Outstanding credit card payment

You can make amicable settlement in between you and bank. But everything should be in writing.

Please examine if thinterest charged is usurious. Charging of usurious interest on credit card dues is not protected by section 21-A of the Banking Regulation Act. You may file pre-suit [or pre-litigation] case in Lok Adalat

"lady tele caller has been persisting with telephone calls and literally issuing ultimatum that people would be sent to my residence to collect the amount at any cost.'

It can not be done. Handover the call recordings and person if any comes to your residence and creates nuisance to police.

The call recording shall establish that you have not granted any appointment. You may demand from bank the copies of letters/notices sent to you by redg. post only and name{s} and address of all collection/recovery agencies to whom your name has been sent .Repeated call in a day are not permitted by RBI. You may go thru master circular of RBI on CC operation of the banks.

You can offer to pay in interest free installments. Refrain from writing too much. Obtain advice from your lawyer and let your lawyer draft and structure your representations.

You can approach consumer help portals some of which have helped many consumers e.g.

pehredar@moneycontrol.com

pehredar@network18online.com

https://www.facebook.com/Pehredar

https://ashisha.com/consumer/

www.grahakseva.com/

You may go thru other threads on CC issues:

https://www.lawyersclubindia.com/forum/Re-Credit-card-settlement-60790.asp#.UAe5jt0Wrts

And

https://www.lawyersclubindia.com/forum/Standard-Chartered-Bank-Sold-My-Banking-Credentials-to-Shaha-39265.asp

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https://www.lawyersclubindia.com/forum/Credit-card-62263.asp

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https://www.lawyersclubindia.com/forum/Credit-card-dispute-transaction-done-on-unsoliciated-card-62862.asp#.UC0V7yIWrts

Dear Sir,

You yourself admitting that you are in default.  Bank means it is public money.  What Mr. Rama Chary suggested is good.  Look for amicable solution or try to convince the Bank Authorities for more time to settle the issue.

Regards,

MSR.Murty 

While you should endeavor to settle the payables to bank you or for that matter no customer should tolerate the goondgardi approach of the bank{s}. Despite clear instructions by regulator and bodies like RBI, BCSBI, IBA and reprimand and penalties/punishments banks flout the norms, rules, and law of the land. In case of credit card  it is lure of heavy income and profit which moves the bank to flout norms 3.75% per month on daily accrued basis. Banks are habitual offenders. ICICI bank has been pnealized for pushing a customer to an extent that he committed sucide.

You can access decided cases at:

Confonet

confonet.nic.in/

Kindly note this rate of interest+ later fee+ finance charges etc are not approved by any lawful authority.

While the principle amount or any amount borrowed is good money the illegal charges are not.

Bank would be eager to settle and recover principle amount and in all probabilities shall agree for  an amount suitable to you if you negotiate properly. Bank want to extract as much as possible by adopting tactics, coercion, threat, pressure and shall come to negotiate the moment it realizes that you are a aware citizen.

Bank has avenues available to it for collection of its dues which also includes Lok Adalat, courts of law.

First of all give the requet to CANCEL your card with immediate effects. Secondly, lodge a police compliant regrding the telephonic harrasemnt and mental torture against the DSA / telecaller. The reason for cancellation of the said card is as per the apex court judgement that banks cannot charge late fees and other illegal charges once the card is cancelled. Moreover, you may also write for amicable settlement and keep the copy of the same your your record. Do not mention or admit any liablity in the said letter. You may sue them in consumer court for mental harrassment / stress and trauma. As per RBI act, telecallers cannot call you in your busy hours if you inform them. Relax, it is their way of harrassment, you try your way of harraassing them. But you will have to pay the original amount and the interest (can also be negoitated).

I had a cedit card with ICICI bank.in 2008 I resigned from my job and went to abroad. at that time I had a due of  Rs 8000 (Not sure) as I didn't receive any hard copy or soft copy .Now after 4 years some body called from ICICI Chennai and sying that i have a due of 125000 Rs on my card and asking me to pay it immediately otherwise they will forced to file a suit against me. Also they calling my neighbours and my family members and using abusive words

can any body give opinion that how can I manage the situation and is there is a limit period for this credit which is already more than 4 years

Pl give valuable opinion