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TAMAL ROY CHOWDHARY (nil)     25 May 2018

Credit card debt & limitation for recovery

There was an credit card due of Rs. 250000 which after interest and all they have taken it to above 8 lakhs on which I am unable to clear as there was an huge lose i my busniess and from past 2.5 year I am doing an small job of Rs.15000 from which I have to pay rent, electricity, grocery, school fees and all other expences and some how managing to run a family of 4 members. Last payment was made to the card company was on may 2016 after that no payment was made and they have written off the same and no further comunication are been made but every month there is an email coming in my email address to pay the due amount and on the same its clearly mentioned that my last payment was made on may 2016 so I wanted to know will now many years more they can claim the same as I don't think I will be able to make any payment till next few years due to my present condition. What can happen and what is the limitation for the same.



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 2 Replies

Adv Deepak Joshi +917017821512 (Advocate)     25 May 2018

The limitation period is three month from the date of due, if you have taken debt then you should repay, bank can use legal means to claim there money from you, if still you cannot pay bank will file civil suit and downgrade your CIBIL rating.

Kumar Doab (FIN)     05 June 2018


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