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Home > Forum > Ahmedabad > Other > What are the consequences faced by the co borrower who refuses to repay the loan?

What are the consequences faced by the co borrower who refuses to repay the loan?

Q: I had a query regarding joint home loan. If there is a dispute between the co borrowers and one of them refuses to repay the loan, then what are the consequences?

consequences faced by the co borrower
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Before taking joint loan sign a memorandum and know the liability you will be facing if one of the does not pay the loan. It does not matter whether the payment is made in the normal course by only one of the joint borrowers as long as the full EMI is paid as per schedule.
Sanjana Jain


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