Reg Credit Card Due and arbitration process
2 years ago
Hi,
I have used the Credit card for Rs.60,000/-. I have paid half amount . And not made the balance EMI payment for last 7 months. They now came and ask to pay Rs.1,05,000/-. They Invited for the arbiration and consideration and in that i asked for settlement of Rs.30,000/-. But they did not accepting and ask to pay 55,000/-.
After they told they will take this legally if you not accepting this settlement amount.
Can you tell what is the step by step process after this and what can i do now.
A.They might send a legal notice followed by money suit to recover the due amount form you. They will file a case in civil court for money suit and send summon to you for appearance and then you will have to fight the case in court.
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