Credit card paymet
maria
(Querist) 06 June 2016
This query is : Resolved
sir,
i had a credit card with a limit of 10000 in the year 2003 and i used it for about one year. i lost the card during house shifting. unfortunately i didnt report that to bank because i had a feeling that there was no payment due anyway. i left it like that and now after these many years ie.,14yrs some agents of the bank called me up and said there is some 50000rs due and i should pay the amount immediately or else they will take legal action. i said i;m ready to pay but need some more time and also the complete statements.but they are not producing any statements and keep on calling in a slightly threatening voice. sir what should i do?please advise.thank you
Kumar Doab
(Expert) 06 June 2016
You have posted that:
" i had a feeling that there was no payment due anyway."
Was there any membership charge on the card and are you sure that you paid all bills?
How were you getting the bills say by courier/Redg. Post/email etc?
Did you inform the new address to bank?
Record all threatening calls and do speak during the call that all bills (alongwith letters written by bank) be supplied by Redg. Post and ask the caller to speak his phone number from which the call is being made, his full name/address where the phone is installed and he is located/name and address of his employer that has employed him/her, name with designation and address with phone number/email id of bank that has deputed its agency....................and finally to stop calling you and transact only by letter thru registered post.
Such calls might be web/internet generated and difficult to trace and most probably it is some recovery agency/ARC etc................
Don't pay to agency and prefer to pay to bank that too avoid any settlement as it would be adverse entry in your credit reports.
If threatened and harassed :
Report the matter to MD of the bank and RBI and police.
each bank has to maintain the list of its recovery agencies on its website.
Sudhir Kumar, Advocate
(Expert) 07 June 2016
You have reaped trouble so harvest it. You have to pay choice is with you that how much interest and insult you can afford
Devajyoti Barman
(Expert) 07 June 2016
The bank without production of valid proof of dues can not claim repayment.
So do not make any payments unless they send written demand letter which is based upon valid claim.
If they threaten you, lodging of complaint with the police is advisable.
Rajendra K Goyal
(Expert) 08 June 2016
The debt seems to be time barred if you have not acknowledged the liability in last three years.
T. Kalaiselvan, Advocate
(Expert) 10 June 2016
The debt is barred by limitation but any commitment to payment by you in writing to the bank shall being you back into the limitation circle hence please be very careful while handling them, keep denying the payments stating that you are not due for anything, let them go legally agaisnt you, they may not be able to pursue the matter legally.
