Credit card payment- paid more than what borrowed
Ashley Anthony
(Querist) 11 November 2012
This query is : Resolved
Dear Sir/ Madam
I had taken a loan of 2,25,000.00 on the Credit Card with EMIs from Citibank for 36 months. I have regularly and without delays paid up 26 EMIs with interest. I am presently without work and was unable to pay further and my financial state is very bad. I asked the bank for a settlement and was ready to pay 30,000 to close the card and loan but the bank agents keep calling and harassing me for payments. I finally asked them for an a/c statement to show how much I have paid till date when finally realized and noted that I have till the month of June'12 paid up to Rs3,00,000.00 and more. Please could you tell me if it is still required that I pay the Bank more money. I feel I have paid the Bank more than what I have taken and its just that they are not ready to settle and want more. I am worried that they do not send collection agents or goons to collect money from me. Is there a way out? I feel I made a mistake by telling them I will pay 30,000. Now I dont want to pay this after I checked my statement noting I have paid more. Please tell me what I can do to close this issue.
Thank you.
Ashley Anthony
Pune
V R SHROFF
(Expert) 11 November 2012
If contract demands that u pay more, u hv to fulfil the contract.
I find City Bank always sleeps, and I clearly wrote them, they cheat.. their own client. I was unsatisfied customer of City Bank, and stopped banking with them long back.
This bank only knows how to squeeze poor Indian by their Indian Money, and Indian machinery , Indian staff, and have many legal cheating traps.
As I exposed it, they returned my money. Bank dishonestly taken money from me, without rendering any service to me..
BB.
I HAVE TO SPEND MY TIME AND MONEY FOR OVER A YEAR TO FIGHT TO RECOVER MY HONEST AMOUNT.
I recommend openly: ""DO NOT BANK WITH CITY BANK. BE AWAY FROM THOSE CHEATING BANK.""
Why they should not be thrown out of India?? We have plenty of Banks here.
Better bank with Indian Nationalised Banks Only. ""
Bank collect your money on nominal interest of 4% as average, on minimum closing balance at the end of period. They charge you 3-5 times the interest on maximum , in advance, on opening balance.
They have two different measures!!
