Legal Question in Credit and Debt Law in India

i am holding a credit card which has limit of 2 lakhs i have this card for past 6 years. i use to pay the due every month regularly. but from the month of august due to the critical problems i face in my bussiness i am not able to pay my due and the credit limit due to intrest etc has now crossed Rs 2,18,000.since i live seperated from my husband i dont have anyone else to support financially.i need another 6-7 months time so that i can arrange and settle down the credit and also to close down this card once for all.is there any way out to get this require time.i have spoken to the bank already but they are not ready to give time.i request you to guide me in this issue.


Asked on 11/06/12, 12:15 am

1 Answer from Attorneys
Sanjay Kalra Sanjay Kalra & Associates

You are aware of your financial condition while useing your credit card, then how come your balance has rose to 2,18,000 /- . You should go according to your own status but anyway now what you have done cannot be undone by talking as the bank needs its money. Try to resolve the dispute amicably with the bank. Please check Sanjay Kalra and Associates on the internet to know more about our law firm and the legal services we are rendering for our clients from all over the World.

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Answered on 11/06/12, 12:31 am


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