personal loan

raju (Querist) 18 July 2011 This query is : Resolved
sir/madam this is raju from hyd...my father was a govt employee.who took a loan amount of 1.3 lakhs from canara bank in 2004..payment for the last installment iz 31 july 2007...and he retired from the service on 31 st july 2007.after he died in 2008 without paying the loan..and his subordinate given the witness for the loan we hve been getting the notices for the past 3 months regards to attend the court..in that notice they are not mentioned how much money has to be recovered....do they give any attachment to my mom pension?can u tell me wt z the exact peroid of time to pay d personal loan?after how many years they put d personal loan as bad debit...we r just living on d pension amount and we dont hve any assets &income sources....wt do u suggest me ? im not gtng a clear reply explain in clear

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M.Sheik Mohammed Ali (Expert) 18 July 2011
you send the legal notice to the bank and ask balance amount of loan to be paid, how long to pay , if not they reply then file a case against the bank

RAJU O.F., (Expert) 19 July 2011
If you had received Notice from the court first approach the said court and find out what is the case against you. Get the copy of plaint, engage a good advocate practicing in that court and defend your case. If not the bank will get an ex-parte Order against, which will be executed against the assets of your father.

Guest (Expert) 20 July 2011
Unless the agreement between the Bank and your father binds his successors for payment liability, the amount of loan cannot be recovered from the family pension of your mother. Whosoever of your family member is getting summons from the court can get copy of the plaint to know the claim preferred by the Bank, which you can contest. You may also ask for production of the copy of agreement between the bank and your father to know whether there is any binding for the heirs also to pay the dues after the death of your father.

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