Legal Question in Credit and Debt Law in India

I am really perplexed at not being able to settle my credit card debt as well as personal loan dues fora long time. Could the new generation bankers sue me for the default and obtain a verdict against me from the local courts thereby meting out severe penalties and punishment if this condition is prolonged.? As such I am in a poor monetary state on account of a series of health problems which I find hard to manage for money shortage.Will any of the Adalats be of any help to me if the debtors choose the option of recovering in that way.?Hoping a viable solution in this /. Regards suku

Asked on 11/09/09, 4:46 am

4 Answers from Attorneys

AllFine Lexis Allfine Lexis law firm
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The Credit card people wont go into courts so easily. They may be having some arbitration or conciliation proceeding going on, better go there and get it settled.

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11/09/09, 5:46 am
Seshadri Srinivasan www.lawconcern.com
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You seem to have answered your question yourself!

Most Banks nowadays first use Adalat process to recover from customers.

warm regards

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11/09/09, 7:17 am
Seshadri Srinivasan www.lawconcern.com
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Already adviced.

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11/09/09, 7:37 am
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I agree with Mr.Seshadri,

For more detail plz send documents.

Regards

adv.kamal.grover@gmail.com

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11/10/09, 11:01 pm

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