creditcard

Querist : Anonymous (Querist) 22 January 2010 This query is : Resolved
one person taken a creditcard and used. now the card expired may 2009 the card limit one lakh he paid monthly 5000 till this month again they told your outstanding amount is onelakh my question is any remedy for my problem how much he will pay now his position is very bad he want to proceed legally can he do that

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Devajyoti Barman (Expert) 22 January 2010
If that person has got any problem with the Bank regarding the gross irregularity in Credit Card balance, he can initiate proceeding under Consumer Protection Act before the Consumer Forum for deficiency of service apart from lodging complaint before the Reserve Bank of India

Adv ramesh chheda (Expert) 22 January 2010
yes there is also guidelines of reserve bank as about the rate of interest which can be charged in respect of credit card
collect statement and find out how amount is arrived at
u can go for one time settlement with bank
and if bank is raising any false debt against u then u can file criminal complaint ag bank and its officers including directors, chairman.

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