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Friend used credit card for buying mobile, now not paying back
17-Nov-2023 (In Banking / Finance Law)
One of my friend has used my credit card to bought a mobile on EMI basis, he paid some installments delayed for the that external charges are added by bank, now he is not paying installments since 4 months, debit interests, late fees and external interests got increased month by month, finally he is saying i will give 5000rs, take if you want otherwise do whatever you want, but his bill amount is more than 12000rs, right now i am helpless, please help me what is the solution for my problem, is there any legal action against him?
first, ask your friend to issue a cheque for Rs.12000/- or hand over the phone, so that you can sell the phone and recover the bill amount from the sale proceed and pay the same to the bank as early as possible
Helpful?
14+
14+
Adv. Neeraj N
Hyderabad | 100+ Answers
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Sorry there is no legal action can be taken against your friend but the finance company can take legal action against you for the due emi amounts so my advice to you is to collect the 5000 from your friend and you add the balance amount pay off all the amount and never do such type of transactions in feature because ur financial track will be affected more and u can't get loans in feature
Helpful?
11+
11+
Adv. Vara Prasad Deevi
Vijayawada | 25+ Answers
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