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Not able to pay Credit Card outstanding


11-Jul-2025 (In Recovery Law)
I am to able to pay credit card outstanding of axis bank. due I have a big loss in share market,, Bank has NPA my account and send me Recall Notice. Please advice me what reply has to send to bank , as I have no funds to clear card outstanding, even no money for one time settlement, Also does not have stable sufficient income to pay loans
Answers (3)

Answer #1
730 votes
At first you have to reply to the notice stating the circumstances and further answer to other matters therein. Then, we can approach the bank/court to start a settlement process for you. It's advisable to provide more details to assist you.
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Advocate Ishan Parashar

Adv. Ishan Parashar

LawRato Delhi | 200+ Answers
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Answer #2
768 votes
Thank you for your query. Given your current financial hardship and the Recall Notice issued by the bank, you may formally respond to the bank expressing your inability to pay due to genuine losses in the stock market and lack of stable income. In your reply, respectfully request the bank to consider restructuring your debt under a more feasible repayment schedule instead of one-time settlement. Also mention your willingness to cooperate and request a temporary moratorium or minimum EMI until your financial condition improves. Avoid ignoring the recall notice as it may lead to legal proceedings under recovery laws.
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Advocate Adarsh Kumar

Adv. Adarsh Kumar

LawRatoDelhi | 400+ Answers
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Answer #3
940 votes
I am Advocate Sumit Yadav, and we are a team of 10 advocates operating across India. To assist you effectively and guide you toward the appropriate legal remedies, I would need more information regarding your case. Kindly share the relevant details at your earliest convenience. Hope to hear from you soon.
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Advocate Sumit Yadav

Adv. Sumit Yadav

LawRatoDelhi | 50+ Answers
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