Legal Question in Credit and Debt Law in India

Credit card default

sir i had a credit card with hdfc bank for 18000 credit limit. but i did not pay the amout for last 4months and ystrdy i got call from legal dept hdfc bank to pay the amout of 33000 with interest and asking me to pay immeditaly. But i am not ina situation to pay it. i can pay only after 3 months as i lost my job. how to handle the situation. i am meeting them by tomorrow by afternoon. please suggest me how to handly the situation.


Asked on 6/15/09, 3:58 am

1 Answer from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Credit card default

You may have to meet your liability; however, you may negotiate with the Bank for payment in installments.

The Bank may be legally entitled to take hard steps for recovery of its dues; therefore, consider this as a serious issue.

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Answered on 6/15/09, 7:11 am


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