Good Day! I have been and still in a very difficult financial situation due to the non-payment of salary from our company. Because of this, I am not able to pay the dues and missed payments. I have one card from FAB with a limit of 40k and has now become around 58k due to interests and other charges. I have been trying to cooperate with them and asking for a good settlement/restructure but they don't want to give discount for interests. Another thing is that, they agree to restructure the debt but with additional interests on top of the current outstanding which is not helpful and will only burden and trap me in debt. They have threatened to deposit the cheque and if bounced will file a police case against me. I have read other inquiries with same issue and the advise is to just pay the fine when a police case has been raised. My other question is, are banks allowed to use the signed blank cheque as evidence in courts for filing civil case? (Blank cheques which were signed by the customer but date and amount written by the bank).
I have also read from other posts that banks do not proceed with civil cases with these amount due to heavy processing fees. Is this always true?
Thank you for your help.