Legal Question in Credit and Debt Law in India

I have used few credit cards almost 4-5 years earlier and 2 personal loan. Total amount to be paid would be around 3.5 lac. For all these years, due to recession and tremendous financial crunch, I was not able to repay my dues. But now for past 2 years I have a steady income and I am confident to repay. But I can not repay entire amount in one shot. All banks are aksing me to pay in one shot. I requested them to give me a new lone and would be happy to repay in EMI. But just because my name is on CIBILI, no bank is ready to give me lobe. What are my options? I do not have any gold or land to sell. Please help me.


Asked on 4/26/11, 6:14 am

1 Answer from Attorneys
Bennet Master of Law Bennet Raj Law Office

You have no legal solution. Your question [i.e. demanding new loan] itself pathetic

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Answered on 4/26/11, 9:27 am


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