Credit card settlement
GAUTAM RAJ SINGH
(Querist) 17 June 2013
This query is : Resolved
My grandpa had been offered a credit card of Rs 10,000 value of HDFC thru some agent ,which he availed but during no dues process it had Rs 1200 as pending due ,which my grandpa being illiterate handed the amount to same agent and in return the agent gave a statement of receipt on a plain paper and a cash deposit receipt(account no and amount metioned) of HDFC, both without any stamp n attest by HDFC bank assuring that no due would be issued soon .But he fled away with the amount without depositing in the bank and from than on(2006) till now the due has accrued upto Rs 1.72 lakh as pending due as they kept on calculating with 2.45% monthly compounding .They are now continuously sending notices stating that a case would be filed in court regarding this issue if due is not cleared soon.Whats going to be the course of law n what should be our stand ??if my grandpa has some immovable property in his name at the address,can it be confiscated for settlement....can we file a case on our ground of being cheated by privately employed agents of bank who didn't make us understand all the terms of bank clearly..and issued the credit to a person who is almost illiterate..??
Sincerely waiting for some positive responses!!!
Vidhi Joshi
(Expert) 17 June 2013
Dear Gautam,
Though you might not have a direct stand, but even bank is at a following fault:
a) it was duty of bank to mail regular statement, (which could have gave an idea of outstanding).
b) it was duty of the bank to approach the customers as the card was inactive.
appraoch bank ombudsman as even bank had malafide intention to earn money using arm twisting "terms and condition" of credit card.
GAUTAM RAJ SINGH
(Querist) 18 June 2013
Sir
Thanks for Your reply.
1>I wanted to ask how can the bank claim for its due after pursuing case in court,if my grandpa(age 60+) is unemployed but he has some immovable property in his name at the address.
2> The bank had sent few statements regularly concerning due but we dint take it seriously also sometimes people on the behalf of HDFC came to to our home just updating us with our due ,without showing any strictness but again they were not authorised officials rather some private agents.
ajay sethi
(Expert) 18 June 2013
if your grandfather has not made any payments for 3 years nor acknowledged his liability claim of bank would be barred by limitation
GAUTAM RAJ SINGH
(Querist) 18 June 2013
Ajay Sir,
What does "claim of bank would be barred by limitation " means??
Please mention the rule or provision clearly mentioning this thing or give some reference for this...
Thanking You!!!!
ajay sethi
(Expert) 18 June 2013
it means bank wont be able to recover any money from your grand father . read limitation act
GAUTAM RAJ SINGH
(Querist) 18 June 2013
Sir,
If we want to proceed against the bank,should we approach to consumer court for unnecessary harrassments or banking ombudsman or any other agency??
Do we have sufficient ground to proceed against the bank??
Rajendra K Goyal
(Expert) 18 June 2013
You can lodge complaint against Bank, better keep mum and tell the Bank that the outstanding is time barred provided your Grand father has not acknowledged the debt in last three years. You can lodge a criminal FIR against the employee who fled away.
Dr. Jyothi Vishwanath
(Expert) 18 June 2013
Agreeing with Mr. Rajendra, I would like to add that if in last three years you have not received any written reminder from bank and your grandpa has not acknowledged, get a legal notice issued to the bank telling that the debt is time barred.
GAUTAM RAJ SINGH
(Querist) 19 June 2013
Sir/Madam
Thanks all for your replies.
My grandpa had been continuously receiving statement regarding pending due from bank.He has given written grievance to bank concerning the issue but he never acknowledged the debt in any form.I would like to confirm if The limitation act still remains valid in this case and the duration is of 3 years only or more??
what are other rational options before us??
Regards
Gautam
Dr. Jyothi Vishwanath
(Expert) 19 June 2013
If the bank has been sending reminders, then the limitation period of 3 years does not apply.
What written grievance he has written to the bank.
That needs to be known
The rational option is to talk direct to bank and settle the matter out of court.
Send a legal notice telling that your grandpa was illiterate man and so was fooled by the bank. And hence your grandpa is not liable to pay anything.
