k krishna 28 January 2016

Regarding personal loan

Dear Sir,

My father took a personal loan of 500000/- from HDFC Bank.The bank has made insurance on loan.But due to critical illness My Father passed away.Now the insurance company rejected the loan to get waive off.Now from past two months of my father passed away I paid regular EMI'S .Now I am unable to do pay EMI as I am Jobless & No earning in my home.How can I deal with the bank or I have to put a case on insurance comany or I have to pay EMI to the bank while putting a case on Insurance Company.

Kindly do the needful.

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2 Replies

Mayur shikhare 29 January 2016

Please first let me know how you have come into the picture, it was your fathers personal loan, were you the gurantor?

secondly please issue a notice to the insurance company that they have defaulted on the terms of insurance if they do not listen then go ahead and file a consumer case agaisnt the insurance company you can also lodge complaint against the insurance company to ombudsman

m.kameswaran (student) 29 January 2016

it a legal debt . so as a legal heir u r liable for such debt . already u have paid two EMI's. if u not pay ,HDFC will attach ur father 's property( any of ur father'sproperty document will be in HDFC). and no necessity for insurance company to waive it.