Legal Question in Banking Law in India
hello sir/ madam, my friend's mother take a loan on her credit card aprox 2 lacs, but after that in an accident she was passed away. after 6 months in august bank persons come to my friend mother office for loan amount after some legal formalities and discussion with bank manager the loan amount with interest reduce from 2.45 lacs to 1.5 lacs and they have 50000 of them and remaining 1lac is to be paid since 22 nov, but they are not able to pay it now, is it possible to increase time limit or what type of action can be taken against them if they will not pay
Asked on 11/04/15, 9:41 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
05.11.2015
Dear Sir / Madam,
Your friend should pay off and settle his deceased mother's outstanding loan at the earliest.
Regards,
Answered on 11/05/15, 3:47 am
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