Law of limitation on credit card loan

This query is : Resolved 
 

(Querist)
19 June 2017

I had a credit card in 2007. Used it for three months and made part payment twice durinv that time. No interaction with bank since then.
Now after 10 years they have called on phone after locating my number asking for payment. I have told them I will reply about my position after 3 days. Is the case not barred by time limitation

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Rajendra K Goyal (Expert)
19 June 2017

If they send claim in writing, reply through your lawyer.

Generally such calls are received from recovery agents, you may refuse any liability and record all their misbehavior on phone and on visit.

Loan is time barred after three years.

Kumar Doab (Expert)
19 June 2017

Record all calls and visits.

Ask them to write on letterhead under original seal and signature thru Redg. post.

If there is NO admission of debt by CC holder in all these 10 years then it might be hopelessly time barred.

Sudhir Kumar (Expert)
20 June 2017

If you admit debt, even on telephone, now then the bank will be happy as their limitation will be revived and they can file civil suit within three years from now.

Inderpal Singh (Querist)
20 June 2017

They called and I told them I have no liability towards the bank and will not take any calls. If they have anything to say put it in writing.
Is it correct that answering phone calls can revive liability or it is revived if I give something in writing. I have recorded the call. When can I approach police to stop the phone calls.

Advocate Bhartesh goyal (Expert)
20 June 2017

yes Bank's claim is time barred.

Rajendra K Goyal (Expert)
20 June 2017

Agree with the expert Advocate Bhartesh goyal, do not accept any liability, give nothing in writing.

Kumar Doab (Expert)
20 June 2017

You have recorded the call and have not admitted any liability and have asked to communicate in writing.


Usually the name/address/phone numbers of recovery agencies is kept by CC company on its website.


You can check.





Dr J C Vashista (Expert)
20 June 2017

Well advised by expert Mr. Bhartesh Goyal, I agree, do not accept liability/calls/notice etc.
The loan is barred by limitation.

Inderpal Singh (Querist)
20 June 2017

I have lodged NC with police. They spoke to bank person and told him not to call and harass and to proceed through court as per law of the land.
Bank told police on phone ( I have recorded it )
that no payment made and no contact between me and bank for 10 years
Thanks to panel for advice and encouragement.

Kumar Doab (Expert)
20 June 2017

There are many threads on harassment by agents and you can download judgments e.g;


http://www.lawyersclubindia.com/forum/Harrasment-by-icici-banks-recovery-agents-76271.asp#.UUc5U0pFZ_4


http://www.lawyersclubindia.com/forum/Standard-chartered-and-shaha-finlease-95120.asp#.Utl35tK6a3Y


http://www.lawyersclubindia.com/experts/Credit-card-problem--446451.asp#.Utl4H9K6a3Y


http://www.lawyersclubindia.com/experts/Credit-card-defaulter-time-limitations--446061.asp#.Us7ig9IW1MA

http://www.lawyersclubindia.com/experts/Credit-card-debt-448106.asp#.UvpMrEeBmXU

http://www.lawyersclubindia.com/forum/Standard-chartered-and-shaha-finlease-95120.asp#.Usvvc9IW1MA

http://www.lawyersclubindia.com/experts/Credit-card-payment-443961.asp#.UsvwjNIW1MA

http://www.lawyersclubindia.com/forum/Credit-card-robbery-fraud-in-china-94830.asp#.UsvwUtIW1MA

http://www.lawyersclubindia.com/experts/Harassment-by-recovery-agents--442841.asp#.UrhGa9IW1MA

http://www.lawyersclubindia.com/forum/Harrasment-by-icici-banks-recovery-agents-76271.asp#.UUc5U0pFZ_4


http://www.lawyersclubindia.com/forum/Salary-account-freeze-without-my-notice-95425.asp#.UswXWNIW1MA

Inderpal Singh (Querist)
21 June 2017

They are still calling 8 -10 times a day, but have not sent any person so far. I have not answered any call.
How to stop these calls.



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