Credit card payment
Chiranjeev Lamba
(Querist) 27 December 2013
This query is : Resolved
Hi,
I have some due on my Credit card which i have not paid from last few month. I have received the notice in this regards from bank and they are saying that they will file case for recovery if i will not come for any settlement.
I will do the settlement but my only concern is that is there any provision to file the case for credit card payment recovery.
P. Venu
(Expert) 27 December 2013
Why not? A civil court could be moved any civil dispute.
Nadeem Qureshi
(Expert) 27 December 2013
agree with experts, settle the matter amicably if you want some time then the bank can be consider the same.
Guest
(Expert) 27 December 2013
If any misbehaviour or harassments by Recovery Agents file a suitable case consulting a lawyer
T. Kalaiselvan, Advocate 
(Expert) 27 December 2013
The dues by you to the company need to be settled one or the other day, why dont you do it today itself or borrow some more time to settle the same or in installments. They are entitled to recover the dues from you as per law.
R.K Nanda
(Expert) 27 December 2013
agree with experts.
Guest
(Expert) 27 December 2013
Dear querists, Further I prefer to tell you not to issue any cheques towards the same for temperaory reliefs.If you decide to settle them let them file a case and with the help of a lawyer take it to Lok Adalat and settle there and it would be final.Any part payments made by you they are capable of adjusting the same towards interest and your loan would never get over.Also ensure in Lok Adalat the bankers under take to remove the names from CIBIL if it had been mentioned Consult a Lawyer.
ajay sethi
(Expert) 27 December 2013
agree with narsimha
ajay sethi
(Expert) 27 December 2013
thanks for your appreciation
P. Venu
(Expert) 27 December 2013
The queriest is a new member. But both his queries are rather funny and hypothetical. He appears to be testing the experts.
Or is he an old hat in this art in another name?
Rajendra K Goyal
(Expert) 27 December 2013
Well advised by expert N.J.S.Rajkumar alias narasimha ji. Agree to it.
V R SHROFF
(Expert) 27 December 2013
agree with experts.
agree with experts.
agree with experts.
agree with expert
agree with experts.s.
Chiranjeev Lamba
(Querist) 27 December 2013
Hi Venu . Yes m new to this group but my query is not so funny as I m discussing my problems with experts. But not sure why u think that I m testing experts as the person who is expert does not need any testing.....agree?
Chiranjeev Lamba
(Querist) 27 December 2013
Hi Venu . Yes m new to this group but my query is not so funny as I m discussing my problems with experts. But not sure why u think that I m testing experts as the person who is expert does not need any testing.....agree?
Kumar Doab
(Expert) 27 December 2013
Mr. N.J.S.Rajkumar alias narasimha has provided a precise advice.
RBI has advocated such matters to be taken to Lok Adalat.
malipeddi jaggarao
(Expert) 28 December 2013
@ Mr.Lamba : You are not disputing that you have used the Credit Card. Don't you know that anybody who lends money has the right of recovery? Expert Mr.Venu's comments are based on the above.
@ Experts Mr.Narasimha/Kumar DoabA:
The queriest simply asked that he has used the card and whether the bank has right to take legal action. Why should we lead him to ruch to Lok Adalat at this stage.
Guest
(Expert) 28 December 2013
Precisely my replies were addressed to the query only.The Expert above if he has got any better/valuable suggestions he could make it directly to the querists with out commenting on other Replies.It is up to the Querists to take it or not.Mr.Malipeddi Jaggarao this is exclusively to you only.Might be being an Ex Banker you would have felt to defend the banks, do it on your own with out comments or finding faults especially with me.
Kumar Doab
(Expert) 28 December 2013
RBI has advocated such matters be taken to Lok Adalat.
While the banks/CC staff are known to issue threats/coercive communications........................
In certain cases lawyer of the banks issued notices to come for arbitrations/settlement while lawyer that issued the notice was not present and CC staff was present to conduct the arbitrations/settlement..................................
In such a case CC customer must obtain under original seal and signature that the lawyer was not present.
