1) your mother is liable to repay loan amount only to extent she inherited any property from your father
2) merely because mother is nominee would not make her liable
Bank loan recovery call after 10 years
My mother has recently received a call from bank asking for the recovery of loan that my father has taken almost 11 year back. My father was missing from 2006 and we have filed FIR in police station. After several inquiries case has been closed. My father is an govt employee. As it is an abscond case we haven't received any pension from the office till 2016. We haven't received any letter or call regarding loan till today. As nominee is my mother they are asking us to pay the amount. Ours is not a worthy family to bear such huge amount. We both girls are only children of my mother and she is striving hard to get us married. In such case how can we pay such huge amount. For being a nominee should my mother bare all the debts which my father left. How should we move forward. Please suggest us
Asked 8 years ago in Civil Law
7 Answers
Hello,
usually the nominee do not bears all the burden if the person who took the loan fails to pay back the amount, your mother is receiving the notice because she is legal heir.
You are receiving such recovery notice now because a person is considered dead if he is not traced 7 years after the date he was last seen/ the complaint was lodged. Usually time for filing such recovery proceedings is 3 years.
Do not worry about the same until and unless they initiate some proceedings in the court, as soon as you will receive the notice you will have to appear before the court and challenge the proceedings on ground of limitation etc. Contact a good local lawyer at that point of time.
Regards
1. Any monetary debt if remaining due for payment for more than three years becomes time barred and hence no civil proceeding can be filed to recover the said loan amount.
2. So do not respond to the demand of the bank officials unless you wish to repay the money.
3. Moreover if the loan was unsecured and the borrower i.e. your father already died then you being hie legal heri ahs no legal bindings to repay the debt.
So act accordingly.
Usually a bank should file a case for recovery within 3 years, but since in your case your father will be presumed to be dead after 7 years from the date of lodging the complaint, therefore the bank has initiated the recover y proceeding now.
Pls don't worry unless you receive a notice from the court and as soon as you receive the same, challenge the recovery proceed on the ground of limitation and equity.
Hi, the liability of your father cannot be imposed upon your mother .. Your mother is not legally liable to pay the loan amount .. The bank is troubling you unnecessary .. If they file any civil case , appear and fight the case .. The case will be in your favour ,,don't worry
As per, Limitation Act 1963 Sec. 30 Of Part II Sec. 21 - Loan contracts valid only 3 years from the date it get executed.
You may discuss with me to understand more into your issue and provide solution.
Firstly your mother should not acknowledge the loan liability.
The loan is barred by limitation hence never make any commitment towards repayment.
The nomination to pension account cannot be claimed as loan liability.
If the bank has sent any notice you may send a reply notice denying all the allegations.
