Legal Question in Credit and Debt Law in India

Hi, I got a call from ICICI bank asking me to repay the due of Rs. 17,000 balance in my credit card including interest. The last payment was in 2002. After that, there has been no communication. It is 2016 now. Please let me know if the bank can recover the due amount after so many years and whom to complain about this if the agent calls again.

Asked on 6/15/16, 3:34 am

Fca Prashant Chavan Expert Edge LLP

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15.06.2016

Dear Sir / Madam,

Yes, if you owe the Bank the money, they can still recover it from you, But you should visit the Branch and sort out the matter in writing.

Regards,

Answered on 6/15/16, 3:48 am

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1) Take statement of a/c and verify all the entries are correct.

2) Find out whether the debit is time-barred by limitation. Have u given

any black letter of ack of debt or 3 years from the last credit.

3) If time barred u can challenge. Else pay after discussing with the bank.

Answered on 6/15/16, 4:40 am

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