In the Year 2005 i have taken education loan of some of amount 2 lakhs which i am unable to pay regularly.
Apart from that my father had a bussiness CC account in the same bank where we used to have random transcation.After sl*g in the business we were unable to return money as on timely basis.
At the moment i am paying 5000/- rs infront of busseness CC loan.This is only helping me to return the interest on principal amount. I am unable to pay any thing in exchange of my education loan due to my financial condition.I am paying this 5000/- rs since last 2 years but i am spending the money from my pocket but the priciple amount still remain the same.
My father is retired and i am only the earning source in my family.I am ready to clear up the amount but i wish that bank should provide me certain settelmemt scheme.My house is also kept as mortgae against the bussiness CC loan(The valuation of my house is much higher than the loan i have taken).
My father is scared as the collection guys are threatning to spoil the integrity of my shop in the market.
Please guide me how to go by legal process to get out of this harrasment and burden of loan.