Education loan
Querist :
Anonymous
(Querist) 27 April 2018
This query is : Resolved
Respected Members of Club,
My brother had taken a education loan from PNB in 2010 , he died (quitted) , after 8 years the bank is now keep asking for the settlement , but there are 3 elder sisters of mine who are ready for marraige , my father has a job but can't afford the current condition of my house with this loan , is there anything we can do to avoid paying the loan . there is another thing that whenever we ask about the current interest , current condition of loan account and the balance sheet of the loan account , , they try to avoid it and keep asking to first meet them , plzzzz , help me ??????
Ms.Usha Kapoor
(Expert) 27 April 2018
If bank agrees for a compromise both you and the bank approach LOK Adalat which is attached to every district court which settles your repayment of debt to the bank in a jiffy on give and take basis. It is cost effective and saves on time. The decree of Lok ADALAT IS EQUIVALENT TO A CIVIL COURT DECREE AND FINAL AND CONCLUSIVE FROM WHICH NO FURTHER APPEAL LIES AND BINDING ON THE PARTIES.
Dr J C Vashista
(Expert) 28 April 2018
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No reply for an anonymous author.
Sudhir Kumar, Advocate
(Expert) 28 April 2018
" is there anything we can do to avoid paying the loan "
NO
interest will keep swelling each day.
bank is offering settlement and you do not want settlement and you will be perhaps forcing bank to recover entire amount.
