Settlement of credit card

This query is : Resolved 
 

(Querist)
12 June 2009

Sir,
I want to make settlement with icici bank in respect of credit card payment the bank give me following settlemet letter i want to know whether the letter is proper so that i would not have face any legal precedding in future i will be thank full if your godself suggest me any other things in this regard.

Date : 11/06/2009 Ref : ICNO1DEL/062009/9328/2

Private & Confidential

Santosh Kumar Jha
Shanti Construction P ltd
S2 Gate No-1 Badli Ind. Area-1
Delhi

Sub : Settlement of dues on ICICI Bank Credit Card Account # 4477468607818007

Dear Sir/Madam:
This refers to your discussion with the representative of the bank.

In View of the exceptional circumstances as explained by you, we confirm the acceptance of Rs.27,000/- (Twenty Seven Thousand Only) in 2 (two) monthly installments as full & final settlement on the above mentioned card account by cash/cheque.

REPAYMENT PLAN 1st instalment of Rs. 13500 payable on 14/06/2009 , (cash)
2nd instalment of Rs. 13500 payable on 07/07/2009

The above full & final settlement is being granted on a one-time basis without setting any precedent and timely payment is essence of this settlement offered to you.

Should any cheque issued after the date of settlement letter be dishonoured or amount of any installment is not paid within aforesaid due dates, the above settlement would stand null & void, and you would be liable to pay the entire revised outstanding as per the current status.

This communication is expressly in reference to the above card account only and is strictly confidential.

Yours Faithfully,
For ICICI Bank Ltd


Authorized Signatory Received & Accepted
(Vineet Tangri ) (Santosh Kumar Jha)
Dated : ____/___/___


Manish Singh (Expert)
12 June 2009

provide following info :

1. are going to stop using the credit card afterwards?

2. if not then does this ID "Ref : ICNO1DEL/062009/9328/2" state all the particulars about the subject matter?

3. "Should any cheque issued after the date of settlement letter be dishonoured" --this is ambigous and as per my view it should be written as 'Should any cheque issued after the due dates of settlement under the settlement letter be dishonoured"

Uma parameswaran (Expert)
14 June 2009

The letter seems proper and take the risk to settle the payment according to the instructions in the letter.



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