Legal Question in Credit and Debt Law in India

Credit card default done by me for SBI credit card. Lok adalat notice received. but in lok adalat matter not resolved or negotiated.

Now sbi planing for going to civil / criminal court. Debit is for 212000/- i want to settle it by 35000/- as my financial condition is very weak. What next can i get arrest warrent? iam not in the position to appoint lawyer.


Asked on 12/14/15, 10:46 pm

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

15.12.2015

Dear Sir / Madam,

First negotiate the final settlement amount owed by you to State Bank of India and freeze it with your payment of Rs. 35,000/- So say if your mutual negotiation with SBI is for Rs, 1,25,000/- please convert the balance repayment in EMI's (Equated Monthly Installments) spread over a period of two years.

Regards,

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Answered on 12/15/15, 1:28 am


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