Legal Question in Credit and Debt Law in India
I had credit card in 2000 and my last payment to the bank was 2002. Can the bank recover the balance amount from now ie after 11 years. When the cause of action starts.
Asked on 4/17/13, 1:53 am
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
17.04.2013
Dear Sir / Madam,
If you have utilized the credit card and owe money to the bank, it hardly matters how many years have passed that you have not settled the dues on your card. You still remain liable to the bank to settle the dues on your credit card.
Regards,
Answered on 4/17/13, 5:56 am
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