2 Answers
Dear Sir,
Can They Take Wife’s or Mother’s Gold?
NO, unless:
They are co-borrowers or guarantors.
You pledged that gold as security.
If loan is only in your name:
Wife’s gold = her Streedhan → legally protected.
Mother’s gold = her independent property.
Bank cannot seize without court order.
Dear client,
Legally, it is impossible to settle bank loan without paying money. Banks have provided their loans based on trust in you and, therefore, it is your legal responsibility to repay the loan. Nonetheless, you still have options to relieve the pressure without immediately selling your investments.
First, contact all three of your banks and be honest about your financial difficulties. Request for loan restructuring, which is where you can extend the length of the loan making EMIs more manageable and affordable. Many banks will permit restructuring if you approach them cooperatively in advance.
Secondly, you may also request for a short-term moratorium or EMI deferment for a few months. While you are allowed to defer payments, you will still be responsible for the interest payment.
Thirdly, if your account has been classified as a NPA (non-performing asset), you may attempt to obtain a one-time settlement (OTS). In an OTS, banks may agree to accept a reduced lump-sum amount; however, this will have a negative impact on your CIBIL score.
It is important to note that banks cannot force you to pay immediately; however, there are remedies available to them such as sending you a legal notice, recovering payment from your salary or instituting legal proceedings against you.
Do not ignore your bank. Communicate with your bank and negotiate. It is important to protect your credit score for your future financial health. You cannot legally close your loan without paying it back or settling it.
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Father died on 28december 2025. My father didn't left any will. My mother had joint account with him so she transferred all money in her account without my concern. When I am asking about my shares in money she refuses And saying, there is no money in account. My sister husband helped her to transfer money in her account without my concern
If you have any queiere please feel free to contact us