Education loan
3 years ago
I have taken my education loan from State bank, Palappetty, Malappuram , Kerala, on 2009, with amount of 225000/- rs and until 24th March 2021 and I have paid around 32,3755/-. Also, along with gov subsidy’s 41,6376 has paid to my loan account. And As per latest statement, it seems that I have to pay 21,0697/- more to close the loan.
I don’t have any good profile or salaried job to repay the big debts . And I have already paid approximately 75% extra of my loan amount as interest .
At this difficult situation, my humble request to consider my case for lok adalat to free from this big debt.
A.You can opt for individual insolvency process as u have taken educational loan n unabel to repay it. But the court cannot just waive away a loan like that way as it is from a Nationalise bank, also they have the lowest interest rate & you must have signed the agreement for the same. Maximum u can get restructuring of the loan by increasing the tenure & reducing the EMI amount.
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ADV. ANISH PALKAR (High Court)
If you realize my professional skills, the time & efforts put in by me needs to be truly appreciated, and then Please “CLICK MY LIKES/ THUMBS UP/GIFT” button shown below this reply format & also CLICK/ WRITE a “REVIEW” in 5 star as I have answered your query in detail. Hope this information is useful
ADV. ANISH PALKAR (High Court)
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.Hi,
You can apply for more time. Or you can give collateral security to the bank.
The court cannot cancel the rest amount as it'll be unfair to the second party.
If you like my answer, please give a good review.
You can apply for more time. Or you can give collateral security to the bank.
The court cannot cancel the rest amount as it'll be unfair to the second party.
If you like my answer, please give a good review.
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A.Hi,
You can opt for individual insolvency process if you wish to. The court cannot just waive away a loan like that.
If you like my answer, please give a good review.
You can opt for individual insolvency process if you wish to. The court cannot just waive away a loan like that.
If you like my answer, please give a good review.
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