• Loan against property

mere father ne ge financial se 10 saal pehley loan liya tha.GE  walo se hamari baat chal rahi thi to reduce princilple amount. jiske  wajah se humney EMI deni band kardi.now  in between GE Finance  sold their business to magma financial and its more than one and half year in this time  they contact twice or thrice to pay whole amount. How i can exit from this   Please Help me.
Asked 3 years ago in Property Law from Delhi, Delhi
visit heir office for settlement talks . dont sign any document before consulting your lawyer . since loan is NPA finance company may reduce interest component . if finance company does not have any security of yours they would be more flexible in settlement
Ajay Sethi
Advocate, Mumbai
23079 Answers
1212 Consultations
5.0 on 5.0
The only way out is to negotiate with them for reducing the amount of loan. Such a request, if skilfully made, can yield positive results as the finance company may in its wisdom reduce or even waive off the interest. Do not sign any document without getting it vetted from your lawyer as it may result in forfeiture of your legal rights. Act strictly on the instructions of your lawyer.
Ashish Davessar
Advocate, Jaipur
18049 Answers
445 Consultations
5.0 on 5.0
I think you must show all paper to some lawyer and than take action.
Anil Gupta
Advocate, New Delhi
180 Answers
41 Consultations
4.3 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
Ask a Lawyer

Property Lawyers

T Kalaiselvan
Advocate, Vellore
13902 Answers
127 Consultations
5.0 on 5.0
Ajay Sethi
Advocate, Mumbai
23079 Answers
1212 Consultations
5.0 on 5.0
Ashish Davessar
Advocate, Jaipur
18049 Answers
445 Consultations
5.0 on 5.0
Krishna Kishore Ganguly
Advocate, Kolkata
12027 Answers
226 Consultations
5.0 on 5.0
Devajyoti Barman
Advocate, Kolkata
5131 Answers
54 Consultations
4.9 on 5.0
Rajgopalan Sripathi
Advocate, Hyderabad
868 Answers
43 Consultations
5.0 on 5.0
Atulay Nehra
Advocate, Noida
423 Answers
15 Consultations
4.7 on 5.0
Ajay N S
Advocate, Ernakulam
1905 Answers
19 Consultations
5.0 on 5.0
Shivendra Pratap Singh
Advocate, Lucknow
2693 Answers
41 Consultations
4.9 on 5.0
S J Mathew
Advocate, Mumbai
1949 Answers
65 Consultations
5.0 on 5.0