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Ajay Singh (IT)     21 September 2012

Need help on education loan

Hi All

I am a professional in the field of IT, I am in a confusion, actually my wife has taken an education loan in year 2003 when she was a student , negligible amount of repayment was done and BAnk has Filed a case in court. Father of my wife is guaranter in the loan. Now I want  to know that as now she is married with me so how much I and she is credible for that loan and the case of loan, Very less number of hearings has been attended in the court.

Any  advise will be very much appreciated.


 4 Replies

Prasun Chandra Das (Banker)     21 September 2012

You are not liable to pay anything. The onus of repayment is on the borrower and the guarantor. It is best to pay off the entire loan. The bank is not bothered about who pays the amount - they are interested in only receiving the payment. My advice: Pls arrange to pay off the outstanding and ask the Bank to withdraw the case, because it will be almost impossible for your wife or father in law to get any loan in future, since their names will appear in CIBIL list as defaulters.

sumit123   04 September 2016

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maneesh   19 September 2016

Banks money is public money and it has to be repaid.Eventhough the loan has been taken by your wife and father in law; now she is your wife.If she is working she can easily make the payment na.If after taking such loan and studying you have not allowed her to work ; its simple you have to pay...Please think....the banker will be having separate wings for looking after the cases.How much time you will have to spend for the case,court etc.Finally the verdict will be against her.The punishment will make what effect on you and your kids.....After all in a civilised society we should have the habit of repaying our debt na... That only will make you a gentleman

Ms.Usha Kapoor (CEO)     01 October 2016

If you'd allowed her to c ontinue her job by this time loan would have been completely paid off. Be progressive minded. If you appreciate this  answer please click the thnak you button on this forum.

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