Legal Question in Credit and Debt Law in India

I am really perplexed at not being able to settle my credit card debt as well as personal loan dues fora long time. Could the new generation bankers sue me for the default and obtain a verdict against me from the local courts thereby meting out severe penalties and punishment if this condition is prolonged.? As such I am in a poor monetary state on account of a series of health problems which I find hard to manage for money shortage.Will any of the Adalats be of any help to me if the debtors choose the option of recovering in that way.?Hoping a viable solution in this /. Regards suku


Asked on 11/09/09, 4:46 am

4 Answers from Attorneys
AllFine Lexis Allfine Lexis law firm

The Credit card people wont go into courts so easily. They may be having some arbitration or conciliation proceeding going on, better go there and get it settled.

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Answered on 11/09/09, 5:46 am
Seshadri Srinivasan www.lawconcern.com

You seem to have answered your question yourself!

Most Banks nowadays first use Adalat process to recover from customers.

warm regards

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Answered on 11/09/09, 7:17 am
Seshadri Srinivasan www.lawconcern.com

Already adviced.

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Answered on 11/09/09, 7:37 am
KAMAL GROVER

I agree with Mr.Seshadri,

For more detail plz send documents.

Regards

[email protected]

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Answered on 11/10/09, 11:01 pm


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