Credit card fraud - questions on the rights of the card holder
Geets
(Querist) 03 July 2015
This query is : Resolved
have a question on credit card debt.
The card was delivered at the card holder's house in 2009 (but not to the card holder). No intimation was provided to the card holder prior to delivery. At the time of the delivery there was a fraud resulting in a charge on the card. The card was blocked on the same day and also reported to the police. The fraudster was caught and case is under trial.
Questions:
1. Given that there was a fraud, is the amount of the card the liability of the card holder?
2. Given that the fraud was reported on the same day, could the bank charge back the money from the vendor where the card was used?
2. What is the statute of limitation for Credit Card Debt ? How is it calculated?
3. Does verbal communication with the bank / collection agent considered while calculating the time limitation ?
Kumar Doab
(Expert) 03 July 2015
1. The CC is to be delivered to card holder (only) after ID is seen.
As per policy the deactivated card is supplied and once the CC holder reports the receipt the CC is activated.
Can you get copy of bank's SOP on it?
2.Bank should have blocked the payment to vendor and completed the investigation, in the interim and supplied the copy/investigation result to CC holder.
3. Three years from date of admission of debt.
4. Not necessarily.
Apparently the bank has not admitted its fault and has shared the investigation report with you and transferred the onus on you.
By the way which bank it is!
You could have approached DCDRF on the first instance and got the bank penalized.
Did you consult a lawyer on the first instance?
Rajendra K Goyal
(Expert) 03 July 2015
1. The fault is to be probed to fix the liability.
2. The arrangement / agreement between the vendor and the Bank need to be referred.
3. Three years from the due date.
4. May or may not.
Geets
(Querist) 04 July 2015
Thanks for the replies. I will try to get hold of the SOP.
QQ - what does "admission of debt" mean?
Also, this is Kotak Mahindra bank.
Kumar Doab
(Expert) 06 July 2015
written consent to admit debt, continuation of debt, rescheduling, part payment etc......
Did you consult a lawyer so far?
