Loan

[प्रफूला_56]

My father helped his friend by becoming guarantor now he is not paying . Case has been gone to court . Because of that cibil is affected. What could be done to get out of it

 

[arjungoyal12]

What type of loan it was? You can request the bank to recover the loan from the property if it was a secured loan against a property

 

[प्रफूला_56]

What type of loan it was? You can request the bank to recover the loan from the property if it was a secured loan against a property

It was auto loan unsecured

 

[nikhilchauhan]

It was auto loan unsecured

Auto loan against a car or bike. In that case also, they can seize the vehicle and auction it easily

 

[प्रफूला_56]

Auto loan against a car bike. In that case also, they can seize the vehicle and auction it easily

Auction has been done but bank has to say that after selling of vehicle also they could not get value of the vehicle , so the remaining value has to be paid by the customer

 

[Gigachad]

My father helped his friend by becoming guarantor now he is not paying . Case has been gone to court . Because of that cibil is affected. What could be done to get out of it

I think your have to if he is the co borrower,

Why the friend not paying?

 

[प्रफूला_56]

I think your have to if he is the co borrower,

Why the friend not paying?

Don't know

 

[cardy]

Your father's cibil will be affected nothing you can do in this.

After this you have to maintain your score and recover score by taking revolving credit or installment loan and paying on time

 

[shyaranakyu]

My father helped his friend by becoming guarantor now he is not paying . Case has been gone to court . Because of that cibil is affected. What could be done to get out of it

1. First of all, it is really a difficult time for your father and your family. So please be with him and support him unconditionally.

2. I would not suggest you anything which is not possible. Legally you are at the backfoot, so you can only win this battle with direct communication with your father's friend and his family.

3. You can try contacting the family of your father's friend. May be, you will find someone in their family empathetic to understand and support your father. Sometimes, these things take time but talking to the family members generally helps.

3. Legally things are generally against you. And the more this thing stretches, it will keep affecting your Cibil score and also may attract a civil court case in near future.

4. I would recommend you to convince his family members only. That would be the only solution. Otherwise in long run, your cibil score and peace of mind will get disturbed.

5. Stay with your father. You are his only support and motivation. He will cross this difficult time successfully if you support him unconditionally.

Hope it helps.

 

[प्रफूला_56]

1. First of all, it is really a difficult time for your father and your family. So please be with him and support him unconditionally.

2. I would not suggest you anything which is not possible. Legally you are at the backfoot, so you can only win this battle with direct communication with your father's friend and his family.

3. You can try contacting the family of your father's friend. May be, you will find someone in their family empathetic to understand and support your father. Sometimes, these things take time but talking to the family members generally helps.

3. Legally things are generally against you. And the more this thing stretches, it will keep affecting your Cibil score and also may attract a civil court case in near future.

4. I would recommend you to convince his family members only. That would be the only solution. Otherwise in long run, your cibil score and peace of mind will get disturbed.

5. Stay with your father. You are his only support and motivation. He will cross this difficult time successfully if you support him unconditionally.

Hope it helps.

Thank you for your concern