Legal Question in Civil Litigation in India

I have taken Educational loan from SBI Gorakhpur for pursuing MCA in 2005.

Approved Loan amount is Rs 3,50,000.

after completing my education in 2008 i could not find any job and i am not find my self to pay the interest part too. bank always asking me to pay the EMI.

but it is not possible for me. right now i am working in a vary small company in which and getting Rs. 6,000 only in Delhi..

i don't have any other means of money family wise i am vary poor.

Now SBI going to sue me.

Bank threatening my 76 year old father to pay he is at Gorakhpur.

i am not find my self what to do....

i know Bank is doing it's work SBI is not wrong but i am not able to repay.

Suggest me what to do...

Regards

Anshul


Asked on 8/08/10, 5:25 am

2 Answers from Attorneys
Fahri Toga TOGA//OKSUZ

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Answered on 8/09/10, 4:12 am
Sanjay. K. Dixit, Advocate. Sanjay K Dixit, Advocate @ Karnataka Bar Council Enrolement No: "KAR/898/2007"

Dear Sir,

That this is the simple money loan transaction, you can avail the option of better bargaining with the Bank official at their negotiation table. Hence I suggest you to do so, otherwise you

can contact head office of the SBI, and see that they cannot harras you for just educational

loan EMI due.

Thank You,

Kind Regard. Sanjay K. Dixit, Advocate,

Davangere - 577 002.

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Answered on 8/09/10, 5:52 am


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