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pat sastha loan
2 months ago
My uncle has taken a loan of 25 lakh by securing the land from pat sastha in 2012. Till date he had paid 57 lakhs. He is expired before 2 years. Now pat sastha is asking the dependents to pay 45 lakh otherwise they will auction the property.
A.You required to find out the welcome letter for 25 lacs in the year 2012 and whether the EMI were paid regular or not you have not mentioned. accordingly see to the bank statement of your uncle as per my knowledge past 10 years the loan must have also been completed or even see if there is other LOAN INSURANCE for the same, so said amount can be taken from the insurance company. you can ask for the payment made by your uncle, give us more details to know better
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A.Dear Client,
The legal heirs of a deceased borrower are equally responsible for settling the financial obligations of the deceased property owner. The lender has requested the unpaid loan amount from the legal heirs. When loan repayment ceases, the lender takes customary steps to recover the debt, classifying it as a bad loan/NPA under the SARFAESI Act. This includes initiating actions such as attaching secured assets as directed by the Debt Recovery Tribunal. However, borrowers can explore options like negotiating a lower interest rate, restructuring repayment plans, extending the loan tenure, seeking debt forgiveness, considering loan consolidation, or proposing a one-time settlement payment to address their outstanding dues.
The legal heirs of a deceased borrower are equally responsible for settling the financial obligations of the deceased property owner. The lender has requested the unpaid loan amount from the legal heirs. When loan repayment ceases, the lender takes customary steps to recover the debt, classifying it as a bad loan/NPA under the SARFAESI Act. This includes initiating actions such as attaching secured assets as directed by the Debt Recovery Tribunal. However, borrowers can explore options like negotiating a lower interest rate, restructuring repayment plans, extending the loan tenure, seeking debt forgiveness, considering loan consolidation, or proposing a one-time settlement payment to address their outstanding dues.
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A.Dear Client,
The legal heirs who are likely to inherit the property of the deceased Borrower are equally liable to meet the financial liabilities of the deceased owner of the property. Accordingly, the lender has demanded the payment of the unpaid amount of the loan from the legal heirs of the deceased borrower. Once the repayment of a loan stops the lender initiates a routine course of action for recovery of the loan from the borrower marking the loan/debt as a bad loan/NPA for recovery of debt from the borrower following the provision under the SARFAESI Act and the order of Debt Recovery Tribunal directing attachment of secured assets of the borrower. . However, you may negotiate or settle your dues against loans by following the steps like lowering your interest rate, arranging for a reduced interest rate is one of the most common requests a defaulter borrower can make to the Bank, creating or restructuring a repayment plan or extending the tenure of repayment of a loan, looking for debt forgiveness. considering loan consolidation, offering a one-time settlement payment. Further, a quick counseling session with a certified credit counselor can help you to discover your options and choose the right path to resolve or settle the matter.
The legal heirs who are likely to inherit the property of the deceased Borrower are equally liable to meet the financial liabilities of the deceased owner of the property. Accordingly, the lender has demanded the payment of the unpaid amount of the loan from the legal heirs of the deceased borrower. Once the repayment of a loan stops the lender initiates a routine course of action for recovery of the loan from the borrower marking the loan/debt as a bad loan/NPA for recovery of debt from the borrower following the provision under the SARFAESI Act and the order of Debt Recovery Tribunal directing attachment of secured assets of the borrower. . However, you may negotiate or settle your dues against loans by following the steps like lowering your interest rate, arranging for a reduced interest rate is one of the most common requests a defaulter borrower can make to the Bank, creating or restructuring a repayment plan or extending the tenure of repayment of a loan, looking for debt forgiveness. considering loan consolidation, offering a one-time settlement payment. Further, a quick counseling session with a certified credit counselor can help you to discover your options and choose the right path to resolve or settle the matter.
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