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What to do i am not able to pay credit card dues
22-Jun-2023 (In Banking / Finance Law)
Greetings All I am unable to pay my credit card and personal loans as i lost my job and left with no salary till time I paid all EMIs but now it is very difficult or say impissible as I am single parent to three daughters and already have lot of burden of their expenses i dont have any other source of income I am legally not divorced but seperated from my husband and he pays nothing for expenses I have IT file return under my in laws i have no knowledge about it. Please help me i want to settle the loans i took and a blunder I did is i took other loans to repay loans i now have nearly 6 lacs to repay. Please help
Hi,
If you want to settle the total amount , please consult the consent bank manager or credit manager of the bank. credit card, personal loans charges and interest rates are high compared to other loans. If you delay the repayment of emi's, fines are very high. So better to negotiate with branch manager and explain your situation in pleasing manner for one time settlement. (If you have amount to repay).
You are not mentioned about your husband occupation,salary and assets.
He has the more responsible than you on your children. He is also liable for this loans because he was not divorced.
Please mail or call me for better advice and legal solution. Have a nice day.good luck
If you want to settle the total amount , please consult the consent bank manager or credit manager of the bank. credit card, personal loans charges and interest rates are high compared to other loans. If you delay the repayment of emi's, fines are very high. So better to negotiate with branch manager and explain your situation in pleasing manner for one time settlement. (If you have amount to repay).
You are not mentioned about your husband occupation,salary and assets.
He has the more responsible than you on your children. He is also liable for this loans because he was not divorced.
Please mail or call me for better advice and legal solution. Have a nice day.good luck
Helpful?
Adv. Syam Charan Godi
Hyderabad | 100+ Answers
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As you're saying you cannot pay the loans taken and for that the particular financial institutions will defiantly send notices to you, here after you just reply them by explaining same with a good advocate then it will adversely affect on your husband then he will come to the point.
Helpful?
Adv. Sharath Chandra Murthy
Hyderabad | 100+ Answers
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No need to worry. Credit cards are unsecured loans and bank cannot force or harass you for payments.
One simple solution is to settle the issue with the banks by closing the accounts and cards.
Otherwise it is not possible for the banks to recover the money.
It can be in the bad debts column of banks ( credit card companies) .
Police will never help the bankers ( Credit card company)
Keep cool, keep relaxed.
One simple solution is to settle the issue with the banks by closing the accounts and cards.
Otherwise it is not possible for the banks to recover the money.
It can be in the bad debts column of banks ( credit card companies) .
Police will never help the bankers ( Credit card company)
Keep cool, keep relaxed.
Helpful?
Adv. Syed Hashim Adil
Hyderabad | 25+ Answers
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Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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