Legal Question in Credit and Debt Law in India

Dear Sir,

I had ICICI bank credit card with the max 40000 limits. I had used my card in 2008 for 35000 and i had paid 10000 in Dec 2008. Now with Interest its come to 70000. I had lost my job in India and I came to dubai and working here. Now the legal department called nad therented me that I will prosecuted if dont pay the money. I somehow arranged the money through my friend and when we went for settlement they are asking us to pay in full. Can I get reduction in interest and what would be the legal punishment on this case.


Asked on 2/23/11, 8:12 pm

1 Answer from Attorneys
Sanjay Kalra Sanjay Kalra & Associates

Pay the principal amount to the bank and request for waiving of interest.

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Answered on 2/25/11, 1:47 am


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