LCI Learning
Master the Art of Contract Drafting & Corporate Legal Work with Adv Navodit Mehra. Register Now!

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

raj (self)     18 April 2014

Limitaion period for credit card payment

Dear experts,

I am having credit cards of different banks, which were issued in 2006/7, from Jan2009 onwards i haven't made any payments due to heavy loss.I never received any statement or notice, as i left that place, without any intimation. After 5 years banks agents came and harassing me &my family.I don't have any income to pay.

Pls let me know the limitation act will help me in this regard.Bank people telling that act is not applicable.

To whom i have to contact in this regard.Pls suggest best way to come out of this mess.Now i am not in a position to settle the amount

Pls advise

Thanks in advance

 



 3 Replies

Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 )     18 April 2014

Submit your grievances to banking ombudsmen with all details. They will try to settle the matter at instant.

Kumar Doab (FIN)     18 April 2014

3 Years.

In other threads initiated by you the member/expert has advised you to file for  

bankruptcy.

raj (self)     19 April 2014

Thanks, is there any difference between bankruptcy and insolvency petition


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register