Home   >>    Articles   >>    Historical Queries   >>     Credit Card   >>    18144-writing-information-credit-consuleing-lakh-outstanding-credit-cards
Get Credit Card Offers
A maximum of 5 providers will compete to give you the best rates (Sep 2016)

 

 

 

 
 
 
 
 
 

I authorize the website and its partner providers to call or SMS me in connection with my application & agree to the Privacy Policy and Terms of use

Search Queries related to...

Did not get what you were looking for? Ask an Expert


Ask An Expert

Date : Dec 31, 2008

Question

Hi I am writing this to get some information on credit consuleing. My father has about 3 lakh outstanding on his credit cards, primarily due to loss in business and he was using credit card to mobolise his working capital. I am in well setteled job but every month I have been helping my father in making the payments someitme in full or minimum. I want some information/guidance on if it will make sense to go for credit consuelling and get rid of this burden and get, more importnatly peace of mind for my father. I do have some cash and other investemnets like insurance policies which i plan to liquidate and get around 1.75-2laks in cash and use that to pay off the credit card dues. Do you know any credit consulleing centres that we can use. Also wanted to check if this settelment with credit card company will have an adverse effetc on my fathers credit or even my credit Please let me know

Answer

The best solution is to pay off the credit card dues. Settlement has an adverse effect on your father's credit profile. To know more click on settlement. But settlement would not have any effect on your credit profile as you are not the owner of the debt. If you want, you can contact credit counseling agencies such as Disha Financial counseling. For details on credit counseling apnapaisa.com/2008/10/31/credit-counseling-get-help-to-deal-with-your-money/" target=_self>click here.

 

 

20976 i have credit card from hdfcbnk with limit of only 30000 from more then one year i have paid th
20968 I have a serious issue with the Deutsche bank credit cards division. I was not getting my month
20949 sir i am having an icici credit card and am asking for a settlement for my dues and the amt tol
20946 sir,i have a salary account in hdfc bank and i opened it in 2008 march,i used it for 4 months a
20938 what is the terms and conditions to take a credit card from any bank
20780 Sir, I have a SBI Credit Card, Which I am paying my dues regularly. I recently called the Custo
20717 I am holding a Credit Card, the agent offered me settlement and initially I have decided to go
20706 sir, my name is sunil from mumabi aroune 2yr back i use to have icici cc with a credit limit of
20697 is minimum paying of credit card amount offer safe?
20696 i have thomas cook icici credit card ,and i want to do balance transfer ,so may i know what wil
20656 i submitted all my documents to axis bank person,he told me ur salary is 14200/pm.with cuttings
20652 my salary is 15000/p.m.iam getting 14200/p.m,is this amount not sufficient for appling credit c
20586 dear Sir, My credit card was used by my cousin of 15yrs age at a renowned company store without
20555 I have applied for the Pl in city and they are not able to give me the same due to cibil is sho
20545 I have settled my credit card dues and received the NOC from the Bank. Does my name still exist
20536 Among the various Credit Cards available today, I would like to have a credit card which has th
20526 should i give cse(three digit number written on back side) while shoping.
20513 I did the settlement for my card a year back and now when i applied for personnel loan, bank re
20509 I have a Manhattan credit card. 2 years back I had taken a medical insurance policy for my pare
20507 I owned a credit card in 2002 (7 years old case) which got stolen and fraud transactions worth
20494 I had standard charted bank credit card 3 yr back and i closed that card by paid all outstandin
20489 i want acredit card which one is best for me
20475 Just wanted to know about all the credit cards that I am eligible for..
20471 Sir, I would like to apply for a credit card which offers the least interest rate. My income is
20444 I have a debt of around 60000 in credit cards in various banks, due to recession I have lost my
20431 hi.. my name is raj burhan khan, my monthaly income is 6500/- am i eligible for credit card or
20428 sir if i buy sbi credit card and i use just once a year then do i have to pay charger for the w
20421 hello sir. when I was studing, Citi bank offered a gold credit card under a student scheme. fro
20407 i have 4 creditcard due to high financeial problem.............. i dont be able to make payment
20384 My credit limit on Barclay's credit card is 40000.Every month I have been paying more than Rs.