Legal Question in Credit and Debt Law in India

Hi,

I need some advice. I am based in India.

I had taken a personal loan and Credit card from HSBC. I regularly paid it for three years. But due to recession i had lost my job and was unable to pay it. This was in 2008.

For how may years my name will be in defaulter list?

Now i need a loan and cant get any help.

Many thanks,

Raymond


Asked on 9/11/15, 12:31 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

11.09.2015

Dear Raymond,

Your name will continue to appear in Credit Information Bureau India Limited (CIBIL) rating list (with no Bank giving you any loan) till you clear the prevailing personal loan and credit card dues.

Regards,

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Answered on 9/11/15, 6:05 am


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