Chosen by Asker

If you have signed the documents as a guarantor , the bank will definitely make you a party in their recovery suit . After the death of your mother , bank will sue the inheritors of her property , if any . It is better if you / mother negotiate with the bank for repayment in small installments.

by Zenda

4 weeks ago

Asker's Rating: 

They can sue to your mother,not you.Do not worry. You can take advise from any professional regarding this matter.

by Jaysinh B- 4 weeks ago

In One case If you are A Guarantor then bank will sue you, otherwise bank can't take any action against you.

by sabby- 4 weeks ago

If ua stood guarantor then bank will definatelly ..rest ua mom should've to reply that notice in written format through lawyer ..If bank demanding illegal amounts then ua mom should have to file suit for settlement of accounts in Court of law ..N ..too have to sought restrainment order from Court against bank ..For oll this ua've to consult from ua lawyer ..Goodluck

by Swt@fnd- 4 weeks ago

Bank have all rights to recover money from you if you have signed the documents as a co-applicant or a co-borrower. Under such circustances bank have the right to recover any money that you owe to the bank thru this loan. However if you have signed dox in a capacity of gurantor, they bank have right to recover money only to certain extent and cannot recover entire dues from you. Ideally they will set a repayment term which should not exceed 24 months. Best is you approach a qualified financial consultant in your locality to guide you.

by Sumant- 4 weeks ago