loan
Sunil Salunkhe
(Querist) 22 March 2014
This query is : Resolved
Dear sir
My brother took loan in 2005. But he not paid it. Recovery officer started to trouble my parents. So my parents repaid d loan
Same things happened 3-4 times .my brother takes loan & parents repays.
Every time his 2 friends were guarantor
Now again in 2010 he took loan. My father ignored. But patpedhi sent notice at my village address I.e. my native place. They sent notice that they r going to seize ancenstor land
Request you to pls advice on below
1) how I intimate to all that my family will not b responsible if you give loan to my brother. And don't give loan to him in future
2) this time also whether I need to pay loan?
3) any suggestion for future
PLS SHARE CONTACT DETAILS
DO D NEEFFUL . ITS URGENT
Tnx in advance
prabhakar singh
(Expert) 22 March 2014
What is harm in doing what has been consistently done without duty?
Only debtor or his personal property or his joint share in joint property is liable to pay debtor's loan.
Not his parents or brothers or sisters or son or daughters or any body else of the world is liable to pay.
Devajyoti Barman
(Expert) 22 March 2014
Yes no once except him will be liable for repayment.
malipeddi jaggarao
(Expert) 22 March 2014
Banks and financial institutions will send notices to parents, children and everybody so that somebody will repay the loan. But as the experts rightly advised, there is no obligation on the part of others unless the property is given as mortgage. Best thing is to ignore such notices. If they personally harass, your parents should tell that they are neither guarantors nor their properties were mortgaged with the bank and they are not liable to pay the loans given to their son. Even the son has share in the property, unless the bank gets a decree from the court, they cannot touch such property.
Rajendra K Goyal
(Expert) 22 March 2014
Refuse in plain words to repay a loan which they have not taken or for which they are not a guarantor as they are not liable for that. If any call or notice received lodge complaint to RBI and to local police.
Kumar Doab
(Expert) 22 March 2014
He is a bad sheep and the parents may agree to disinherit/disown him.
Ask the lender to approach the Guarantors and if they do next time they may not sign as guarantors.
T. Kalaiselvan, Advocate
(Expert) 24 March 2014
The bankers cannot stake claim in the entire ancestral property and also if the property is undivided, the undivided share of the property alone can be claimed by the bankers against repayment of defaulted loan and the interest thereon. Nobody has any right on anyone's property without any legal stand for claiming it.
Sunil Salunkhe
(Querist) 27 March 2014
Thanks to all of u
We have received notice u/s 101 of Maharashtra co operative society act 1960 from deputy registrar co operative society. In notice they ordered patpedhi to take any action to recover debt. Accordingly patpedhi sent letter to collector office to claim on ancestral land
Now what I do
