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credit card payment legal notice


14-Oct-2023 (In Banking / Finance Law)
Bank encouraged me to take loan of 171000 for investment but I lost my job as well as booked heavy loss in Financial business now I have no money to pay they sent me legal notice for recovery what reply I should send.
Answers (2)

Answer #1
570 votes
You will have to send a reply to the said legal notice in line with your credit card documents and bank policies. However, you shall send a reply to the legal notice at the very outset so that your submissions are on record from the very outset.
Answer #2
787 votes
Reply has to be sent but for that reading of their contentions is necessary. You may forward the copy of the legal notice and accordingly, the reply can be prepared and shall be shared with you.

This can be sorted at the initial stage before reaching the court

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