Legal Question in Credit and Debt Law in India
My elder brother age 40 is an alcoholic from last 10 years we means my parents his wife and me but he is just not getting out of his addiction. Now it have reach a point that he have personal loan and car loan both around 10 L. He don't live with me but for his credit card he have given my address without taking my permission. My question is when the bank person come to my door step for money what should I do?
1 Answer from Attorneys
27.01.2017
Dear Sir / Madam,
You should politely ask the Bank not to pursue recovery action against you, but with your brother since he remains the borrower of the loan. You should ask the Bank to complete the Know Your Customer (KYC) formalities with your brother so as to update his current address and other particulars on the Bank's records. But I must confess that your brother's alcoholic addiction has nothing to do with the repayment and settlement of his personal, car loans and credit card dues owed to the Bank.
Regards,
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