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raj (self)     18 April 2014

Limitaion period for credit card payment

Dear experts,

I am having credit cards of different banks, which were issued in 2006/7, from Jan2009 onwards i haven't made any payments due to heavy loss.I never received any statement or notice, as i left that place, without any intimation. After 5 years banks agents came and harassing me &my family.I don't have any income to pay.

Pls let me know the limitation act will help me in this regard.Bank people telling that act is not applicable.

To whom i have to contact in this regard.Pls suggest best way to come out of this mess.Now i am not in a position to settle the amount

Pls advise

Thanks in advance

 



Learning

 3 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     18 April 2014

Submit your grievances to banking ombudsmen with all details. They will try to settle the matter at instant.

Kumar Doab (FIN)     18 April 2014

3 Years.

In other threads initiated by you the member/expert has advised you to file for  

bankruptcy.

raj (self)     19 April 2014

Thanks, is there any difference between bankruptcy and insolvency petition


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