Personal loan defaultation

Hi Rohit,

If the bank accept for 2 Laks as we negotiated its every thing goes smooth.....

If they reject to accept,what kind of case this wil become.. ?? Can we have bail if in case bank wants my frnd to be jailed ?? or Its better to apply for anticipatory bail in advacne ??

THanks in advance.

Don't worry,tell your friend ,these cases r treated under the civil law,your friend becomes a willful defaulter.response the case in the court filed by the bank against your friend. & present your side in the court very confidently with a strong lawyer.these case will take a long time in the court.Due this you got a time to store a money for one time settlement.

In these cases,settlement is the final positive option for your friend,otherwise bank will attach your property if you not win the case. and the guarantor is also reponsible to pay the money to bank.

If you want to deal with the harsh behaviour of recovery agent.Do video recording of their misbehaviour & if they r giving you threat. and you can file a case against the recovery agent.Don't deal with recovery agents, deal only with the employee of banks ,such a legal manager etc.

time and again apex court had held that banks should follow proper procedure in collecting dues,undue method will not be accepted. ask ur friend to be brave, if they go beyond a limit file a bare suit against the bank in civil court  of your friend jurisdiction,then bank will come to terms and then things will start settling down.

Hello,

My previous Officer (Finance) get the Personal Loan from the Central Bank of Rs 4 lakhs after 1 month of loan he has to  leave the office because of unfavourable activity in the organisation. Central Bank he not pay any installment and Bank Manager say he pay loan in lump sum payament within two month now five month is over he not pay any installment  and amount, now loan is NPA Bank start taking action but that person address is also not correct. My organistion file case aganist him at present he is in jail but Bank manager not know about the case.

My friend is a guarantor of loan, Officer force him to give guarntee and show the power of his post that time.

Bank Manger start taken step and daily bank manager call my friend, even he not bother to take step to collect the amount from borrower. 

As a guarantor want my friend have to do because future liabiliy come to him only. 

Please give suggestion urgently.

Thanking you

guarantor is equally liable,bank can proceed against guarantor also,find out the borrower and try to negotiate with the bank and come to a conclusion.

Sir,

Can guarantor  file the Police compliant aganist the Borrower and the Bnak Manager.

Thank you

no way, even u complaint to the police station they will defer it saying it is a civil case. better go for court case if u find it very difficult to handle the pressure.

SIR PLS MUJHE LIMITION ACT KE BARE MEIN BATAO ...........KYA BANK LAST TRANJECTION STOP HONE KE 5 YEAR BAD CIVIL SUIT DAL SKTA HAI

yes bank can file case even after 5 years of transcations, in DRT for recovery of money

SIR PLS MUJHE LIMITION ACT KE BARE MEIN BATAO ...........FAVOR OF BRROWER

yes guarantor is equally responsible to repay the loan.settlement of the loan with the bank is an only positive sol for this case

the Guarantor is also responsible to pay the amount of loan to bank and if the behaviour of manager & recovery agent is harsh,so you can file a criminal suit against them,but you need to prove the facts in the courts.