Credit card payment recovery
atul mehta
(Querist) 18 February 2012
This query is : Resolved
I had credit card from kotak bank,due to financial hardships did not pay since last 10 months.
Amount Rs. 70,000/ six months back I had issued a cheque for Rs.10,000/ which bounced so they filed case under section 138 which is still pending then they also filed arbitration proceeding in mumbai which I did not take care after they got the arbtration proceeding in their favour they filed a suit in ahmedabad local court which again I did not bother now suddenly they came with police and a court order to my house to lift all movables from the house or pay Rs.85,000/ with cost. Before the court order they were ready to settle the same case at Rs.20000/.
Now I have issued rs.85,000/ cheque to them to safe guard my honour in the neighborhood.
Please advise me what now I should do as I do not have money to clear the cheque issued.
Thanking you with all respect and regards.
ajay sethi
(Expert) 18 February 2012
YOU HAVE JUMPED FROM FRYING PAN INTO FIRE .
why did you issue cheque of rs 85,000 when you did not have nay funds in your account?
if cheque is dishonoured they will file another cheque bouncing case against you .
the mistake you made was you neglected arbitration proceedings /cheque bouncing case .
based on arbitartion award they must have sought to execute the order and hence attachment of your moveables properties .
contact a local lawyer . if you are unable to pay your debts declare yourself an insolvent
Advocate Rajkumarlaxman
(Expert) 18 February 2012
contest the case and show that the debt was no so much and try to settle down by compromising to certain amount.
Sankaranarayanan
(Expert) 18 February 2012
your activities are further added fuel to your problem. so better to find a good lawyer and get advise and follow accordingly
