Legal Question in Civil Rights Law in India

i want an expert advice on the time limit under which can a bank can approach the court for the recovery of the amount used of the credit card.Can a bank,if the credit card used in the year June'2007 and after that no promise or confirmation of any type made by the user of the credit card to the bank, can approach the court for thy recovery after around 5 years. Can the holder of the card contest the case in the court in the case the claim is barred by limitation


Asked on 4/30/12, 11:04 pm

2 Answers from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

You may take the plea of limitation alongwith other defences, if any.

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Answered on 5/01/12, 1:37 am
Fca Prashant Chavan Expert Edge LLP

01.05.2012

Dear Sir / Madam,

These days the bank sells the credit card debt at a discount to collection agencies who pursue and recover the debt. It depends on the amount in question - but a debt is a debt. I alert you because in principal, you have availed of, benefited and utilized the credit card, so your liability for payment is established and valid. You are escaping, hoping and expecting that the bank will forget the recovery. Be prepared to receive an intimation letter any time for payment and settlement.

All banks are expected to maintain records for a minimum 8 year period, so anything can happen.

You can mail me for any on-line legal advice at [email protected]

Regards,

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Answered on 5/01/12, 10:35 am


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