Emi and credit card payments overdue unable to opay
4 years ago
I have taken loans from different bank, and have credit card dues, i managed to pay the emis and credit card dues, but it got more and more by time, now i can't manage all emi and credit card bills, credit cards are now overdue and banks are sending notice, emi are pending, to match up this i have borrowed money from friends and relatives they are also taking follow up and return money them due to which i m unable to manage pay anything, now my condition is worst, i took loan and invested in share market unfortunately it all went in loss and now i am helpless, i m not running from making payment but i can't manage all in my income, how i should respond to bank notice, they threten mi will take you to court, leagel proceeding and all, they are threatening mi indirectly
Md Shafiuddin Yakub Ali
Responded 4 years ago
No need to worry. Just inform to the banks that your properties or income do not meet to clear the dues in time. First of all banks have to see your income and number of credit cards then only they can issue their bank credit card. If the banks do not agree then file insolvency suit by taking the help of the local advocate.
Rameshwar Dadhe
Responded 4 years ago
Shreyash Mohta
Responded 4 years ago
Else they will put charges against you and have the complete right to sue you in court.
Thanks