Credit card dues time bar bank harassment
Sumit Aggarwal
(Querist) 24 January 2015
This query is : Resolved
Sir,
My client took a Credit Card from a Private Sector Bank in the Year of 2005. The last part-payment made to bank in December'2006. The Outstanding in December'2006 was approx 1 Lac.
In January'2015, Bank has made the amount approx. 3.5 Lac (incl. of All charges, late payment, interest etc) and Bank is keep on harassing my client to make the payment either at full payment of Rs 3.5 Lac or one time settlement at Rs 1.5 Lac.
Bank has arrangement with some recovery agents and those agents abuse and defame client over the phone and force him to settle the dues. Those agents never come in front of the credit card holder and they always talk over the phone with some unidentified numbers. Bank / Agents never sent any letter / notice in respect to credit card dues.
My Query is:
The credit card dues are time barred as per the limitation act, Bank can not recover the amount legally.
What steps should I take legally in favour of my client so that Bank can not harass him through any mode and issue a NDC (No Dues Certificate) without making payment to borrower because credit card dues are Time Barred in Law.
Thanks
ADV-JEEVAN PATIL, MUMBAI
(Expert) 24 January 2015
Truly there is nothing like dies time barred. Bank gives loan out of public deposits. Better settle at least to principal loan.
Rajendra K Goyal
(Expert) 25 January 2015
Record all the abuses, threatened and misbehavior calls. Lodge FIR with the police. RBI has clear guidelines in the matter refer the same on web.
Sumit Aggarwal
(Querist) 25 January 2015
Client wants NDC (No Dues Certificate) from the bank to get the benefit of Time bared under limitation act or anyother remedy under any law.
Bank has harassed a lot to client, therefore client wants legal remedy. Instead of paying to bank, client is interested to spend on legal remedies.
Client is not interested to register any criminal complaint.
