Credit cards

dhirendra athnere (Querist) 21 February 2015 This query is : Resolved
Sir/madam
I'm had a credit card due to major problem and unemployment since 1 yr I Unable to pay since last seven months,the bank syas they are going to legal process. I would like to knoe about legal process in that case.

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Guest (Expert) 21 February 2015
If you had Not Issued Any Cheques the Legal Process Could be Only of the Civil Nature which you Could Take Care with the Help Of Local Good Advocate.

Devajyoti Barman (Expert) 21 February 2015
legal step can be civil suit as well criminal case as well.
Repay the money which you took.

Dr J C Vashista (Expert) 22 February 2015
I agree with the expert advise of Mr. Devajyoti Barman.

Rajendra K Goyal (Expert) 22 February 2015
The rate of interest in credit card amount is very high. Recovery team may make your life hell. It is better, arrange the money and settle the amount. Try if they are ready to give some concession in interest and if so ask the settlement amount in writing.

They can also initiate recovery suit and criminal proceedings.

ajay sethi (Expert) 22 February 2015
opt for one time settlement with bank . on failure to pay bank will file summary suit to recover outstanding dues with interest

Guest (Expert) 22 February 2015
Any Harassment by bank Recovery Staff/Agent is Illegal.Only Legal Steps for Recovery Should be their Remedy and Not Harassment Or any other Tortures.Find a Good Local Advocate and Be Legally Protected.Do Not give any Commitment by Writing Or Never Issue Cheques.No Criminal Suit is Possible with out Issuance of Cheques by You.In A case The Recovery Staff of a Bank who are almost Goondas misbehaved with the Wife of A Client and She had Committed Suicide and RBI is now Very Strict about Recovery Methods.If you are Not in a Position to Pay Now Do Not Worry and Handle it Safely and Legally.These Bankers would Tie their Hands before the People Who Owe them more than 1000 Crores and would Try to Torture only the Persons Who Owe them Peanuts.Handle it Safely with out getting Panic and You would be Safe No Doubt.

T. Kalaiselvan, Advocate (Expert) 24 February 2015
Better reconcile with the bankers/credit card agency and go for an amicable settlement by offering one time settlement etc.

Sudhir Kumar, Advocate (Expert) 28 February 2015
pay the dues.

Guest (Expert) 28 February 2015
Non-payment of dues will tend to bring down your credit rating with CIBIL that create difficulty for you in getting further loans from banks, as defaults are notified by the banks to CIBIL.

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