credit card problem
jureddi peddinaidu
(Querist) 03 March 2010
This query is : Resolved
on a specific day there is an outstanding balance of 40,000 on my credit card.The banker invited me for settlement and it is settled for 18,500 which have to be paid in 2 installments.Even after payment of agreed amount they have not issued ful and final settlement letter moreover they are sending the credit bills showing 1,20,000 as outstanding on my credit card.I have filed a case in consumer forum for defeciency of services.Can you suggest any decisions favourable to customer delivered by supreme court, national forum or A.P. state consumer forum?
Kumar Thadhani
(Expert) 03 March 2010
My sympathy are with you when your banker has agreed for OTS and you has paid the same the agreed amount in two instalments you could have asked your banker for no-dues certificate from them .
G. ARAVINTHAN
(Expert) 03 March 2010
In the absence of No-Due certificate by the banker in your name, the settlement you made is not an effected one
Parveen Kr. Aggarwal
(Expert) 03 March 2010
In case no writing was executed regarding the settlement arrived at then the bank must have adjusted the amount paid by you as part payment and have shown such a hefty sum as outstanding. In the absence of any writing, it is very difficult for you to prove the settlement and payment in full and final settlement. However, you can question the demand of such a hefty sum by challenging the calculations and rate of interest charged.
In case you have any proof that the settlement had taken place then the bank is certainly liable for rendering deficient services and you can succeed against the bank even without Judgements of higher fora.
