of late i had entered into a settlement for the dues of my relative, outstanding with HDFC Credit card, despite having the offer after waiver to pay a sum of Rs35,500.00, in 6-8 installments,I did pay upfront Rs. 8500.00, another Rs. 13,500.00 in End Nov. 2013, but some how I could not pay back the last installment of Rs. 13,500.00, that was due in December 2013. There was pacuity of funds as my tenets vacated the premises, welll before the expiry of the lease rental deed. Around 15 March, I was some how able to manage the amount of Rs. 13,500.00 and approached the HDFC Credit Card officers at different levels to revive the earlier setytlement, but they gave a deaf ear to the same.
Meanwhil;e, my relative who was in opened a new account with HDFC Bank, at Model town, Jalandhar, and bank did put the entire amount ofg Rs. 18,000.00 deposited on hold and after 15 days transferred the entire amount to the credit card account. Can they do this unilaterally? When the pending settlement was merely Rs. 13,500.00.
Furthermore, when I wrote tyo them to square up the credit card dues from the amount so appropriated and refund the amount of Rs. 4,500.00 in the newly opened Saving Account, I got call;s from, Ludhiana and Chandigarh staff looking into the Credit Card settlements asking me to shell out another sum of Rs. 20,000.00
are they in any way justified in demanding a high amount of Rs. 20,000.00 + Rs. 4,500.00 to settle a pendfing default of merely Rs. 13,500.00.
Someone, please guide me how to deal with this situation to come out successfully, as I do not want to surrender to the un ethical, inflated demand on the part of the HDFC Credit Card. More over even as per RBI guidlines on one time settlements, amount goes NPA, after 3 months and the matter is some more than an year old.
I do not want to keep the HDFC Bank, CreditCard money for even a day, as per their waiver granted earlier.
awaiting sincere guidance
