Legal Question in Credit and Debt Law in India

We have joint property and the other brother is jobless and have taken loan from bank and not able to pay due to unemployment. he received summon. Shall we suffer due to his personal loan outstanding. please answer


Asked on 8/06/13, 8:51 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

06.08.2013

Dear Sir / Madam,

Your brother being jobless is no excuse for non-payment of bank loan EMIs. If over 10 EMIs are overdue, and you are unable to repay the loan, you may seriously need to think of selling the joint property to repay the bank loan.

Regards,

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Answered on 8/06/13, 9:48 am


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