Legal Question in Banking Law in India

Re: Non payment of personal loan

Your statement may not be complete for an appropriate answer. You may rather show all your documents to a local lawyer for appropriate guidance.

Re: Non payment of personal loan

If you have signed as surety for your friend, the bank will look upto you for paying the rest of the EMIs. Pl. ascertain his legal heirs and request them to continue to pay the EMIs. Otherwise, you have to pay. No way you can escape liability unless the loan is repaid either by the legal heirs of your friend or by you.There is no other way to come out of this imbroglio which is your own making.

Re: Non payment of personal loan

Hello.

GOOD MORNING!

In this case if you have signed as a guarantor for your friend its very obvious the Bank will make you pay the rest of the EMI's.

At the earliest, you may contact a local lawyer with all the documents.

If your are from Ahmedabad City, GUJ then please contact personally.

In case of need please contact alongwith the details.

OR

Mail me in case of futher query.

Re: Non payment of personal loan

Yes, since you are the surety. However, you can request the family member of your friend to make the EMI payments.