Credit card settlement

Record all calls and let them threat you and lodge a FIR including the name of MD in Noticees……………………………………

There are ways to handle such callers.

It is hopelessly time barred case. Recovery can not be enforced.

Hence they are trying tactfully to extract admission from you to revive the limitation.

They are certainly bound to supply all statements free of cost.

Do not get into any written admission of debt and proceed under expert advice of your lawyer.

There are many threads with similar queries that you may fins relevant e.g;

Thank you Kumar for you valuable inputs.

I have all calls recorded, I have always maintained that I may owe the bank, but i dont remember as it was long back. To be able to conform that, i wanted the last 6 months Statement from the time  of last payment which is of Nov 2004.

But they are insisting that they cant provide statements for only those period but only for the whole tenure  uptil the closure of card which is 2012 and the statemet cost is 7000 rs and I need to pay upfront for them to send it.

They having said that, sent me a card statement of Feb 2014, a plain copy, no logo. Just the name and the amount and the card number.

Now how can they say the card closed in 2012 and then send me 2014 statement, when last payment as suggested by them paid in Nov 2004?

last two days.. they are randomly calling some of the members of my office (No idea how they got it) and saying we are from credit card and want to know some details of me, Like my branch, my manager name. office details.

I AM WORRIED :(

You have posted that:

“I have always maintained that I may owe the bank, but i dont remember as it was long back. “

You do not have to say or write anything like this. An admission may reset the clock for limitation!

YOU need to point black tell them the ‘Debt’ even if existed it is time barred and recovery can not be enforce, and they need to stop calling you and anyone.

You can also ask the collector about the last date of payment and admission and acceptance of debt as in their record by you………………….

“Did you ever ask the caller to give his name, designation, name of his company ( not company on behalf of which he/she is calling) , address with pin code, phone number (and ask him to speak the phone number from which he/she is calling with STD code), registration number....................................email id, website, RBI license number, and authorization on the strength of which he is calling on behalf of CC company/Bank etc……………………”

“they are randomly calling some of the members of my office (No idea how they got it) and saying we are from credit card and want to know some details of me, Like my branch, my manager name. office details.”

They can’t do it.

They are counting on your fears and thus to extract the fat bucks……………………………….even if the debt is time barred…………………

YOU have the option to issue legal notice to MD of the Original Creditor i.e. Bank and along with it M/s …………………………(caller) that has bought the unpaid debt shown in your name disputing the debt..........................and ask them specifically have they authorized the callers............................and to call them all of your colleagues, peers, relatives and who has provided them their numbers and authorized to call them…………………………

YOU need to point black write to them the ‘Debt’ even if existed it is time barred and recovery can not be enforce, and they need to stop calling you and anyone, and admit the calls made so far and that they are stopping it at once.

You may add that they need to write to your lawyer only that too by redg. Post.

YOU may mark the copy to RBI address of which has already been given.

Real debt collectors should stop calling you the moment you ask them to do so.
Your phone is your personal property and only the one that has been permitted can enter your property.

They have to provide all statements of all month’s free of cost to validate their claim and that too on stationary of bank/CC company with logo and since it shall be a printout you can demand it to be authenticate under original seal and signature of competent employee of bank/CC company.

“I AM WORRIED”

You alone have to help yourself.

Act immediately and approach your lawyer, and lodge a FIR against the callers and MD’s of the bank and callers, and local BM of the bank………………………………….and local BM of office of CC div of the bank in your city. YOU will be able to note that they are pretenders only and hide behind these callers and once the noose is set for them their real cowardice come in the front.

Or you may just fail the efforts and pay the amounts being demanded from you…………….

Sufficient has been discussed in the threads referenced to you. The supreme court of India Judgement on recover agents, RBI guidelines  is quoted in these threads.

CHOICE IS YOURS.............................and FINALLY REST IS UP TO YOU.

Thank you Kumar.

I appreciate all your help and you couldn't have been any more clear/precise in your advise.

yes I have taken down all their details  and can confirm that they are calling from the respcetive bank. I have come to investigate that many banks invest in having their own collection back ofices and the call i received was from one such centre attached to the branch.