If querist adheres to notice by bank and approaches for settlement then:
-- querist must know that settlement is adverse entry and SHALL feature in his credit report maintained by establishments/members with credit bureaus like CIBIL, EXPERIAN, EQUIFAX etc an in addition bank may add the name in list of Bad Customers and send for inclusion in Master Card Negative Feedback list.
--bank shall try to push querist for interim payments that as rightly pointed by Mr. Narasimha, shall be first adjusted towards taxes, interest etc...............................
Moreover an interim payment and admission shall protect the bank from debt getting barred in the long run.
These are the tactics adopted by CC staff hired by the bank and this CC staff has to justify there presence and salary extracting whatever he can till last minute.
The rate of Interest on CC is exorbitant, sky high, unjustified, and RBI IN RESPONSE TO RTI APPLICATION has shown ignorance on ROI, Penal charges, etc being charged by the banks on CC.
Various CC customers associations, NGO’s etc have taken up this matter however due to prevalent ignorance and ‘JAHALAT’ perpetuated by Banks and its employees in the CC div..................... the ordinary and ignorant citizens are being subjected to this loot.
Each customer that has a CC has not necessarily asked for it, in majority of the cases it sold by the bank to its customers.
It is highly profitable product and next to it in insurance being sold by the banks.
Bankers/bank staff are given targets.................
Where else banks/CC company get a profit/ROI of 2.75% per month?????????????????????????????????
If you recall in the past banks/CC companies claimed (although verbally) that the ROI charged by them is in line with interest banks give on Savings account however it was misleading since interest on savings account say 2.75 % is per annum while banks charge it say 2.75% per month.
If the querist has defaulted on payment then he should pay however he should know how to defend his interest too.
SETTLERMENT IF AT ALL IS TO BE BROKERED THEN QUERIST MUST OBTAIN IN WRITING UNDER ORIGINAL SEAL AND SIGNATURE ON LETTERHEAD, FROM CC STAFF OF THE CC COMPANY/BANK THAT THIS SETTLEMNT SHALL NOT BE ENETERED AS ADVERSE/NEGATIVE ENETRY AND BANK SHALL REMOVE ALL FLAGS AND IT SHALL NOT AFFECT THE LAON TAKING ABILITY AND CREDIBILITY IN FUTURE, AND BANK SHALL NOT DEMAND ANY AMOUNT EVER AGAIN TO REMOVE HIS NAME FROM CIBIL, EXPERIAN, EQUIFAX AND SHALL AT ONCE DELETE HIS NAME FROM BAD CUSTOMERS LIST, Master Card Negative Feedback list.
THE QUERIST SHOULD ALSO NOT PAY MORE THAN INTEREST @ SAVINGS BANK ACCOUNT.........................PER ANNUM.
THIS CREDIT REPORT, CIBIL ETC ARE BEING FLAUNTED AS DAGGER BY THE BANKS AND CUSTOMERS ARE AFECTED AS IN FUTURE THE CUSTOMER MAY REQUIRE TO GO FOR LOAN FOR EDUCATION OF SELF, WARDS, HOME LOAN.................................
IT IS FELT THAT THE QUERIST HAS GAINED ENOUGH FROM THIS THREAD AND OTHER THREADS THAT HE MIGHT HAVE GONE THRU.
THERE IS ALWAYS A WAY....................................ONE HAS TO LOOK FOR IT.
THE QUERIST MUST APPROACH A LAWYER SPECIALIZING IN CONSUMER CASES AND DEFEND HIS INTEREST IN THE BEST POSSIBLE MANNER.
WE ARE AGAISNT THE PRACTICES ADOPTED BY THE BANKS FOR CC, INSURANCE, LACK LSUTURE APPROACH OF REGULATORS AND HAVE BEEN AND SHALL CONTINUE TO SUPPORT ANYONE THAT IS AFFECTED DUE TO SUCH PRACTCISES...................
WE ALSO ASK QUERIST AND EVERY ONE NOT TO USE CC IF ONE DOES NOT HAVE FUNDS TO PAY.
THE PURPOSE OF CC SHOULD BE UNDERSTOOD; IT IS ONLY ONE:::::::::TO CARRY CC IN PLACE OF CASH.................
IF YOU DO NOT HAVE CASH DO NOT CARRY CC.
