Limitation period for raising a credit card case by the bank

Question

Q: I missed my bank credit card payment for the last two months. How long will the bank wait before taking any legal action? They do not have a security cheque from me… A: The bank can file a civil recovery case against you. There is no prescribed period for taking legal action…

Rajasree Ravivarma · Accepted Answer

Dear Questioner,

Thanks for writing to me.

Please note that the bank can file a civil recovery case against you. There is no prescribed period for taking legal action.

Once there is an outstanding, they can file the claim anytime. Please note that such claims have a limitation of 15 years.

Regards,

Rajasree Ravivarma

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