Legal Question in Banking Law in India

Re: Credit card default: Time limit on civil suit

The time limit as per the Limitation Act,1963 to enforce by way of suit in a court of law is three years from the date of your indebtedness and from the date when it was payable by you. The CC company cannot enforce the claim after the expiry of the said period.

Re: Credit card default: Time limit on civil suit

the time limit for filing the case of recovery is 3 years from the date of cause of action but in your case it seems that you still have the account so company can recover thye ammount of the period which falls within time limit.

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thanks.

siddharth

Re: Credit card default: Time limit on civil suit

Limitation act provides for limitation for claiming amount - as three years from the date of last admitted transaction.

Re: Credit card default: Time limit on civil suit

The time limit for civil suit in such kind of cases is Three Years.