Credit card debt
Samimbadsah Shaikh
(Querist) 10 December 2015
This query is : Resolved
Hello,
I am credit card holder of HDFC bank and its current due amount is 70000. Card is suspended because i did not paid since july 2015 because i lose my job in dubai, Now after canceling my visa from dubai employer i came to india and jobless. Now after several attempt of bank to recovery they file a case in lok adalat. My parents got notice from lok adalat to appear me in court.
10 days ago i came to dubai to find a new job and get last salary from my old company. I am ready to pay due amount as i am not intentional defaulter. But now bank is forcing me to appear in lok adalat and clear dues. Now i am not in position to pay single money. i can clear after 2 month.
So suggest what i can do now to make understand my parent as my mother is blood pressure patient and worried to much about police to come in my home.
Please any one help me with any suggestion.
SAINATH DEVALLA
(Expert) 10 December 2015
Cases are filed in Lok Adalat are filed for mutal settlements hence need not panic.These are not criminal courts but people's courts.Hence appearing is suggested.
Kumar Doab
(Expert) 10 December 2015
Is it a special Lok Adalat or Permanent Lok Adalat?
While you are willing to pay, then your or thru your representative clear the matter.
However the delinquency should have been reported in CIBIL by now and also any settlement shall be adverse entry in CIBIL.
Better engage a lawyer and do settlement in such a manner that your credit history is cleansed and there is no impact on your credit score.
Avoid borrowing in future if you can't pay.
Rest is upto you.
Rajendra K Goyal
(Expert) 10 December 2015
Your representative may appear before the Lok Adalat and represent. The representative can mention that settled amount would be cleared in 2-3 months.
