How to handle/avoid case against me for education loan?
5 years ago
Hi Sir/Madam,
My name is Sriram from Vellore (Tamil Nadu). I got education loan for my engineering degree (2008-12) but could not able to repay entirely. I could not get a job for an year and the job wasn't paying me enough to handle my own expenses. And my mom got cancer and entire money went for that. and I paid 1.25 L and rest am paying month on month (15,000 per month). Am ready to pay 15000 every month but they filed a case against me and asking me to pay 1.5L now but I don't have any jewels or property to sell and pay them. I tried but could not get bulk money. The bank is not accepting my request. If they arrest me, my entire career and life will get spoiled. Kindly provide me suggestions that how can I handle the situation?
Thanks in advance,
Sriram K
ARPIT BATRA
Responded 5 years ago
ROBERT D ROZARIO
Responded 5 years ago
There are several circulars from bank as well as from State and Central Government wherein repayment educational loans is either waived of or given facility of installments without interest. Please consult any experienced advocate.
Deepak Yashwantrao Bade
Responded 5 years ago
Your question is not very clear.Whether it is a Nationalised Bank or Private Bank. Nationalised Banks work under certain principles and guidelines and are the same all over India.Before giving the exact answer one need to see how much you have taken,how much you have paid,duration, interest accrued to the principal amount etc.There is also a possibility to sort it out either through installment basis or one time settlement basis. Better engage a Lawyer who are normally the retainers for the banks. Shanti Ranjan Behera,Advocate
sistla ramakrishna
Responded 5 years ago
Namitabh Kothari
Responded 5 years ago
The Judge will grant you time to replay the loan.