Free Legal Advice

Dear Client, A borrower of a loan is held personally liable for his or her debt for non-payment of the outstanding amount of the loan, and legally, there is no escape route to get rid of that liability. Even in the absence of a borrower or guarantor, his or her surviving legal heirs are held liable to write off the debt from the asset or property they inherited from the deceased borrower. Alternatively, you can try to negotiate a debt settlement on your own if your pocket permits to repay the en

Dear Sir,
Many Banks bluffing like that and taking subsidy amount from the borrowers. If you are able then get details of such subsidy amount released by the Government in your favour otherwise you may close the account by paying such amount and start your new career.

Dear Client,
The current status of Sterling Tree-magnum (India) Limited is - Under the Liquidation process. So, a refund against your investment cannot be ensured so far as the current status of liquidation of the company is concerned. You may like to take up the matter of claim directly with the regulatory authority SEBI and/or the Company or its subsidiaries.

Dear Sir,
It is an option for you to appear or not in the proceedings of pre-cognizance. On the other hand, your insolvency petition is maintainable if the lender is private party because such petitions are not maintainable against financial institutions and bankers.

Dear Sir,
If Axis Bank was not included in the documents then they cannot attach your salary account of Axis Bank. Get certified copies of all such secured loan documents and go to local advocate and try to file a simple suit in Civil Court for a direction to remove lien on your Axis Bank Salary Account.

Dear Client,
Guarantor/Surety is equally liable for repayment of the debt of the principal Borrower and if after exercising all the steps for recovery of debt against the Borrower fails, the Bank takes steps for recovery of debts from the Guarantor, attaching the security offered by the guarantor against the loan. Even in the absence of a borrower or guarantor, his or her surviving legal heirs are held liable to write off the debt from the asset or property they inherited from the deceased borro

Dear Client,
Your query suffers from a lack of information to address it properly. It is a forum where, in the absence of a specific cause of action, suitable legal remedies cannot be suggested based on the standalone situation/circumstances. So, please revert to us with more details and a cause of action that requires a legal remedy. However, be informed that even if your wife has not been staying with you for the last nine months, she can file a complaint under the Domestic Violence Act in cas

Dear Client,

First of all, financial institutions, including NBFCs, are required to conduct due diligence before sanctioning loans. This typically includes assessing the borrower’s repayment capacity, which includes evaluating factors such as income, existing liabilities (EMIs), and overall financial health. In your case if the NBFCs have granted loans to you despite your already high EMI-to-income ratio, they may not have followed proper due diligence, which could be seen as irresponsible l

Dear Client,
A borrower of a loan is held personally liable for his or her debt for non-payment of the outstanding amount of the loan and legally, there is no escape route to get rid of that liability. Even in the absence of a borrower or guarantor his or her surviving legal heirs are held liable to write off the debt from the asset or property they inherited from the deceased borrower. You can try to negotiate a debt settlement on your own (under OTS- One-time settlement scheme) if your pocket

Dear client,

Since you are a salaried government employee, you have better chances of negotiating a loan restructuring under the RBI's restructuring guidelines
Contact Your Lenders (Again, with a Plan):
Prepare a realistic repayment plan based on your budget.
Explain your situation honestly and provide documentation of your income, expenses, and debts.
Even if they initially refused, make a formal written request for restructuring or settlement, and keep records.
Explore the possibility of cons