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Hello Sir, My name Mayuri Chavan, I would like to seek your advise on my Kotak Credit card outstanding My credit card limit is INR4,00,000/- & I am paying minimum due amount from last six months this


A. Dear Client,
Under Indian laws, particularly the RBI guidelines on Fair Practices Code for Lenders, banks and their agents are required to follow a code of conduct and cannot harass customers. You have already taken the right step by informing the bank about your financial difficulties and requesting restructuring of your credit card outstanding. If the harassment continues despite your communication, you can file a complaint with the banking ombudsman under the Banking Ombudsman Scheme, 2006, o ...ReadMore

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I am facing a problem of not being able to repay my credit card dues. The bank has sent a legal notice. If they file a case, will any lawyer (Bengaluru, Karnataka) be prepared to defend me. I am 74 ye


A. Dear Client, I understand your concern about being unable to repay your credit card dues and the legal notice from the bank. Given your age and financial situation, here are some steps you can take:

1. Seek Free Legal Aid
Legal Services Authorities: In India, legal aid services are provided by the Legal Services Authorities Act, 1987. You can approach the Karnataka State Legal Services Authority or the Bengaluru District Legal Services Authority. They provide free legal assistance to those who ...ReadMore

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icon Loan

I have loan of 60 laks form different persons. I took for business. Now I am in loss . They are threatening me. Pls help me


A. Dear Client,
A borrower is held personally responsible for his debt. If it was an institutional loan, i.e, a loan from a Bank/NBFC, then a loan defaulter must face legal consequences from the lender. Since it is your private loan taken from the people without observing legal formalities, the consequences arising out of the recovery of said loan/debt solely depend upon the actions of the private lenders. Under the Provincial Insolvency Act, 1920 (which is now repealed as IBC Code 2016), you can a ...ReadMore

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icon My lien amount release but I didn't get the money

Hi Sir,I had some money in my bank of india account as lien.But today I got a text from my bank all my lien amount they debt by NEFT to another account like a beneficiary.But the problem is I don't un


A. Dear sir,
You have to check with concerned branch as to how your amount was transferred to other account without your consent and threaten to lodge a complaint for manipulating the accounts.

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icon Family pension

My husband was expired 3month back but Bank authority is extended my pension on account of personal loan due balance. Iam poor cant pay at a time. What to do please advaise me


A. Dear Client,
The Supreme Court has held that retirement benefits like pension and gratuity cannot be attached by authorities for recovery of dues. The proviso (g) of Section 60(1) of the CPC precluded the authorities from attaching retirement benefits to a person. The Telangana High Court in a recent ruling following the Supreme Court decision in Radhey Shyam Gupta v. Punjab National Bank (2009) held that the pension and gratuity amounts of a retired employee cannot be attached to the satisfacti ...ReadMore

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icon loan amount emi not paying

dear sir ,i have 10 lac loan amount from the difference banks credit card or personal loan and my monthly salary only 35k .but now i unable to pay that all EMI,So kindly give the solution.


A. Dear Client,
You can try to negotiate a settlement of your credit card dues with the Banks on your own if your pocket permits and the bank agrees, but sometimes it's typically done through third parties like debt relief companies, which you may hire to negotiate the settlement matter with the lender on your behalf. With this method, you will make payments to the debt settlement company rather than your creditors/lenders, along with a sum of service charges/ fees. Debt settlement is an agreement ...ReadMore

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icon Loan of mobiqwik amounting 1 and half lacs

Sir I'm having loan wanted to settlement @ 40% but the recovery agent harrasing threatening abusing as I'm going through lot of stress financial crises and mother open heart surgery expenses


A. Dear Client,
The lender cannot force you to make the payment in an unreasonable time frame. You can inform the lender about your financial situation and seek an extension in time, restructure of the repayment plan, or alternative methods for repayment. You can also offer offering to pay around 25% to 30% of the outstanding balance in exchange for forgiveness on the remaining amount. Further, The lender needs to adhere to the established procedure of debt recovery and is not allowed to resort to ...ReadMore

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icon Unable to pay debts

Hi All, I am currently having loans of around 60 Lakhs, in which 20 Lakhs are through my credit cards and Personal loans, 13 lakhs via loan on parental property and rest from 27 Lakhs from relatives


A. Dear Client,
Firstly, you need to contact the concerned bank manager or loan recovery agent and inform them about your financial situation. Further, you can ask for an extension in time for the payment, restructure of the repayment plan, or alternative methods for repayment. You can also offer to pay around 25% to 30% of the outstanding balance in exchange for forgiveness on the remaining amount. The officers will be able to assist you and provide you with the necessary alternatives. If required ...ReadMore

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icon Loan issue

I have take loans from icici hdfc navi and kredit bee... Now my emi are going above my salary I am not able to pay emi which is continuously bouncing so in a very pathetic situation


A. Dear Client,
Firstly, you need to contact the concerned bank manager or loan recovery agent, inform them about your financial situation, and negotiate the settlement amount with the manager. Further, you can ask for an extension in time for the payment, restructure of the repayment plan, or alternative methods for repayment. You can also offer to pay around 25% to 30% of the outstanding balance in exchange for forgiveness on the remaining amount. The officers will be able to assist you and provi ...ReadMore

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icon Regarding EMIs unable to pay

As I lost Job and sales are not happening what can I do as I am unable to pay EMI's


A. Dear Client,
A borrower is held liable personally for his or her debt for non-payment of the outstanding amount of the loan. Once the repayment of the loan stops or bounces for consecutive 3 installments, the Bank initiates a routine course of action for recovery of the loan from the borrower marking the loan as a bad loan/NPA. You can try to negotiate a debt settlement on your own if your pocket permits, but sometimes it's typically done through third parties like debt relief companies, which ...ReadMore

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