credit card issue

Querist : Anonymous (Querist) 14 May 2010 This query is : Resolved
hi sir,

i lost my job.since past 4 months i am jobless.i got a kid and family.when i was earning every thing was fine.
since i lost my job i am unable to pay my credit card bils .
igot a call fro recovery people
and they said they will file case against me.i am not sure what am is upposed to do
please help me

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B K Raghavendra Rao (Expert) 14 May 2010
When you have borrowed, it is duty to repay the same irrespective of your financial health. If the lender files a suit for recovery of money from you, you have to face the same in court of law.

Normally, the court cases would not be over in short span of time. They take years and years to pass decree. You may have some time to breathe. Otherwise, you may compromise with the lender for payment of lesser amount as one time settlement if you can afford to it. As per your statement you are not in a position to repay any debt and the only option is to face the court case.

But do not worry, it is only a civil case and not a criminal case.

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credit card issue

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