Am i liable and should pay my father’s Small business loan?
Dear sir,
My father died in the month of may ,2014 He has Jewel loan and this business loan in Indian bank. But we know he was took jewel loan only from that bank.
For this jewel he was paid almost 90% when he alive.
So then i have paid remaining balance. While clamming jewel thay said your father have an another business loan in this bank, First settled the loan amount after that you can claim the jewel.
At that time we dont have money and am job less person so we have leave it.
Now the bank manager and loan section officer called me and said you and your mother signed as guarantor in acknowledgement form. You and mother should come and sgin in renewal form and pay the loan amount if you’re not signed we will file case against you and your mother.
We don’t singned any acknowledge form of renewal but we have filled and signed clam form and submitted required documents like death and legal heirship certificates.
Few months back i have got job with less salary, i dont have ability to pay the loan. My mother also in sick.
Now they are threatening us and spoke harshly.
Loan amount is rs: 60,000
With interest upto this month 90,000
Please help us. I need your advice.What we do further? What action they will going to take against us.