Legal Question in Credit and Debt Law in India

Hi!

I am Using 3 credit cards. I am not able to pay now. The total payment pending for all 3 cards are going high around 3.7 lacs. May i go Legally for settlement. If i gone whether i m put in CIBIL or not let me advice please. One of the card in which i am having my salary account. I am afraid that my salary may blecked. Please do advice. Some of my friends telling me without putting me in CIBIL they will make us settlement. Please advice.


Asked on 10/21/10, 12:42 am

2 Answers from Attorneys
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

for attaching the salary, the bank has to file a civil suit for recovery. once the suit is filed, you may ask the matter to be listed before mediation and settle the matter there.

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Answered on 10/21/10, 1:26 am
Rashmi Bhatia Sangare Private Practise

The Bank may have already referred your name under CIBIL. The credit card account where your salary bank account is connected may be able to deduct the O/s amount from your salary. Please negotiate with the banks for one time settlement or revising your payment options with less interest.

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Answered on 10/24/10, 1:59 am


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