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

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.

Read more
Answered on 11/09/09, 5:46 am

Seshadri Srinivasan

You seem to have answered your question yourself!

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

warm regards

Read more
Answered on 11/09/09, 7:17 am
Seshadri Srinivasan

Already adviced.

Read more
Answered on 11/09/09, 7:37 am

I agree with Mr.Seshadri,

For more detail plz send documents.


[email protected]

Read more
Answered on 11/10/09, 11:01 pm

Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in India