Legal Question in Banking Law in India

I had borrowed 2 personal loans in 2005 (Citibank and Standard Chartered) on insistence of my husband as his loan application was rejected. He couldn't make the EMI payment as well so I had to pay the EMI till we were together. This money was borrowed for him (Car down-payment and other wedding expenses from the groom's side). In 2012 we got divorced, he has not given me any maintenance money and has conveniently passed on the liability of the loans to me. For obvious reasons the loans were on my name and now the banks are harassing me and my widow mother for the balance payment. How can I come out of these problems. Please help.


Asked on 3/11/15, 5:00 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

12.03.2015

Dear Madam,

Since the two personal loans were taken during your marriage in 2005 and have not been fully repaid from the date of your mutual separation and divorce in 2012, the Court ought to have decided on the joint liability of your husband and yourself to settle off the two personal loans. If the Court has already ruled that the two outstanding loans will be equally repaid and settled by your husband and yourself, you should furnish a copy of the Court order to the two Banks clearly stating in your application that your mother not being a co-borrower nor a guarantor is in no way connected, involved nor is she legally liable in any nature whatsoever.

Regards,

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Answered on 3/11/15, 9:37 pm


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