Dear all :
How can MNC Banks recover outstandings from card holders in respect of charges incurred by them against such cards issued to them and which will be the courts of jurisdiction ?
Arun Agrawal (Business Consultant) 15 January 2011
Dear all :
How can MNC Banks recover outstandings from card holders in respect of charges incurred by them against such cards issued to them and which will be the courts of jurisdiction ?
radha (freelancer) 25 March 2011
If you have saving/FD/salary account in the same bank( in any city) , the bank may recover the amount by debiting from your account.
Banks have a bad history of issuing a notice for debit reaching the customer after the date of debit or not issuiing anotice or notice not reaching at all.
You may close all accounts in the same bank.
Bank may issue a notice to you to pay up, or file a summary suite, or lodge a complaint in lok adalat, or file for arbiteration proceedings if there is any clause.
Arun Agrawal (Business Consultant) 25 March 2011
Credit Card issue/usage agreements do not carry any arbitration clause/s . However, I notice that the Banks prefer to settle such outstandings through negotiation either directly or through their authorised collection agencies instead of going in for protracted litigation .
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
