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UI’m 19M, my father had taken out a loan from tata capital or smthing for the value of 11lakhs in 2021, he has paid around 12.5 back but unfortunately lost his job back in January 2024
Since then the loan installments were going out from our savings and whatever my mom earned through taking tuitions and monetary support from friends and family.
Now when push has come to shove, I’m hearing about these agents coming to my house soon from my father.
My only question to y’all is, how do I deal with them. Like if someone misbehaves w my mom or sister, I’m done there. I literally won’t give a damn about myself in that scenario.
What are my rights in such a matter?
How exactly do I deal with these agents?
Help a brother out!
Thanks for reading! -
HTell your dad to to inform them that he lost job and request for a One Time Settlement (OTS) for a lesser amount than what is outstanding. Since you have paid a large portion of the loan amount, I doubt a lot of amount would be still outstanding. I don’t think even they want to take legal action against you in such a situation because that would cost a lot. Was any property mortgaged as security for the loan?
They will not misbehave with your mom or sister, but just in case, don’t do anything rash. It will only make the matter worse for your parents. Maximum they will do is to say something offensive to provoke you guys.
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UAs per what I know, he has paid upto 12 lakhs. And about 2-3 remain.
Yeah, I’ve asked them to record each and every conversation that takes place.
I’ll talk about the ots. We don’t really have any assets apart from the house that we own. I’m not really sure about it but I really doubt that my house would be mortgaged for the loan
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