Legal Question in Bankruptcy in India

I had a Credit card in the year of 2006/07, and my credit limit was 17000/-, however i had used the same and due to some reason i didnt payback and was not in my town, now all of sudden some finance team called and asked for money and i have told them i shall pay my principle amount, but they asking me to pay 27000/- and they'll issue a NOC... however, is it a problem if i say them i'll pay only next month (SInce i can bear full amount now) and only principle amount? and what if i dont pay? is there legal way to arrest me or drw a case against me and what r the outcome? ..

Asked on 12/20/12, 5:34 am

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they can file civil suit for recovery

Answered on 12/20/12, 5:36 am

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