I applied for a credit card in 2004 while working for a company and gave address of the house i was living on rent in delhi. By the time the card came i have vacated that house,in the meanwhile the credit card company delivered my card to someone else without any ID proof and my signatures.

The card was misused and exhausted of its limit of Rs 15000 at one go after a year as per cc company.I came to know after phone calls started coming to me regarding its payment.i have explained to the company that i didnt get the card and hence i will not pay.they have put my name in CIBIL and I am not able to get any loans.

I have 3 other credit cards of which I am paying all the dues on time without delay in payment.

Now after 5 years again phone calls started coming to settle dues worth 1.50 lakhs ,I said i will fight in the court of law, now the company is saying to pay only Rs 6000 as one time settlement and we will send you a zero statement.  In the settlement letter they have stated that the performa is the same and stated that I am a defaulter and couldnot settle my dues and as a exceptional case company is doing this settlement

Please advise as to would this settlement be in my favour, will I be able to remove my name from CIBIL or I should ignore this or file a case in consumer forum.

Mr. Karan,

First of all you made a mistake by not informing the company about the change of your address in a situation where you have already applied for the credit card and in the process of receiving it in the near future.

However, there is a mistake from the company's side where the courier personfrom the company's side may not have checked any id proof while delivering the credit card.

Logically speaking if you didn't pay anything 5 years ago than you do not need to pay anything right now also. But, the only way to remove your name from the defauletr's list in CIBIL is by accepting the offer of credit card company.

I don't think consumer forum will be of great help to you because this case is heavily loaded in the favor of the cc company. The reason behind this is that the cc company can always argue that they delivered credit card to your relative as you were not at your home at that time. Also adding to that it was your fault by not informing the cc company about the change of address.

If you don't want companies to reject loan applications from you in the future, than cc company's offer to settle for Rs. 6000, which will remove your name from the defaulter's list in CIBIL is the only solution.

if u have any proof as to u have not received the card and u r not used the card it is better to attend court when they file case. u have no evidence better to ask lessening the settlement amount with bank / pay amount

CC company delivers the card at the address , to a person available at the address, and checks and records the ID of the person.

many companies then contacts the customer and confirms the receipt of the card and then activates the card, to enable usage. Did the CC contact you regarding the delivery of the card.Were you informed in writing ( under receipt by registered post/speed post)that your card application has been accepted and the card shall be despatched at your address soon/within.. days.

The vendor has to check the signatures on the back of the card and match it with signature on the charge slip, and if it is a photo card, the photo on the card is to compared with the actual user.

You can ask the company for the call log data, which they may not provide.You should prepare your record also.

The attatched file is of help.

My hunch is that settlement  shall reflect in your CIBIL report.

You should contact your local lawyer and show your records and based on records you may approach Consumer Forum.

dear sir

i have a credit card from axis bank.in which outstanding billing amount is 38ooo(thirty eight thousnad only)till date,from last four month i have no job and i am not able to pay this amount,and from compny side i got soo many sms and call for deposit minium amount which is 8765(eight thousnd seven hundered sixty five only) ,and that way i appied for my provinded fund to depsoited this amount,and now when the amount in debit in same axis bank account ,the company lean my acount ,please help me what i do now.and till date acooount detail i deposit on this mail,so please check the attachment aslo,and give me help in this criitcal condition

regrds

tajender singh