#1  
6th May 2015, 02:18 AM
Unregistered
Guest
 
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What are the actions taken by Bank against me if failing to repay Education Loan?


Sir,
I have applied for Bank Education Loan
and studying MBA in Hotel Management
through Education Loan. I would like
to know that if I can't get job then
what action Bank will take?





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  #2  
13th May 2015, 02:32 AM
SudeepKumarSaha
Senior Member+++++
 
Join Date: Dec 2013
Location: India
Posts: 8,583
Default Re: What are the actions taken by Bank against me if failing to repay Education Loan?

Bank can take various actions if you fail to repay the education loan.

- First of all, it will ask the co-borrower to repay the loan.
- Then it will contact the guarantor for repayment of loan.
- Still if the loan is not recovered, it will lodge a complaint in your name in the accounts of RBI by which you or your co-borrower will never get any loan from any bank for any purpose in future.
- It can also take legal action by filing a case against you in court.
Do you have any question? or have anything to say?



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