Collateral Security | Vkeel - Free Legal Advice

*****h

Coimbatore

Res.Counsels I had loan in a nationalised bank using my property as security and loan is running for 2 years now my friend have good track and business but he doesn't have security. Is there possible to give my property(which already loan is going) as collateral as security.

Expert's Answers(3)

Kishan Dutt Kalaskar 40 years Exp (Retired Judge)
Bengaluru Urban, Karnataka

187 Client Ratings

Better you avoid unnecessary complications. Be cool. Your property is having a charge, first clear your loan and then raise loan for your friend.

December 3, 2017
Advocate N Karthikkanna
Madurai, Tamil Nadu

60 Client Ratings

For further assistance private chat or Whatsapp to 9865091700

December 3, 2017
Advocate N Karthikkanna
Madurai, Tamil Nadu

60 Client Ratings

Collateral is primarily for the satisfaction of the creditor.. if ur property worths more than the outstanding, they can take it having the possession of the title documents.. I think some private banks takes such risk.. others will avoid..

December 3, 2017