[email protected]
3 years ago
I have a loan with Citi of 2,50,000 (principle) and credit card outstanding with HDFC bank of 4,15,000 (principle). I have not paid since April 2020 due to COVID and medical reasons and do not think I can for another year. I am salaried. I have offered a 20% settlement given the job scenario and medical expenses incurred due to breast cancer treatment which is the best I can do at this point. Citi is agreeing for a decent settlement but HDFC bank is refusing. What I would like to know is my home is in joint name including mother and me (mother being primary owner). Can they try to do an acquisition of the property? What is the best step I can take to save myself here? Does it make sense to transfer my 50% to my mother including my vehicle so they have no hold on it?
Ayantika Mondal @ Prime Legal
Responded 3 years ago
please provide more details on this issue to serve you. the facts are missing, what type of loan is it, etc.
however, we advice you to talk to the bank and express your problems.
Ankur Goel @ Complete Law Shield
Responded 3 years ago
loan of citi is personal or which type of loan ?
you can transfer your 50% to your mother.
Hope this clarifies,
Advocate Ankur Goel
(Complete Law Shield) #YourLifeYourChoice
Note - This is just a small advice. Proper advice can happen only after going through details.
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