Credit Card Settlement

Querist : Anonymous (Querist) 26 May 2010 This query is : Resolved
I have paid full settlement amount in part as decided by the bank's representative.I paid the final balance amount in cash against the receipt of full & final settlement letter after confirming with that representative. Thereafter I stop receiving monthly statement & also there was no correspondence from bank. But after 6 months I receive a call asking for part amount which was paid before final payment was made. I ask for a written letter for demanding this balance amount. Even after SIX YEARS & till today they never send me a written letter nor any representative visited my address, demanding to pay that balance amount. I use to receive only phone calls, that too once in a year for making payment. I would always request them to sent me a letter.But till date they have not send. How do I stop this matter. Please reply.

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adv. rajeev ( rajoo ) (Expert) 26 May 2010
just ignore the phone calls or send a legal notice to the Bank to stop the unnecessary harrssing you by phone.

Pankaj Kundra (Expert) 26 May 2010
Did you receive the settlement letter on the bank letterhead duly signed by the authorised signatory??
If yes visit the bank and show the letter and give a complaint in written that you will be complaining to the banking ombudsman and the consumer court if the problem persists...
If you dont have a settlement letter then your settlement is not valid..

A V Vishal (Expert) 26 May 2010
You have two options in the circumstances first file a police complaint against the bank and second file a written complaint with the banking ombudsman.

Querist : Anonymous (Querist) 28 May 2010
I have received the settlement letter on Bank's Letter head duly signed by authorized officer. I have also complained to bank's ombudsman department. They are still demanding the part balance amount.What step should I take.

Pankaj Kundra (Expert) 28 May 2010
You should file a complaint in the consumer court and ask for damages for mental harrassment , you can also file a police compalint ... but its better to send a copy of the settlement letter along with a written complaint to the customer care department and credit card collection department of the concerned bank

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