Education Loan
5 years ago
My son had taken education loan of 7.5 lacs for his education in the United Kingdom. He completed his studies but had to come to India as his visa was not renewed. He did not get a suitable job and had to start working for call centre where he was drawing only 20000/-. Uptill the time I was warking, I paid his instalments of Rs.21000/- per month for about 2 years. Thereafter due to financial loss in business, I could not continue paying.
At the time of taking loan, he was 17 years 8 months (minor) and has not signed any of Bank agreements. I had signed as guardian. Is he liable along with me? Bank has filed recovery suit in DRT for 11 lacs. Plz guide me
Ved prakash Shaw
Responded 5 years ago
Ambrose Leo
Responded 5 years ago
Nirmal Chopra
Responded 5 years ago