Demand letter notice

Dee (Querist) 28 June 2015 This query is : Resolved
Dear Sir/Madam,
Today I got demand letter notice from an advocate for my credit card payment, due to poor financial situation I had stopped payment of credit card about 5 years ago, I had shifted to other city and suddenly today I gor thia demand letter
Even now I can't pay the due they mentioned that is 85000, I actually unable to pay even any part payment, like to ask you that what should I do next, & does demand letters are serious ?, I am getting worried, can they take further legal action or i just avoid it

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P. Venu (Expert) 29 June 2015
Yes, you are liable for legal action. Moreover, your credit worthiness is already impaired.

Rajendra K Goyal (Expert) 29 June 2015
If you have not paid or have not acknowledged the debt in last three years, the loan seem to be time barred. Consult local lawyer and proceed.

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