credit card defaults what bank action

Querist : Anonymous (Querist) 31 March 2011 This query is : Resolved
dear sir,
i have a credit card of Hdfc bank. bank gave me personal loan on my card on behalf of my saving a/c. i m paying my emis from two years. but unfortunatly i cant pay emis from 4 months. then i m not staying that place,giving address in a/c. i m not give any document or bank cheques in bank. but i give my PAN no. in bank. plz tell me what action can take by Bank and what should i can.
if i collect some money i m pay whole amount to bank. but what i can till then.
plz give me ur answer.

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M.Sheik Mohammed Ali (Expert) 31 March 2011
very simple if your are ready to give balance amount or due's, you just send the notice to the bank inform your situation of financial and willingness also, they will cooperative with you.

Devajyoti Barman (Expert) 31 March 2011
The Bank can take both civil and criminal action against you. So it is better to make a settlement with bank for such amount which you are capable to repay

Advocate. Arunagiri (Expert) 31 March 2011
If you are ready for settling the loan, talk with the bank, the will give you a good offer.

My opinion is that the bank can initiate civil case only.

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