Law of limitation on credit card loan
Inderpal Singh
(Querist) 19 June 2017
This query is : Resolved
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
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, Advocate
(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.
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.
