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Anonymous

i am sanjay my father had a personal loan from a bank of 50000 rs. he died five years back. i am unemployed and my mother is handicap blind. we have very low anual income. we can hardly sustain our b

Posted 2 years ago


A. As for question 1

Yes the bank can auction the property if the same was given as collateral against the private loan taken by your father who is no more. If the property was not given as security or collateral then the bank has no rights.

As for question 2

Yes. [The bank has the rights to waive off your loan]. However no bank would actually do that so they might allow you to repay the loan amount in very small installments taking into consideration your financial status. OR ELSE, they might ...ReadMore
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