Need Help... (MIS-Executive) 17 January 2014
Dear Experts....
My Uncle Friend Got some loan arround 2 lacs for her son's Education from some sahakari Bank...
and My Uncle and one more person is witness for this procedure.
Now problem is Loan Holder person not paying EMI Last 6 months.. and he is shifted to Goa.. My Uncle have contact detail of that person. Now Bank conatcting my uncle and that one more person and telling them to pay EMI other than the deduct from salary ..
So please help me or my uncle what we will do...
anitha Gutti (Advocate) 17 January 2014
Clarify whether your uncle and that other person given surety to the borrower. If your uncle and other person stood as surety under loan agreement, the bank entitled to demand sureties for repayment of loan. Hence clarify what is your uncle's position pertaining to the loan agreement of borrower with bank.
Need Help... (MIS-Executive) 20 January 2014
Yes they both ahd sureties given .. No my uncle not position to repayment of loan borrowed by his friend.
Please suggest
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