Legal Question in Banking Law in India

Please be informed that I am a retired person, having no income and job. My age is 63. Due to unexpected recession I lost my job about 5 years back. Now living with very much hardships in my life. Even after my unexpected loss of job I was regularly paying amount for Barclay Card as long as I was having some savings but after that I could not pay anything. Now a letter has been sent to me on behalf of phoenix through a Retd. Distt. & Sessions Judge with a e-stamp copy and documents. Please let me know what will happen. I am mentally disturbed and unable to make any payment to bank. I am unable to understand when a person hold the post of President of India at the age of Senior Citizen, when a Prime Minister and other ministers are holding govt. posts but for livelihood every where they are saying once a person become Sr. Citizen he is not allowed to work as per govt. orders. I also tried to get a job but of no use as every where they are saying that I have become Senior Citizen and the Government has restricted, hence it is not possible for them. Due to this I am not able to earn money and not able to pay for my debt. Kindly advise with your valuable information. Thanks


Asked on 3/18/14, 7:18 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

19.03.2014

Dear Sir / Madam,

Today is Chatrapati Shivaji Maharaj Jayanti !!

There is no such restriction on your taking up a consultancy or voluntary job or for that matter being self employed or even starting your own business with your own limited funds and resources. You will have to earn your livelihood as well as keep repaying a portion of your earnings towards your Barclays Bank Card settlement.

Regards,

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Answered on 3/18/14, 7:24 pm


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