Credit Cards loan

Amit Oza (Querist) 11 April 2011 This query is : Resolved
i had taken a loan on credit card. from citi bank in 2007, Rs 200000. i was paying the instalments regulary but due to some financial condition i was unable to pay. its is now 2and half years that i have not paid .i was receving calls from recovery agents and some how i paid some amounts. .what action they can take against me. my dad has received a call from citibank that they are filing a 420 case aginst me and my dad. i want to knw what should i do .the loan taken was on my credit card

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Guest (Expert) 11 April 2011
SIR,
KINDLY NOTE THAT

1.YOU HAVE BORROWED LOAN FROM CITY BANK CREDIT CARD AND RECOVERY AGENTS ARE THREATENING YOU AND YOUR FATHER AND ALSO THREATENING YOU TO FILE A CRIMINAL CASE UNDER SEC.420.OF I.P.C.
2.YOU MAY KINDLY NOTE THAT BANK HAS TO FILE A CIVIL SUIT IN CIVIL COURT FOR RECOVERING THE SAID AMOUNT AND YOU MAY GET NOTICE FROM CIVIL COURT THROUGH COURT BALIF. YOU MAY ACCEPT THE SAME AND DEFEND YOUR MATTER IN CIVIL COURT.
3.KINDLY NOTE THAT BANK CAN NOT HARASS ANY OTHER FAMILY MEMBERS AS THEY ARE NOT PARTY TO THE SAID CREDIT CARD LOAN.
IN CASE ANY RECOVERY AGENTS ARE ABUSING AND THREATENING TO BEAT AND KILL YOU AND YOUR FAMILY MEMBERS YOU MAY FILE A POLICE COMPLAINT ABOUT SAME AND SEND A COPY TO THE DIST POLICE SUPDT AND REQUEST FOR LEGAL ACTION AGAINST THE SAID RECOVERY AGENTS AND SAID BANK.
4.YOU MAY KINDLY NOTE THAT IN CASE BANK FILES ANY CRIMINAL CASE AGAINST YOU ,THEN YOU MAY APPLY FOR ANTICIPATORY BAIL AND SUBMIT SURETY DOCUMENTS AS PER ANTICIPATORY BAIL ORDER OF SESSIONS COURT.
YOU MAY WRITE AND SEND DETAILS FOR ANY FURTHER HELP .GOOD LUCK.
WITH BEST REGARDS TO YOU YOUR FAMILY AND FRIENDS.
YOURS SINCERELY
NANDKUMAR B.SAWANT,ADVOCATE

Devajyoti Barman (Expert) 11 April 2011
The Bank can fle both cil suit like recovery of money or insolvency case and criminal case like cheating or cheque bounciing etc.
So it is better to negotiate with the bank and ask for a breather.

malipeddi jaggarao (Expert) 15 April 2011
Mr.Nanda Kumar is right. Bank can not file criminal case for recovery of its dues. The dues are recovrable by filing a case in civil court only. Your father is no way connected with the loan and he can serve legal notice claiming damages for harassment. But, as advised by Mr.Barman, try to settle the matter by requesting for one time settlement for waiver of portion of interest. Banks leash threats but they will not jump into action hastily.

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