How to handle case against me for education loan?
Situation : Hi Sir/Madam,
My name is Sriram from Vellore (Tamil Nadu). I got education loan for my engineering degree (2008-12) but could not able to repay entirely. I could not get a job for an year and the job wasn't paying me enough to handle my own expenses. And my mom got cancer and entire money went for that. and I paid 1.25 L and rest am paying month on month (15,000 per month). Am ready to pay 15000 every month but they filed a case against me and asking me to pay 1.5L now but I don't have any jewels or property to sell and pay them. I tried but could not get bulk money. The bank is not accepting my request. If they arrest me, my entire career and life will get spoiled. Kindly provide me suggestions that how can I handle the situation?
Thanks in advance,
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There are so many circulars and instructions to the bankers to waive of such educational loans wherein candidates unable to get jobs or atleast to waive of interest thereon. The bankers can do nothing but they may approach civil court where you will get installment facility to payback the educational loan.
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