Legal Question in Banking Law in India
I got a legal demand notice on behalf of ICICI bank to clear the dues of my credit card account which I could not pay in time due to my poor financial status. Is there any chance to settle that amount before they take Judicial action through court ?
If there is a chance pls suggest me the approach to be followed.
Asked on 10/29/10, 2:39 am
1 Answer from Attorneys
Rashmi Bhatia Sangare
Private Practise
Negotiate with the bank for a revised settlement amount and inform them of your financial inability to pay. They can reduce your interest and penalty.
Answered on 10/29/10, 3:23 am
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