Son Discovers Father's Loan After His Passing, Faces Financial Dilemma

Unexpected Financial Burden After a Loss

Following the death of his father, a son found himself grappling with an unexpected financial burden. He took to Reddit to seek advice after learning about a loan his father had taken out. The young man shared that he and his mother visited the State Bank of India to close his father's accounts after he passed away from a heart attack.

During their visit, they were informed about an outstanding loan. The son revealed that there was still ₹10.6 lakh remaining on a loan that had originally been for ₹18.5 lakh. He expressed his distress, stating, 'My father passed away about two weeks ago from a heart attack. My mother and I went to SBI two days ago to close his accounts, and that’s when we learned about the personal loan.'

As the sole legal heir, he faces a daunting challenge, as the ₹36,000 monthly EMI constitutes nearly 90% of his salary, making repayment nearly impossible. He also mentioned that the bank staff informed him that there was no insurance on the loan, meaning he would be responsible for the payments.