Legal Question in Credit and Debt Law in India

I am hdfc credit card defaulter in 2006 of credit limit 14000. Now they demanding 140000. What should I do?


Asked on 5/04/16, 9:38 pm

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

05.05.2016

Dear Sir / Madam,

You should visit the Bank, ask for the Statement, check it, confirm correctness, negotiate, pay and settle with a no dues letter, and surrender cancel the card.

Regards,

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Answered on 5/04/16, 9:44 pm

1) Go for one time settlement and pay the dues if they agree.

2) Check the correctness of the transactions and interest, penalty etc.

3) U hv to pay otherwise the bank may proceed against ur other assets.

4) Settle with the bank and obtain No Due certificate. Card must have

already been hot listed.

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Answered on 5/05/16, 4:32 am


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