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Procedure in case bank not cooperating for non payment of amount


30-Sep-2023 (In Banking / Finance Law)
Hello sir, i am sandeep saxena from indore, due to lost of my job in last november, i was unable to pay my credit card payment full payment, although i always made their minimum due amount, but due to some delay or other reason bank added delay panelty hence my outstanding increased by 2.50 lacs while my actual expences against the card is only 1 .25 lacs only, now the bank people continuesly call me and misbehaving with me, i already visited bank and show explained them my problem, now i also vot new job, but they continuesly threaten and send their executive to my house and also misbehaving with my old paraents and my wife and asking the address of my new employer and want to discuss with my new employer regarding my outstanding. I am in depression now coz i thought that when my new employer know about my outstanding of credit card, he may be terminate me again. I already told them i need some more time to pay your outstanding and made a payment of 76000 but my outstanding is same.
Answers (2)

Answer #1
784 votes
Bank officer can not give you threat irrespective of their amount is pending with you. They can opt for legal procedure but can not give you & your family any threat. . .
Answer #2
804 votes
In your case you have basically two options:-
1. Either pay the whole amount in one go. Or,
You can request your bank to convert the entire amount into EMI's (This will depend on various factors such as Type of banks, Status of your account etc.)
2. Some banks hold conciliation camps for their defaulters. Whenever you receive the notice you can participate in the conciliation.

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