Legal Question in Credit and Debt Law in India

My credit Card issued by HSBC in 2002 had an overdue of about Rs.2,00,000=00 in 2004 which I was unable to pay. But till date there are no legal notice from the Bank. Only what I recieve arew threatening calls and a wooping claim of over Rs.14,00,000=00! I am totally broke and have no money to pay not even legal fees. What should I do ? Can Bank take any legal action agaionst me after so many years ?


Asked on 8/03/10, 10:21 pm

1 Answer from Attorneys
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

the bank s action is wholly arbitrary and you can wait for them to initiate legal action and then you can put your defence. in case you want, you may seek police protection against the recovery agents.

Read more
Answered on 8/04/10, 12:30 am


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in India