Loan

arjungoyal12

KF Mentor
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
 

Gigachad

KF Mentor
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?
 

cardy

KF Expert
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

KF Rookie
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.
 
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 🙏🙏
 
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