Statute of limitation

Hello,

I am answering this coz even my family has been a victim by bank & ive researched a lot on this...

He should ideally approach the Consumer Court & safeguard his stance plus he can claim damages too in the same plaint if he is well verses with his facts

The card account was invalidated in sep, 2007. How can I find out the statute of limitation on the card account ?

3 yrs is the time frame within which bank/ company should be able to contact defaulter in any way whether its reminder or statement etc.............So 2010 is limitation for them....But if they continue to harass you then u can approach consumer court & seek damages if needed.

if they have contacted u before 2010 & they are also contacting u now it is valid coz limitation comes if bank has not contacted cusomter for 3 yrs through any correspondence...............if after 5 yrs, u get some letter/stmnt thn its invalid.

Any reply, may be of denial,too would revalidate limitation,so beware! consult any experienced advocate or if convenient file FIR against persons talking /contacting you.

Guptaji,

He was only once contacted by bank in feb 2008, where he was informed about an outstanding dues of 30,000. This included spending of 4500 which was in his knowlege and  18000+ spending which he has denied of any knowledge. This spending was done after the card reported lost. This guy objected to pay all 30000 and agreed to pay off 4500 and get this matter settled. The collection executive promised to settle the matter and send me documentations, which he never received and he was never contacted my the bank till July 2012.

The bank denies of having any records of receiving any written application to block the card or any settlement offered to him.  His bank account was debited wth some 25000 against payment of credit cards. He objected this act and wrote to grevience redressal cell. The bank did not return his funds bank not did entertain any of his objections, but have also mention in their email communication ," we here by confirm there are no outstanding payable on your card against the credit card  account as on date ".

When he requested them to issue a settlement letter, the bank personal had recontacted him and started demanding 63000 as pending dues.

What do you suggest in this case ? Approaching banking ombudsman or try to speak with bank athorities ?

Thanks

Bank will not co-operate in refunding money..how can debit your bank account for credit card dues....its not a part of bank's policy......

Even if its a small amount, matter should be taken seriously...........pls fight & approach either banking ombudsman or consumer court...infact U can benefit with the consumer court......FIR might take a long time but even thatz a way possible.....