Credit card and loans
Credit card and loans
Sir I have different types of credit cards and now am unable to pay the bill they all issued a lok Adalat notice what I do I really want to pay them but I don't have any money what I do am really anxi
2 months ago
A. Dear Client,
When a dispute or case is scheduled for hearing before a Lok Adalat, parties can settle through mutual understanding, either by using a deed of settlement if financially feasible or by engaging third parties like debt relief companies. These companies negotiate settlements with lenders on behalf of the borrower, who then makes payments to the debt settlement company, including service charges/fees.
Debt settlement involves the borrower repaying a portion of the loan balance, and ...ReadMore
money recovery suit
My father had borrowed rupees 50,000 for person A before 6 years. in 2021 Mr A threatened my parents and received a cheque of rupees 3 lakhs and bounced it and sent us notice for rupees 5 lakhs in 202
2 months ago
A. Dear Client,
If a person issues a cheque against a promise or any refundable money, and the cheque is dishonored for any reason upon presentation, the holder of the cheque can file a criminal suit against the drawer under Section 138 of the Negotiable Instruments Act, 1938. This must be done within three months from the date of presenting the cheque to the bank. A cheque signed and handed over by the drawer for a specific payment is presumed under Section 139 of the N.I. Act. The Supreme Court ...ReadMore
Personal Loan and Credit card Load
I have recently lost my job. I had taken a personal loan two years ago. I still pay my EMI on time but after two months, If I do not find a job, I will not be able to pay my EMI. I need your help rega
2 months ago
A. Dear Client,
Given the current circumstances, you have the option to file for bankruptcy. Under the Provincial Insolvency Act, 1920 (now replaced by the IBC Code 2016), bankruptcy can be filed if you are unable to repay a debt exceeding ₹500. The court will review the application, and its acceptance or rejection depends on meeting the specified conditions. Alternatively, you can consider negotiating a debt settlement independently, paying the entire outstanding amount in a lump sum, or engag ...ReadMore
Settlement of financial disputes
I have got credit card from RBL Bank with a limit of Rs. 35000. And petty loans of Rs. 75000, Rs. 45000 and Rs. 90000. I have also taken a home loan of Rs. 1600000 from HDFC. All the EMI's in a cumula
2 months ago
A. kindly let us know what is your monthly income and your other obligations also your current asset should be taken into consideration, otherwise your property will become a NPA and a bank will take a possession of your flat. you are require to reanalyze all your financial capabilities by which we can find the legal solution for it.
navi loans harrasment
How can i stop nbfc harrasment calling my contacts and not doing settlement
2 months ago
A. Dear Client,
When a borrower fails to repay a loan for three consecutive instalments, the bank declares it a bad loan/NPA, making the borrower personally liable. Negotiating with the bank for additional time is possible, but the obligation to repay remains. If a bank files a suit for recovery in a Civil Court, the court may order the attachment of collateral security for both the borrower and guarantor. Debt settlement, often handled by third parties, involves repaying a portion of the loan ba ...ReadMore
Not able to pay EMI
I took 20 lac of loan from the NBFC and I have other debt as well,now the situation arrive that where my liabilities are more than my salary and due to which I couldn't repay the EMI. What could be t
2 months ago
A. the feasible solution on this is that we can help you out to restructure your financial liabilities once you share the details of the loan of 20 lac and accordingly a feasible solution can be given.
Insolvancy
I am 28 years old, i have a debt of 45000 in unsecured loans and credit cards, my income is only 10000, am i eligible for insolvancy, how long the procedure will take
2 months ago
A. Dear client,
As per the Insolvency and Bankruptcy code, Individual Insolvency in India and Bankruptcy with a default amount of at least Rs. 1,000 are covered in Part III of the Code. If the conditions are satisfied, a debtor who is unable to pay their debt may apply for a fresh start and the discharge of their eligible debt to the adjudicating authority (AA), either directly or through a resolution professional (RP). You should produce the annual gross income, and total value of the debtors as ...ReadMore
Credit card settlement
Hello, I did a Hdfc credit card settlement in year 2021 in 4 installments. But bank didn't provide NOC. They didn't contact me for three years.but Now again in 2024 Hdfc has handed over my case to kot
2 months ago
A. Dear Client,
As per the Banking Companies(Preservation of Records) Rules, 1985, Bankk to preserve records of personal ledger, loans or advances registers, FD Interest registers not less than 8 years. Further, based on Information Technology Act, 2000, the retention of transactional records will be maintained by the Bank for a period of 10 years as per RBI Guidelines. So, you can retrieve the credit card settlement record of the year 2021 from the concerned Bank by making an application under Sec ...ReadMore
NPA
I have two accounts with bank one is home loan and another is cash credit loan .Unfortunately the cc loan account renewal has got delayed and this has turned NPA. Because of this my home loan account
2 months ago
A. Dear Client,
Both cash credit accounts and home loans are considered debt and once the repayment of a loan/debt against one account stops, it typically affects the other considering the financial stress and the poor CIBIL score of the Borrower treating the secured home loan as a stressed asset/NPA. The Bank initiates a routine course of action for recovery of the loan/debt from the borrower following the provision under the SARFAESI Act and the order of the Debt Recovery Tribunal directing the ...ReadMore
credit card and personal loan default
Sir i AM Unable to payment above dues due to low salary what is the process for filing insolvency can it be filed without lawyers help
2 months ago
A. If any one of the following three requirements is met, a person who is unable to pay their debts may file an insolvency petition:
1. Debts totalling over Rs. 500
2. The person is being held in custody or placed under arrest in order to carry out a money decree.
3. In carrying out the decree, there is an active order of attachment against his or her property.
A petition for insolvency is submitted to the district court that has jurisdiction over the debtor's place of residence or place of busine ...ReadMore
