Legal Question in Banking Law in India

Credit Card

I Have a Credit Card, and i am using it from last 1 yr. and till date i was not even a late payer if my minimum amt due on my bill. But now i am nable to pay the total cr. card payment. what can i do to settle my total credit card due.


Asked on 9/19/07, 3:54 pm

3 Answers from Attorneys
J. Radhakrishnan independent Practice

Re: Credit Card

Hereafter don't use your credit card. write a letter to the credit card issuer seeking payment by instalments of the amount due. You will not however escape addition of hefty interest to the amount due from you. Stop credit card use for ever.

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Answered on 9/19/07, 9:54 pm

Re: Credit Card

Firstly stop using ctedit card and also return the same to the company.You can not escape from payment so pay the balance amount at earliest.

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Answered on 9/19/07, 10:12 pm
Homi Maratha N.N. Maratha & Co.-Advocates

Re: Credit Card

i would recommend you stop using credit card forever. request credit card issuer to pay the credit amount in instalments but you can not escape the payments which are due and liable to hefty interest as well

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Answered on 9/20/07, 1:29 am


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