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Regarding Education Loan
2 years ago
My wife got education loan for her MBBS at 17yrs for study in 2010 ,with amount of 7.5lakhs pledging land by her father co-applicant since she is a minor, but now loan repayment amount is 21.5 lakhs and he is not able to practice as doctor since is suffering from eye problem where she is unable to practice, is any option to cancel the loan amount or any other option
A.Hi,
There are a number of reasons for which you can seek for cancellation of your education loan which include Dropout from college, Cancellation due to death which will be according to the respective policies of the different banks/organizations. Kindly let a legal person go through the documents and then apply for cancellation.
Thank you.
Kindly give a proper rating.
There are a number of reasons for which you can seek for cancellation of your education loan which include Dropout from college, Cancellation due to death which will be according to the respective policies of the different banks/organizations. Kindly let a legal person go through the documents and then apply for cancellation.
Thank you.
Kindly give a proper rating.
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A.Hello Sir
If you default on your student loan: Your loans may be turned over to a collection agency. You'll be liable for the costs associated with collecting your loan, including court costs and attorney fees. You can be sued for the entire amount of your loan. It would be advised to contact a lawyer or a mediator to talk with bank and negotiate to reduce the amount payable. But in no way you can escape from the liability to pay back the loan.
Thanks
Please rate if you find this advice helpful.
If you default on your student loan: Your loans may be turned over to a collection agency. You'll be liable for the costs associated with collecting your loan, including court costs and attorney fees. You can be sued for the entire amount of your loan. It would be advised to contact a lawyer or a mediator to talk with bank and negotiate to reduce the amount payable. But in no way you can escape from the liability to pay back the loan.
Thanks
Please rate if you find this advice helpful.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
A.Hello Sir/Ma'am
There is no wat you could get away with the obligation of paying of the debt. You'll have to pay for the loan taken. Although you could contact the bank and try to negotiate the amount payable and get the amount reduced.
Thanks
Please rate if you find this advice helpful.
There is no wat you could get away with the obligation of paying of the debt. You'll have to pay for the loan taken. Although you could contact the bank and try to negotiate the amount payable and get the amount reduced.
Thanks
Please rate if you find this advice helpful.
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