Legal Question in Banking Law in India
Im axis credit card defaulter with actual usage amount of Rs. 35000, which after non payment for 8months they are claiming to be Rs. 125000. I have recieved a legal notice from Bank's advocates asking me to pay the amount outstanding within seven days. I'm not in financial state to pay back the amount. Can they issue a warrant against me. Please suggest me what should I do. I'm much worried and depressed
2 Answers from Attorneys
17.06.2016
Dear Sir / Madam,
Yes, you should go and meet the concerned Bank Manager, check calculations, discuss, negotiate and agree on the repayment and settlement of the outstanding amount due to the Bank.
Regards,
1) Obtain statement of a/c, verify all the entries whether found in order.
2) Discuss with the Bank and try for One Time Settlement and close the a/c.
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