I am a resident of Bangalore and am 42 years old. Lost my job in Dec'2009, and i have been unable to pay my credit card dues for almost a year. They did give me a Debt Repayment Option but i could not manage to pay the EMI's as i ran out of savings due to a medical emergency in the family.
My savings have dwindled and not in a position to payback, unless and until i get into job. Now....i have a received a job offer from a start-up company but i would be joining them in approx 3 months time.
It is only recently that the pressure from collection / recovery seems to have been intensified, and i do not know how long i can keep them at bay.
We are terribly stressed out and it has taken a toll on our health. My self esteem seems to have gone down and i do'nt feel my best when i talk to anyone.
I wish to know if there is a legal recourse to buying time for a year and pay back only the principal outstanding. I cannot trust the collection staff as they do not have any solutions....they are just not approachable if i have to discuss my issue or my intention to pay back.
The most important thing right now is to keep my family safe from these goons..
Please help