LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Natarajan P   12 June 2017

Regarding personal loan verification

Hi Sir/Madam, I did personal loan verification for one of my collegue, its been asked you are friend or brother of the person, do u have own house for the personal loan applied by my collegue etc. Now we have no touch, i got a call from bank saying ur friend has not paid the loan. so they keep on torchering by calling say you have to pay the loan. Is that i need to pay his loan since he is not traceable ? or this bank is trying to threat me. Please let me know how can to handle legally or i dont want to worry about them. I didnt signed any form etc. Need your valuable suggestion. Regards, Natarajan P



Learning

 4 Replies

Ms.Usha Kapoor (CEO)     13 June 2017

Sinxce you didn't sign as  a surity you need not panic. No need to pay your friends bank's personal loan.

G.L.N. Prasad (Retired employee.)     13 June 2017

Get a legal notice issued to the concerned Branch Manager in person, mentining the Date, time calls received and the name of the caller and warn him that you are not concerned with sanction/disbursement of the loan in any way, and the verification was made to the identity of borrower alone.  Warn him that any further calls of harassment has to be reported to police and to other forums for remedy.

These are some pressure tactics to find out whereabouts of the borrowers and there is nothing to fear, except those calls cause disturbance.

Dr J C Vashista (Advocate)     13 June 2017

Are you guarentor of your friends personal loan? If so, you cannot escape, it is your liability as well.

Otherwise report the matter to local police.

But look before you leap.

Azhagananth (Lawyer)     14 June 2017

"I did personal loan verification for one of my collegue" - By what mode - written or oral

 

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  



Post a Suggestion for LCI Team
Post a Legal Query