Joint Loan Dispute Resolution

Summary

In joint loans, both parties are responsible for repayment. If a bank issues additional loans without consent, request a detailed account from the bank. Consider sending a legal notice to the bank and co-borrower. You can also approach the Banks Ombudsman for grievance redressal. Document all communications for potential legal action. Consult a banking lawyer for personalized advice.

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we have taken a home loan in joint name and in property also name is joined and bank has issue more loan to other person without any concern of other person and and the other person is not paying the loan amount and bank is saying i will auction the property
Hey Aditya! It seems like a challenging situation. Here are some general legal points you might consider:
- Joint Liability: In joint loans, both parties are equally responsible for the repayment.
- Legal Notice: Consider sending a legal notice to the co-borrower.
- Bank Communication: Discuss with the bank and request a detailed account of the loan terms.
- Injunction: You could file for an injunction to temporarily halt the auction process.
Would you like to get connected to local lawyers who can provide more detailed assistance?
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I'm here to help you, Aditya. Could you please provide your city or the *-digit zipcode where you are located? This will help us connect you with a local lawyer who can assist with your joint home loan issue.
but bank dont take any permission from other person and given the loan and the bank given loan is personal loan and cc and a credit card
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Aditya, it seems the issue involves the bank issuing additional loans like personal loans and credit cards without your consent. For a joint loan, both parties should be aware of any additional credit. Here are some steps you might consider:
- Bank Inquiry: Request a complete statement and explanation from the bank regarding the loans issued without your consent.
- Legal Notice: Consider sending a legal notice to the bank questioning their practices.
- Dispute Resolution: You can approach the Bank's Ombudsman for grievance redressal.
Would you like a lawyer to assist you with these steps?
okay waitung
Case Rating: *
Aditya, it seems like a high-value case due to unauthorized loans and potential property auction risk. You should soon be contacted by a top-rated banking lawyer who can provide detailed assistance. If you have any more questions or need further help, feel free to ask!
no need a good banking lawyer
Case Rating: *
Aditya, if you change your mind about seeking legal assistance, feel free to reach out. Meanwhile, consider documenting all communications with the bank and co-borrower. This documentation will be helpful if you decide to take legal action later on. If you have further questions, I'm here to help!