Credit card dues settlement

Yes, they can file a Criminal Case against you.

Well, appoint a lwayer, and try to renegotiate with the credit card company.

And, regarding, of the case will be in your favour or not, most of these cases end up in out of court settlement. It is upto your appointed adovocate, that how much he can defend your case. 

Dear Mr.Kumar,

It is depends on the documents which you have executed as security on availing credit card. They can launch criminal as well as civil case against you. it is advisable to consult with a lawyer, give him all the details from the begining and negotiate with the bank to settle with proper legal notice, which we can make use to defend if the matter turns to criminal court.

With regards,

Sajeev Menon, Dubai

The amount of 3 lakh is principle amount or including interest and penalties.

You have posted it is a card loan, therefore it is believed that loan is on credit card a/c. The credit card has a credit limit. Rs.3/- lakhs seems to be a very big limit. Please describe further as asked by learned members/experts, e.g date on which principle amount of Rs.......was disbursed, and for what purpose loan was sanctioned.

You have expressed your intension of settling the loan by way of .......say 3 EMI's spread over ........months. Remain gentle amiable.

You are not escaping or hiding from the company. You have expressed your financial constraint to the bank, and sought a solution from the bank. Be responsible and manage to settle the loan as pledged by you.

You should maintain record of all conversations, e.g. date, time, name of person, phone number with STD code and phone number at which you were called. RBI has issued strict instructions and banks can not use coercive, abusive or threatening approach .Without your prior approval bank can not send any agent to your place. Bank has to first issue you a notice under acknowledgment, and bank has to supply you complete details of the collection/recovery agents/agencies. The agent if allowed by you to come to your place has to carry copy of the bank's notice, his ID card. If any body issues any threat call police.

Bank can initiate civil suite for recovery.

Manage your resources and settle the loan as ap.

I was having credit card of s.c.bank ,about three year back they charged me annual charges+service tax

i oppose that this card is offered me without annual fee, bank reverse the annual charges but not service tax

i again request in coustmer care they assure me it will be done you just pay your orignal purchase payment.

   But till june 2010 no reversal was given that about Rs.400/- becomes 10000/-

 then i request in custmer care to cancel my card, after about three months after i am getting a calls

   so please help me out

@Naveeen,

Kindly get into the habit of written representations instead of verbal transactions. If at all you have to call CC Company dictate your complaint and ask the CCE to read word by word in English the complaint/request he/she has entered in note pad of his/her computer and give you the complaint/request number.

You may lodge a complaint with MD of the company and local BM in writing. You may record each call and ask the name designation department company name address with pin code email id, phone number with STD code fax number name of the company of the calling person.

You must reject if the calling person states he/she is calling on behalf of say SBI card.

You may submit final reminder to correct the bill by reversing excess charges and supply by registered post, new and corrected bill in original (preferably under original seal and signature of competent employee of CC company) showing reversal of all charges including service tax, late payment charges, penalties, finance charges, interest etc and only the shopping amount and you shall pay after receipt of such bill in original.

You may mention that you shall not attend any phone call and if company and its associates/partners/agencies whatsoever, wants to meet you company shall seek an appointment in writing by letter thru registered post mentioning name designation department company name address with pin code email id, phone number with STD code fax number of the company personnel who shall come to meet you. After receipt of request of company you shall grant appointment in writing. The designated employee of the company shall bring original and certified copy of his/her identity card and shall handover the true copy minutes of discussion to you on the spot. You may mention that company should submit to you by letter thru registered post name  address with pin code email id, phone number with STD code fax number of the employee of the company who has erred and has caused you this harassment and action taken by company against this employee and if company has sent your name to any credit bureau then company shall supply you certified copy of such communication and if company has sent your name to any collection/recovery agency then the name  address with pin code email id, phone number with STD code fax number and RBI registration number of the agency, and company shall be accountable and responsible for declaring you a defaulter.

You may mention the inconvenience, harassment, financial loss (including cost of representation, email, fax, phone, traveling, parking charges, legal consultation etc) suffered by you and demand payment at once and you shall levy interest at % +penalty @..+late payment charges @) higher than each item of company) and if the same is not paid within dated…………the interest etc shall continue to add.

If the calling person resorts to force, coercion, threat you may lodge a police complaint in writing with police commissioner, SHO under acknowledgment.

Such matters are resolved usually even after lots of complaints since company gets benefited if customer comes under pressure and pays the huge charges, therefore be prepared to initiate legal proceedings. A legal notice by your lawyer may help. You may mention that legal charges shall be deducted from payment along with other charges.