Credit card
shirish
(Querist) 03 April 2017
This query is : Resolved
Hi Sir,
I have SBI credit card with 68000 limit,I have paid 6 month minimum amount, after that, due to non payment of minimum dues the amount has overdraft, and the outstanding amount is 100000 right now. The bank has moved my card to write off stage. So have paid 16000 and provided a post dated cheque of 20000, on 15th march. I could not able to pay 20000 at a time so I have requested the agent to stop the cheque. The agent stopped the cheque and I have paid 10000 cash on 28th March 2017. He said me to arrange another 10000 in 2 days which is not possible for me, so he submitted the cheque in bank. Now I have paid another 10000 through online payment. what are the consequence i need face now
Kumar Doab
(Expert) 03 April 2017
CC is to avoid carrying cash.
One should get CC if one has cash back up.
Debit Card is better option, as one shall spend to the limits of the cash balance, one has.
You may pay cheque bounce charges since you have paid cheque amount by online payment mode and balance amount.
Kumar Doab
(Expert) 03 April 2017
Your credit rating (CIBIL) must have already affected.
Pay total outstanding and close the CC.
Sudhir Kumar, Advocate
(Expert) 04 April 2017
when you have paid PDC then keep balance in bank so that cheque be cleared.
bank persons are not fools so that they have taken PDC.
now if chqeue is not cleared you can go to jail or else they can now cask for whole amount for fresh compromise.
shirish
(Querist) 04 April 2017
Sir I want to pay entire amount but I am not in a position to pay at a time. Is there a chance to pay in EMI or 3 to 4 installments ?
Sudhir Kumar, Advocate
(Expert) 04 April 2017
I am not talking of the entire amount. I am just referring to the amount mentioned in PDC. That much amount must remain in your bank otherwise the agreement of write off is broken and bank will re-open earlier dues and you will be compelled to pay the same (whether you are or are not in a position) to avoid the criminal prosecution.
or else
you go to jail.
you said
"Is there a chance to pay in EMI or 3 to 4 installments ? "
once the cheque is bounced then you are at the mercy of bank and this forum cannot be spokesperson of the bank so none else than bank can comment on the chances of bank agreeing for EMI.
further why should now they agree for EMI when you have provided them tool for sending you to jail
Rajendra K Goyal
(Expert) 04 April 2017
Well advised, agree with the expert Sudhir Kumar.
Kumar Doab
(Expert) 04 April 2017
You may pay cheque bounce charges since you have paid cheque amount by online payment mode.
For payment of balance amount in equated installments take up with bank.
If you wish try settlement with bank.
Settlement is also adverse entry in Credit History.
Kumar Doab
(Expert) 04 April 2017
Agreed with Mr. Sudhir Kumar.
Don't issue cheque if don't have sufficient funds in a/c.
