Legal Question in Credit and Debt Law in India

Credit card repayment

I had taken a loan on my credit card and made late payments 3-4 times, due to which I had to pay the instalment+late fees. However, last month, the bank preclosed the loan stating that numerous late payments result in automatic preclosure and blocking of the credit card. I am now being harassed on phone to pay the full loan at one go. I had asked for the terms and conditions document, but not received yet. What do I do?


Asked on 1/17/09, 7:48 am

2 Answers from Attorneys

Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: Credit card repayment

You may insist upon a copy of the terms and conditions; and re-negotiate with the bank.

If the bank is violating terms and conditions agreed by you, you may approach the consumer court.

If you are at fault, you should make arrangements for payment.

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Answered on 1/17/09, 9:33 am
Prof.Somnath Mukherjee s.mukherjee associates,09874053359

Re: Credit card repayment

It is duty of the bank to give you the copy of the agreement. After receivig the same if you think that the bank violate the terms you can go to consumer court for enforcing the same.

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Answered on 1/17/09, 1:12 pm


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