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Old 09-11-2018, 05:06 AM   #1
carriedout
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Default Credit card defaulter....

My only question is, if the defaulter paid the fine imposed by police , will the loan be closed or can banks file a civil case for the repayment of the credit card ? harassment and threats i received everyday and its very offensive and demoralizing...please help...i have 78k debt in FGB including interest , original credit card security cheque is 50k. please help

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Old 09-12-2018, 05:15 PM   #2
Dontyouworry
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Default Re: Credit card defaulter....

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Originally Posted by carriedout View Post
My only question is, if the defaulter paid the fine imposed by police , will the loan be closed or can banks file a civil case for the repayment of the credit card ? harassment and threats i received everyday and its very offensive and demoralizing...please help...i have 78k debt in FGB including interest , original credit card security cheque is 50k. please help

Thankyou
Once the fine is paid the case is closed which was filed for a cheque dishonor and later bank does not go after filing a civil case as it should be only after many years also that involves a huge court fre which can be one third of the cheque amount claimed so the banks instead get the amount outstanding from insurance after getting the report of case closure. Other than this, banks and collection agencies willl definitely come behind the defaulter for any payments, sadly this cannot be stopped but what you can do is be bold when you talk to them and do not show signs of botheration for what they do, this will make them reduce follow ups gradually.
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Old 10-19-2018, 10:47 AM   #3
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Once the fine is paid the case is closed which was filed for a cheque dishonor and later bank does not go after filing a civil case as it should be only after many years also that involves a huge court fre which can be one third of the cheque amount claimed so the banks instead get the amount outstanding from insurance after getting the report of case closure. Other than this, banks and collection agencies willl definitely come behind the defaulter for any payments, sadly this cannot be stopped but what you can do is be bold when you talk to them and do not show signs of botheration for what they do, this will make them reduce follow ups gradually.
So this means banks will still file civil case only after a certain years have passed?
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