What is the Limititation act in debt recovery?
What if the Bank itself keeps on sending onesided monthly credit card statement or keeps on sending demand notice then what is the position of law of limitation? & debtor don't acknowledge anything in 3 years(no written communition by debtor,only verbal talks)
They have sent me few demand notices through post 2 years back. Is acknowledgement by the debtor is also required or just demand notice or onesided monthly bills consider as renewal of limitation period.