Regaridng recovery of houshing loan
shammi sharma
(Querist) 07 August 2015
This query is : Resolved
dear sir i have taken a housing loan from obc in yr. 2004 rs 500, 000 in the name of father and elder brother ...instaalment paid upto 2008. bank in 2009 taken a balance confirmation letter for outstanding again rs 500,000 beocz of interest and fill a case without our knownlegde.... in 2012 court pass a exparty decree ...... now in aug. we received summnon in the name of father from lok adalat for settellment of loan ..... but i have not any paying capacity ....valid reason is that loan is in the name of father ...who have a paralysis attack ..from last 6 yr. .... so i want some more time say two/three yr for such a settellment ...... pls suggest me whether we can take 2/3 yers time from lok adalat for settellment.... or any other remidies available to me ....at that time .....
P. Venu
(Expert) 08 August 2015
Any how, you attend the adalat and try your best.
Rajendra K Goyal
(Expert) 08 August 2015
May settle to pay without interest original amount in 3 years. Try to dispose off the house and pay the outstanding. Bank charges must have mounted till date. You can negotiate in Lok Adalat that if bank permit to dispose off the house you would be able to pay without interest.
shammi sharma
(Querist) 08 August 2015
thank sir for your vauable opinion.....today ..... recently i have aatended the lok adalat ..... and after hearing all my situation ..... they grant me 1.5 year more becoz of valid reason..... thanks sir again and more thanks to god who make the decision in my favour ......
shammi sharma
(Querist) 13 August 2015
Hello rajendra sir ......as u know i have got 1.5 yr more from lok adalat......now i want to know how i can settle this loan wihout interest......under which section i can force to bank to settle my loan without interest within three year as advised by you ...... i m trying to arranging money from some relative/frds ..... but full amt. 5/6 lakh will not be arranged..... also i does not want to sell the house....becoz we have only one house..... Pls suggest me under which section i can force to settle without interest..... and also advise me whether i can let out the house to younger bro. and tenant fight the case on ground of tenancy..... bank cannot take immidiate possession of house from tenant..... pls give me valuable advise.... on full settlement option and also on tenancy option .....
shammi sharma
(Querist) 24 August 2015
Hello rajendra sir ......as u know i have got 1.5 yr more from lok adalat......now i want to know how i can settle this loan wihout interest......under which section i can force to bank to settle my loan without interest within three year as advised by you ...... i m trying to arranging money from some relative/frds ..... but full amt. 5/6 lakh will not be arranged..... also i does not want to sell the house....becoz we have only one house..... Pls suggest me under which section i can force to settle without interest..... and also advise me whether i can let out the house to younger bro. and tenant fight the case on ground of tenancy..... bank cannot take immidiate possession of house from tenant..... pls give me valuable advise.... on full settlement option and also on tenancy option .....
