Legal Question in Credit and Debt Law in India

Sir, I was issued a credit card by HDFC bank and i have not paid the minimum amount since oct 2012, due to loss of job. Now i am still under financial debt. Also i had taken personal loan of two lacs from another bank. Can i settle the case through lok adalat and reduce the amount to bare minimum. The banks agents are harassing my parents( aged) while i am away from home.

please advice.

sanjay


Asked on 12/22/12, 3:19 am

2 Answers from Attorneys

As per law they can not harass ur parents they can file case against u for more detail u can contact with m.

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Answered on 12/22/12, 6:05 am
Somnath mukherjee

i think that it is the better option..

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Answered on 12/22/12, 8:17 am


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