Default of credit card payment

Dear Questioner,

Evasion of payment to Bank either on credit cards or on account of debt in respect of any loan transaction shall never be possible. Today's Banks are equipped with suitable infrastructure aided by Expert and experienced Advocates who in turn would advise the Bank to take legal steps. If your friend does not have any properties, he will be subjected to arrest and detention in civil prison in course of the Execution Proceedings of the Bank in the event of his failure to pay the amount even after preferring a suit by the Bank. Advice your friend to seek easy instalments to pay off the credit card amount through an application to the Bank concerned, lest the law will take its own recourse.

Hope this would satisfy you.

Truly Yours,

GY Sharma

Advocate

Hello Mr G.Y. Sharma,

As per your advice, do you mean that the bank has a right to take over the debtors property (if he co-owns one) if a credit card payment is due?

Regards,

Abhi