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yateesh   05 November 2015

Credid card defaulter

Hi All,

customer is not paid some amount past 5 years for the creditcard now the Bank people asking to pay the bal with intrestet .

Q. if the bank ask the customer to pay the prinociple amount with intrest how the customer react on this ?

Q2. if the customer agreed to pay only settlement amount 50% or leass , is there any option to cutomer to ask the bank people to provide the lesser amount to pay
?

Q3. if alreay its been paid almost 5 years , is there any credit card if not paid from so many years
is that bank has the authorty to ask the customer to pay for the outstanding amonunt ?

 

 



Learning

 2 Replies

G.L.N. Prasad (Retired employee.)     06 November 2015

Every responsible citizen has a duty to pay off the dues of any Public sector/private sector Bank, as the amount belongs to Public.

Your name should have by this time branded as default with every financial institutiojn in India, making it difficult for your to approach for finance.

To-day or tomorrow, you have to completly pay the amount and before the Bank takes furrther action, as a responsible citizen, explain your difficulty if any , fully pay mutually agreed amount.

SAINATH DEVALLA (LEGAL CONSULTANT)     10 November 2015

Dear Querist,

Are U the customer or a law student?


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