Usage of Credit Card by my friend
P MURUGANANTHAM
(Querist) 29 July 2009
This query is : Resolved
Dear Sir,
I am having 5 more banks credit card, that was used by my friend for the last 3 years and repaid the amount within the due date since March 2008 after that he swiped my various bank credit card for Rs.500000 (Five Lakhs) and he is not paid the amount in due date. In this situation I want to Transfer my Card Liability to my friend’s name. It is possible as per Law, because all bank officers come to my home and asking the payment for the swiped amount.
Please help me to come out from this problem
I am awaiting for your reply
P.Muruganantham
J. P. Shah
(Expert) 29 July 2009
Since cards belong to you, you cannot legally transfer liability to your friend. You are liable to the bank.
