Loan borrowed from Bank

Dear client kindly approach to concerned Bank and ask about all details and try to find out settlement and further process with discussion of bank or credit manager.go through experienced advocate

Dear Sir,

There are several options as follows:

1. Usually the SBI might have insured against the loan advanced so the insurance company will discharge such liability.
2. Since the said loan was not utilized for your family that is for the welfare of legal heirs of deceased as such you are not liable.
3. They should be some surety or mortgage on the said transaction.
4. Please approach an experienced advocate.

Dear Madam,
As I understand your husband was Asst Manager in SBI and had taken a loan of 4,20,000 after his retirement.That loan might be Pension Loan and you have not mentioned the type of death, the natural death or death due to accident. In case of accidental death the compensation will be awarded to the legal heir. SBI must have made some arrangement for recovery of loan with interest.So, when you are enjoying the property of your deceased husband you are also liable to clear his dues to the Bank .Most important document is the Agreement which is available with SBI Branch from where loan has been sanctioned. But in common sense you have to pay the loan with interest. Better go the Bank, meet the concerned Loan Officer/Credit Manager and look for one time Settlement.I am sure the SBI staff will help you as your husband was an Ex Employee of the Bank.
Shanti Ranjan Behera, Advocate

Dear Madam,

You should approach to concerned Bank and ask about all, ask whether the said loan had been disbursed in his account, on which date , if loan money had been in account, then to whom account money has been given , or taken out at what date, what amount, which mode, cash--use of ATM or Cheque.

By advocate Rameshwor dadhe dear mam if any property attached or mortgage to the bank. If yes then Ur laiblity to pay it . Or if Ur not co.applicant then nothing any laiblity on u . Otherwise file complaint against them. Or if you don't have any income source at the time file insolvency suit

In case of death, all debts and liabilities pass on to the legal heirs.Therefore in view of such legae principle, the liability of loan has passed to u.better seek personal consultation to seek better guidance for what best can be done in such a situation.

Dear client tell me that when your husband took the Loan from bank your house or any other property was mortgaged in Bank ? Do u reside in mortgaged house or u use mortgaged property belonging to your husband ? If the Loan is not repaid bank will take over mortgaged property.
U r not responsible to repay the Loan of your husband, but Bank is authorized to recover its loam by taking possession of mortgaged property.

SBI will not recover the loan of your husband before his death, now i.e., after his death from you. If you inherited any property from your husband then S.B.I will recover the loan from his assets in your hands. In eye of law you and your husband are separate persons. S.B.I will not recover loan from your separate properties.