LOHESHVARA (pvt) 02 March 2012
My friend having a credit cards for 3 bank withdrawn all the limited usable money upto 2 lakhs. now amount to be paid remind letters are coming to my address. now friend changed his location and abscanding for one year. but loan amount and service charges simply incresing in the reminding letter.
My question is what that credit card banks are goint to take any action by leagaly if he caught. What type of punishment he has to face.
Kindly inform me.
RAJU O.F., (Advocate) 04 March 2012
Unless the dues are settled the banks would engage private detective agencies to locate the defaulted borrower and take harsh steps. Better settle the dues amicably.
LOHESHVARA (pvt) 08 March 2012
Thank u Raju for your reply. all the dues he has to pay will they give some relaxation.
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