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Sameer (Sales)     30 September 2014

Credit card problem

Dear Sir,

Need suggestion for credit card issues.

I was having outstanding dues in my 3 card for which i cant able to pay my amount on time. There is something technical problem happen in my company and because of this, i cant able to pay my credit card outstanding. I have not recd salary for last 5 months and it has also affect my family tension. What actions will be taken? if i want to do settlement after 5 months because right now i need to cover my salary and then i can pay my outstanding after 5 months. Please suggest



Learning

 2 Replies

Kumar Doab (FIN)     30 September 2014

The purpose of CC is only to use it in lieu of cash.

If you don’t have cash don’t use CC.

Each transaction on CC is debt.

By now the delinquency would have been reported to credit bureaus and penal charges would have been levied.

Settlement is also adverse entry.

Like you are trying to cover your salary make arrangement of funds and pay the debt, or you may not get loan in future.

The collection/recovery agents of the bank shall be chasing you.

 

The CC may be blocked anytime and permanently blocked.

Sudhir Kumar, Advocate (Advocate)     17 October 2014

civil suit can be filed on you by the bank after they fail in harassement.  It is a recentdebt.


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