Questions & Answers
Defaulting in Credit Cards payments due to delay or non payment of salaries
Hi Madam,
I have a credit card which I fully used it and due to delayed salaries for 3 to 4 months I couldn't pay on time.
And the bank is threatening me to pay the minimum amount otherwise they will file a legal case against me.
I am ready to pay when I get my salaries, and also I have some other financial commitments.
Is there any solution to get a reasonable time to settle the payment and to stop charging interest on the amount for this time?
Dear Questioner,
Please note that the bank has all the rights to present your security cheque since you made the default in the EMI. You may directly approach the bank and request for lesser EMI or settlement with discounts.
Apart from the above, the bank has all the right to hold your EoSB as well. I would recommend you to approach the bank directly for any way out and only they can provide you some relaxation against their own policies.
Thank You.
Regards,
Rajasree Ravivarma
