Legal Question in Credit and Debt Law in

My friend is having a SBI credit card since year 2000. he has utilised maximim limit of Rs 25000/- in year 2000. Due to bad finalcial sutuation, he has not paid a single rupee till today and the amount has piled up to Rs 270000/-. Bank has sent him a notice saying thay would sue me. Can the bank do settlement with him or should he get the settlement done in court?


Asked on 11/27/10, 2:40 am

1 Answer from Attorneys
Chandrawat, Call- +91-8109444689 Litigation Expert & Legal Advisor ([email protected])

Yes, In both the cases you can go for settlement.

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Answered on 11/27/10, 4:34 am


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