pls guide me regarding credit card tension?

Hi, I am staying in India,having credit card of a particular bank there is outstanding of more than 80000/- Rs. please tell me if i changes both the address(office&residence) is it possible for the company to trace me if i doesn’t pay the outstanding. i have financial problems. one of my friend told me this idea, as he is having successfull experiance about the same.

2 Replies to “pls guide me regarding credit card tension?”

  1. Banks use sophisticated Customer Relationship Management tools in their banking software and thus have a trail of changes made to your address details at least for one year. Changing you address may give you a short term relief from the Credit Card companies but they would be in a position to track you down unless you change your job and residence.

    A long term solution would be to obtain a personal loan from a bank for the amount 80,000 and pay approx 2000 per month for a 60 month tenor.

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