Legal Question in Banking Law in India

Hi,

My father had a credit card which had a due of around 48000/- as on june 2016. My father passed away in the month of june and i don't have the money to pay his credit card bill and i haven't contacted the bank regarding this till now and i cannot pay it in the near future also as I get a salary of only rs 9000 pm which is just enough to run the house and nothing more. What is my best option here and what action can the bank take against me?? Please advise.


Asked on 10/30/16, 9:12 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

31.10.2016

Dear Sir / Madam,

Since the Bank can initiate legal proceedings for recovery of dues, paying off and settling your father's credit card dues to the Bank and obtaining a letter to that effect from the Bank is advisable and recommended.

Regards,

Read more
Answered on 10/31/16, 2:39 am


Related Questions & Answers

More Banking Law questions and answers in India