Legal Question in Credit and Debt Law in India

What steps can one take legally if he/she is unable to pay the credit card dues.

I am facing a situation where I am unable to pay every monthly installment of rs5000 due to tight financial condition and of that amount bank deducts major goes into interest component.

Can you legal advice/steps will you suggest if any to tide over this situation. Or get an interest rate moratorium

Regards

Neel


Asked on 6/10/11, 8:29 am

2 Answers from Attorneys
Sanjay Kalra Sanjay Kalra & Associates

Settle it with bank alone by explaining your financial condition.

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Answered on 6/10/11, 2:31 pm
Professor SOMNATH MUKHERJEE MUKHERJEE ASSOCIATES(Cell +91 9874753359/ 9477781578)

IT IS BETTER IF SETTLED WITH IN THE BANK IF NOT POSSIBLE GO TO BANKING OMBURDSMAN

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Answered on 6/11/11, 1:44 am


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