Legal Question in Consumer Law in India

i have taken Rs 200000 MBA Education loan from State Bank of Mysore in 2007. My cource completed in 2009, my father and brother in law are the guranttor and also they taken my father LIC bond as a security. Till now i have not paid any interest and priniciple amount becuase of receission i am getting any job and my family problem. i need some time to pay the amount , i am fear what bank will do i am not asking about loan cancelled, just i want some time. please help me what i need to do.

Asked on 12/13/11, 9:45 am

Sudershan Goel India Law Offices of Sudershan Goel - Advocate

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You should immediately arrange payment of interest amount and request the bank for further time to start payment of principal and future intt.

Answered on 12/13/11, 11:02 pm

Aniruddha Pawse Aniruddha.P.Pawse Advocates

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i agree with Adv goel

Answered on 12/14/11, 2:06 am

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