Best way to get rid of credti card and its outstanding amount

[abhiram]

Dear Sir,

I had one ICICI credit card since 7-8 years.  Since 1 year am a defaulter.  Outstanding amount is Rs.20,000/- out of this most is interest, fines etc.  I want to come out of this card.  Card was blocked and canceled.  I dont have a card now.  What is the best way to clear from this. At present am not in a position to pay full amount.  How to talk, whom to talk, hwo to approach, which is the best way, please let me in step by step.  As per your advice I want to settle and make the final payment.  Kindly help in this regard.  Ur advice is great to me.

Regards
Abhi

[cardbhai]

1. You need to ask for converting the Outstanding into Personal Loan. Chances are they may deny it because it is small amount. In case it is denied, ask for Installment Payments to finish off this. However, your credit record maybe affected if they report it as settled [because of converting it to installments]

2. I'd suggest you raise the loan from your friends and family members and pay this off. Or go for Jewelery Loan and Pay this off as Interest Rate on Credit Card is VERY HIGH.

The best way is to get rid of Credit Card Dues in FULL so that Credit History is not affected.

Best.