Legal Question in Credit and Debt Law in India

i had a credit card payment dispute in the year 2002 for which the bank had not replied anything and after that there where no communication abt that for all these years .All of a sudden now they are asking to pay a huge money after 10 years what could be done


Asked on 3/20/12, 3:15 am

1 Answer from Attorneys
Santosh Dash Legal Consultant

In case there is no correspondence / acknowledgement of liability from your side, the debt is barred by limitation act and they cant do anything under law. Yes, they can place your name in cibil as a defaulter and you may face problem at the time of applying for any loan in future.

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Answered on 3/20/12, 3:28 am


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