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Remedies for the legal notice of nonpayment of credit card debt
24-Jul-2023 (In Banking / Finance Law)
My son got a notice from bank for non payment of credit card he is 21. He used the card for 20,000 bank has made the amount 55,000 with interest. They sent a legal notice from a lawyer on email we never received anything in post my son met with an accident and is on bed rest so he is jobless and we can't pay the bank anything for 1 month atleast till he start job. Please advise
My son got a notice from bank for non payment of credit card he is 21. He used the card for 20,000 bank has made the amount 55,000 with interest. They sent a legal notice from a lawyer on email we never received anything in post my son met with an accident and is on bed rest so he is jobless and we can't pay the bank anything for 1 month atleast till he start job. Please advise, please contact me i will help u for the same.
Helpful?
22+
22+
Adv. Prateek Kohli
Delhi | 25+ Answers
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Very sorry to hear about your son's accident. I wish him a speedy recovery. The legal notice sent by email is valid in law. You can speak to the bank on behalf of your son, and try negotiate this amount. The interest charged on the outstanding credit card is very high and can go up to 36% to 42 % per annum. Speaking to the bank is the only solution. You should attempt to buy some time from them. If your intentions are honest the bank should agree.
Helpful?
14+
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Adv. Sanjay Maini
Delhi | 25+ Answers
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