Legal Question in Credit and Debt Law in India

Dear Sir

I have a Credit CArd from a bank,due to emergency resignation and some personal peoblems in my home i am unable to make the outstanding.Now it will be high amount with interest,it already passed 3 years,during this period i am not working anywhere,Now i have got a job in UAE,where i am staying here now,

my question is the bank is a multinational bank and have branch here,can this bank sue me here and if i going to India shall i caught in airport.

And what is the legal way to repay my outstanding with out interest and easy instalments.

Please advice me on this.


Asked on 6/07/11, 3:27 am

3 Answers from Attorneys
Arent Lievens Advocates Lievens & Lievens

If you do not get in touch with the Credit Card Bank in the UAE, they will not trace you.

You will also not be caught at the airport (if your debt is a civil debt, in other words that you did not commit a crime (eg. fraud).

But you will have to pay all the debt & interest. You might negotiate with your bank about this, to get them to reduce the interest. Depending on the sum & interest you might also consider taking out a loan with another bank, and repaying the debt completely, and so avoiding the high interest rates.

Read more
Answered on 6/07/11, 4:06 am
Sanjay Kalra Sanjay Kalra & Associates

You dont have to panic . If your intentions are true and you want to repay the oustanding amount then wait for the bank to approach you. You can negotiate about the amount without interest. no one is going to arrest you at the airport.

Read more
Answered on 6/07/11, 11:51 am
KarVai Legal Solutions Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in

i agree with Mr. Lievens

u need not to panic they will first send you notices regarding your payment till the time u are free once they send you some intimation you can negotiate.

Read more
Answered on 6/07/11, 10:59 pm


Related Questions & Answers

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