Anuj Kumar 15 December 2015

Credit card from 2005 - need help!

Hello Everyone,

I had a credit card back from Standard Chartered in 2001 and last payment was done in 2005 and now in Dec 2015 a guy from Mumbai calls me and tells me that he is a lawyer for Standard Chartered bank and he says that I have not paid the credit card from 2005 and now I have 2 options. Options are I can comprise and pay Standard Chartered through this lawyer or else he will issue a legal notice and issue a non bailable warrant against me. I am not a lawyer and quick search on Google says that there is something called statute of limitations so please help me answer some of the questions I have?

Q1: Does statute of limitations apply to me as the last payment was done in 2005

Q2: If I ignore this lawyer, can he issue a non bailable warrant against me

What do I do?

Thanks

Anuj

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4 Replies

Kumar Doab (FIN) 15 December 2015

Record the calls.

The lawyer has no power to issue Non Bailable warrants.The lawyer has committed the transgression.Since he has claimed to be lawyer on behalf of StanChart bank the bank is also liable to be questioned.

If there is n o admission of debt since 2005 then the debt is hopelessly time barred.

It is upto you to negotiate and pay, however the deliquency must have already been reported and the settlement shall be adverse entry and shall remqain in record until or unless you strike a written agreement that bank shall call back your name admitting its defualts and the settlement shall have no adverse bearing on your loan taking ability in future.

Anuj Kumar 15 December 2015

Quick followup, Can they issue a legal notice and then take me to courts and issue a non bailable warrant against me the reason I ask is because he did say they will go to court

Kumar Doab (FIN) 15 December 2015

If you have stated that due amount is barred by time during the call ,then it should suffice.

If the lawyer wants to go to court for time barred debt then you can contest in court.

Since 2005 alomgwith interest+penal charges it shall be a fat amount and anyone that succeeds to recover may get fat incentive.

Hence they shall try.

You owe the money and you have not posted that you have already paid it.

Hence all choices are with you.

If you are preturbed consult a local lawyer and defend your interest in your matter.

siddhartha sinha 16 December 2015

Most probably they will not move court but harrass you till you pay and settle. Tell me if you are having same number for last 10 years. Do they know your office and home address?