Legal Question in Credit and Debt Law in India

Personal Loan and Housing Loan

Hi, My husband had taken a Personal Loan and also a Housing Loan from ICICI Bank, The personal loan have 48 EMI (30 paid) and have no being paying since April 2009 since my husband lost his job, we informed the bank that, we can manage only Housing Loan till the time he gets a job, and then start paying the Personal Loan as well, but the Recovery manager says that if we do not pay one more installement, both our loans will be clubbed and we will have to pay double installements, is there any law which states that if the bank is same they can anytime change their rules. Please advice.


Asked on 5/26/09, 4:23 pm

2 Answers from Attorneys
KAMAL GROVER

Re: Personal Loan and Housing Loan

If you are paying for one then they cannot club it. coz terms and conditions of both are differen. You can apply before the manager of the bank to relax you for some time else file a case in the court and it will take a long time of three four years to decide and in the mean time your position will be alright.

For further assistance plz contact at

adv.kamal.grover.gmail.com

We deal cases in the courts all over India.

M: 09814110005

Chandigarh Office

We strive for your rights.

Good Luck.

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Answered on 5/27/09, 2:57 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Personal Loan and Housing Loan

They may be entitled to recover their dues. You may need to settle the matter amicably to avoid unnecessary and unwanted litigation/expenses.

However, you may seek relief from Consumer Court for breach of contract by the Bank.

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Answered on 5/26/09, 8:38 pm


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