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Personal Loan and credit card trap


29-May-2024 (In Recovery Law)
Took a 35 lakh personal loan which is in stages of settlement , bank also issued 3 credit cards amounting 28 lakhs , but credit cards were issued just via phone without my signatures anywhere . Total debt of 65 lakhs . After PL settlement I will be left with no money to settle credit cards . They took blank cheque at time of P.L . They gave me 65 lakhs on basis of my salary of 1.5 lakhs per month ( beyond my credit worthiness ) . Bank already notified 1 credit card in NESL DEFAULTER LIST.
Answers (4)

Answer #1
596 votes
It's advisable for you to first of all rather than going legally you should serve them a legal notice and in that notice you can write either stop all these harassment or face legal action which will be at your own risk. After that if they fails to give you a satisfactory reply then you can anytime send a complaint regarding your grievances in writing to the police station according to your jurisdiction.
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Advocate Jitender Singh

Adv. Jitender Singh

LawRato Delhi | 1000+ Answers
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Answer #2
559 votes
You can settle the amount with the bank for credit card dues as well. Even if you have not signed any documents but have accepted the service of any bank for credits then it is admissible in eyes of law for recovery. However the terms would not be applicable for the mode of recovery and thus you can negotiate with bank for the settlement. For better advice feel free to contact Thanks
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Advocate Bhawana Pandey

Adv. Bhawana Pandey

LawRatoDelhi | 1000+ Answers
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Answer #3
734 votes
I can help you while settling the credit card and loan account. and can be done in the amount you are going to pay for a loan account. call for any further assistance and anything you want legally in regards to the above said subject or
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Advocate Akhilesh Kamle

Adv. Akhilesh Kamle

LawRatoDelhi | 50+ Answers
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Answer #4
765 votes
Cheque bounce is a punishable offence and using credit card itself is a consent do these lame excuses won’t work It’s better you hire expert advocate n get yourself prepared for litigations n settlements Thanks
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Advocate D. Khan

Adv. D. Khan

LawRatoDelhi | 1000+ Answers
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