Hello Respected Members,
I had a credit card from a well known bank, and they did some wrong transactions on my credit card, some of are below.
Credit Limit . 50000/-
Used by me. 20000/-
Minimum due. @5%= 1000/-
They debited (S.I) 20000.00
Result : amount could not honor,
Impact : they charged me , bouncing charges, late payment fees etc……
My initial steps: I have approached to bank for reverse the charges, and they promised to reverse but did not do so even after 4 month of regular reminder, and I have stopped paying the dues, then they approached me to settle the amount and I have issued the settlement cheque of Rs. 19000/- at night and 3rd day have got a notice of 138 N.I Act, that because they have debited some amount from my saving account as bank charges hence the cheque got bounced, and I have paid the amount through DD as soon I have received the notice, and they suppose togive me NOC after clearing of the DD and now it has passed 9 years and I have not yet received any communication from them, even after so many reminders, but now days some of their collection agents are harassing me and demanding me to pay more than 1 lak as credit card dues.
I don’t know how to handle this case, one senior most advocate told me that I should not worried because no recovery suite can be initiated if there is no transaction between giver and receiver in three consecutive year and in my case it has passed 9 years now.
And one more advocate also said the same thing. But still I’m not convinced.
Is this true?
I respectfully request you to advise me on the same.
Regards’
Sunil
