suresh (associate) 19 November 2014

Settlement of credit card

Hi,

I am suresh. I got HDFC cc on 2008 and my credit limit was 10,000. I was paying regularly but in 2010 i lost job and missed to pay dues nearly for 8 months. After that i started paying regularly. Sir, from 2008 as of today i have paid more than 70k to 80k rupees and all the amount went as intrest, outstanding, over limit etc and now my o/s bal is 57,000rs. I am not able to pay that amount and want to settle my account. I called bank and they told if you want to settle you have to pay 46,000 which i am not able to pay. I tried to negotiate but they are not accepting. Please help me my salary is 9,500 and i have to pay school fees of my son. already i have paid nearly 1lakh rs for just 10,000 rs. please help me how much i can negotiate. approx how much balance should i pay. if they not agree what should i do as next step. recovery agents are coming to my home for collections. the only way left for me is to suicide. please help me in this case, our family will be helpful to you life time. please respond ASAP. please. many of my friends are telling go as per legal then you will get more discount. Is that true. if i want to go legally shoul i contact lawyer, what will be the fees and with in how many days this issue will be resolved. If i go legal even then recovery agents come to my home or what becoz i don't want my family to know this matter as my father is heart patient. please suggest me. Please help me what should i do?

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6 Replies

Kappil Cchandna (Expert Bail & Criminal Defence Lawyer at Delhi Supreme Court of India) 19 November 2014

Dear, Wait let them file a suit for recovery and they will settle it there ..... Kapil chandna adv, 9899011450

ADVOCATE Prem Joshi (Advocate/ Legal Consultant) 20 November 2014

Don't thought bad things...it will be settled....as per RBI guidelines many remedies are available to customer. If need any free advice. Call : 9891000491

Advocate Ravinder (Advocate/Attorney) 20 November 2014

You have done a blunder mistake by paying the dues 70 to 80K without going to one time settlement. The Bank people have collected this amount towards interest and now again pressurising you to pay 57,000/- more. The only course is go to the bank and discuss with Bank manager and try to pay atleast 50% of the above amount i.e. around 30,000/- and close the matter. If it does not work, you better wait for the case that is going to be filed by them as advised by Kapil Chandana.

T. Kalaiselvan, Advocate (Advocate) 22 November 2014

You wait for the bankers to file a money recovery sit,you can contest the case and also try for negotiations out of court that time.

suresh (associate) 24 November 2014

Hi all, Thank you for advices. Sir from 2012 january to till date i.e 2014 nov i have made payment of 74,000 rs. sir i can't pay remaining o/s balance of 57,000. Telecaller called and told to pay minimum balance of 46,000 which is not possible to me at this time. i told them that i wil pay 3,000 per mont as minimum due but they are not agreeing and teling to pay 46k immedietly. sir my bill generation is on 3rd december if i can't pay will they send any lawyer notice or what. because i have not missed single month payment from 2012. sir my father is heart patient and if he comes to know this matter then i don know what will happen to him. Is there any way that can we avoid recovery agent to come home for collections. Please advise. Even i asked them i will pay every month as installment and clear my bal but they are not ready to accept. I called cust care and requested to send my cc statements from 2008 but they dint do that. please help me to come out of this issue sir please. This is first and last next time i wnt go for any credit cards or loans. please help me to settle within 20k.