Hello All,
Last year (in March 2011) i have been offered a settlement of my credit card with 12% of intrest as the account is near to credit limit. and i have opted that option with 2400 Rs EMI for three years.
Bank has asked me to provide 36 cheques with the EMI amount and at that time, i had only 14 cheques with me and i told them the same. They suggested me to give 12 cheques with 2400 Rs and 2 cheques with 1 years EMI amount. (~29000). And they told that bank reps will call me before 1 year and they will handover the bulk cheques to me and collect small cheques for remaining 2 years.
Every month i am keeping sufficiant balance in my account and the 12 cheques were cleared. In this month without informing me/collecting new small cheques, back resp have deposited the bulk cheque in the bank and it was dishounered due to insufficiant funds.
When i called the bank they told that it was mistake my them and they need small cheques so that they will return bulk cheque.
Now my problem is .. Checque bounce entry will be entered in my CIBIL report and my credit scoring will be low. How to get rid of this and if i want to make a complaint.. whom should i approach?
thanks
Krishna
