Shekhar Pandit (Individual) 04 May 2011

Credit Card

Hi,

I was working till Mar 2010 and has lost the job thereafter. I have Credit Card Loans with Rs. 1.36 Lakhs payable plust Crdit card dues worth Rs. 1.00 Lakhs or so. I am just not been in a position to pay the same. What is the worst that can happen under the circumstances and is there any remedy. The Bank is ICICI Bank and they are just not willing to budge a bit. I really need legal advice on the matter and look forward for the same.

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1 Replies

Shivakumar (MANAGING DIRECTOR) 04 May 2011

The dues must be paid but there is provision for each and every situvational cases

here you can hire the advocate and get the direction ,

it is understood and accepted that you own dues to bank , but based on your standered of living the cards are issued ,

also please note the cridit card dues are subject to princepal only but charges of interest can be made discountable in the court of law for which you have to appel for reduction of interest along with time required to pay the same

Please go through the charges of interest

go to RBI Web site and Go for DBOD RBI directions about charging of cridit

in case you have no income for your daily food then the court can give some relefe or may call for one time settelment along with time duration for making a payment in Lok adalath

best regards

Shivakumar

Hubli