I am going to point blank tell them that its time barred even if the debt existed.

But can i write back/reply to the same email ID, which sent me the dubious looking statement saying "YOU need to point black write to them the ‘Debt’ even if existed it is time barred and recovery can not be enforce, and they need to stop calling you and anyone"

Thanx.

Hope you will take it in positive stride. On line discussions have its own limitations. It might be free but it may not be perfect.

In life don’t use ‘Cut and Paste’ options. It can be highly detrimental at times.

 Another point is that you or anyone can’t just cut and paste lines written by anyone.

Moreover your choice as posted by you is not wise and right.

If you have found their whereabouts then lodge a complaint by name (even at residential address) and do not forget to make the MD, Chairman a Noticee……………..

These recovery cells collect data and information from various resources: profiles on social plate forms e.g; Facebook, bank a/c, your tea wala, paanwala, doodhwaala,  Security guard, peon and what or who not………….

Do approach a lawyer in person and if your lawyer opines lodge a police complaint/FIR.

One should have a lawyer. Need not to be a big Law firm. It might be the lawyer in your neighborhood……………..It helps a lot! YOU will learn to handle situations in a much better way.

Awesome, i get your point of having a lawyer, just like having a family physician.

In todays world in this fluctuating economy and bubble bursts and instable commodaties, I can see why it pays to have a lawyer.

Hello again, I am sorry I keep coming back to you on this one.

I got another call from them saying that they will make sure that ill pay all the outstanding amount and they will recover it, and there will be no settlement or CIBIl clearance amount and they will not hep me anymore.

They informed that they will file Arbitration claim against me.

Throgh out the call I asked them for the statement of the said period, so that i can verify and get back to them but was being informed that its chargeable. I informed that they are supposed to give free of charge as per RBI guidelines.

Now if they file Abrbitartion and ask me the appear before the court, Do I have a case of requesting the said statements. The Original Customer application form?

What are the implications and what are my options?

And if they do provide, I am liable to pay the whole amount of 2 lakhs, where i was earlier offered 34 thou for settlement?

Can i contest that I always asked for Statements and provide recorded calls where i repeatedly requested for it as a proof and to take the matter forward amicably.

can i also counter case them over the calls they made to my colleages and office number and also upon the threats I received, that my manager will be notified.

A point to note, My CIBIL report doesnt have any mention of the said credit card and the caller was a little taken aback when i informed that My housing loan was approved last year and currently holding two credit cards and a CIBIl score of above 760.

Please advise.

You don’t to have to tell them your CIBIL score…………….or things like this.

Since you are being troubled…………………………………visiting your lawyer shall worth it therefore you may approach your lawyer as already suggested, and let your lawyer examine the merits based on your record and inputs.

It is felt that if there is no arbitration agreement then arbitrator can’t be appointed.

There should be limitation period in arbitration agreement.When did the claimant discover the facts giving rise to the claim?

All parties should admit or agree that there is an arbitration agreement and if one party does not the party that has claimed there is an arbitration agreement should produce the agreement.

One communiqué from your lawyer may put the matter on ‘Shut Up Mode’ forever and/or if you have merits the lawyer may opine that CC company may not succeed against you. Your lawyer can very well opine on scope of arbitration, existence of arbitration agreement, its jurisdiction, specified  limitation period also, and asking for copy of card issuance form.

However let your lawyer opine finally on the matter and merits.

Sufficient has been discussed in this thread now it is up to you how you would like to drive your case.

It is felt that if there is no arbitration agreement then arbitrator can’t be appointed.

There should be limitation period in arbitration agreement.When did the claimant discover the facts giving rise to the claim?

All parties should admit or agree that there is an arbitration agreement and if one party does not the party that has claimed there is an arbitration agreement should produce the agreement.

Superb, These are the exact things i was looking for, Hard hitting logical questions.

Could you also please help me with lawyer who is online on these Forum/Community that I can take help of to settle this once for all.

If anyone else who is reading this is a lawyer, I need your help. Please PM me.