11 November 2010
HOW TO CHECK WHETHER BANK PEOPLE FILED ANY CASE AGAINST ME OR NOT BECAUSE WHILE TAKING LOAN MY RESI ADDRESS WAS HYDERABAD
NOW I SHIFTED TO BANGALORE PERMAMENT ADDRESS BUT I AM NOT RECEIVED ANY NOTICE
PLEASE REPLY ASAP
Sri Vijayan.A
(Expert) 12 November 2010
Property can be attached.
It has been dealt in detail by experts in other FOUR questions of Mr.Satish
Khaleel Ahmed Mohammed
(Expert) 17 November 2010
You can check with your bank, you should inform the bank about your new address.
Parthasarathi Loganathan
(Expert) 17 November 2010
Mr.Satish, your same query has already been dealt in detail and replied. I reiterate that if you have an apprehension about attachment of security, why don't you apprise the bank about your genuine difficulties and get your pay plan rescheduled. You must disclose your primary intention to repay the debts to bank rather than worrying about recovery actions.
