Legal Question in Aviation Law in India

i have 20 lac of debt in various banks and i am retiring this year. i cannot pay for my loans and credit cards hereafter.i was paying my bills promptly till now and never been a defaulter.i want to go for a settlement with banks,but my request is rejected because i am not a defaulter.what can i do to talk to banks for a settlement as am insufficient to pay my deb fully.i want some discount to waive off the can i proceed?when i contacted lok adalat they say the same.when i am not a defaulter they cannot do anything.and when i called the customer care of the banks they also say the same.pls help me.

Asked on 11/11/09, 7:13 am

1 Answer from Attorneys

Seshadri Srinivasan

You have to issue a lawyer notice to all the Banks with your proposed repayment plan and benefits you are entitled to under law.

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Answered on 11/11/09, 7:28 pm

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