Hello,
I defaulted on my credit card in 2010 June.The closure of my business made it impossible for me to honour the payments. I do not know if any written demand for payment was send by the Bank to me as the offices were closed since and perhaps messages returned. However till the operation of the business monthly statements were received at the office address.
What are the legal implications of this default and will I be forced to pay or hauled through legal procedures?
Is there a limitation of time involved here?
Anil
