Legal Question in Credit and Debt Law in India

I'm HSBC credit card defaulter with actual usage amount of Rs. 50000, which after non payment for two years they are claiming to be Rs. 119000. I have recieved a legal notice from Bank's advocates asking me to pay the above stated amount. I'm not in financial state to pay back this amount right now. for which they are claiming they will raise an 405,406 and 420 against me. Please suggest me what should I do. I'm very tensed.


Asked on 10/08/10, 10:32 pm

1 Answer from Attorneys
Vishwa Arya Arya & Co.

405, 406 or 420 is not made out for non payment of dues on credit card. it is a pressure tactic. claim has reached1...0 within how much period? You may challenge the claim on the ground of arbitrary interest

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Answered on 10/08/10, 10:37 pm


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