Citi bk credit bk

francis (Querist) 15 October 2011 This query is : Resolved
can a citi bank recover agent allowed to pick up things from the house or the bike without the order of the court i had used only 7000/- and they are telling me to pay 32000/- why should i pay i was ready to pay 10000/- but they are no agreeing at all.....

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Raj Kumar Makkad (Expert) 15 October 2011
Supreme Court has took such illegal actions of bank's recovery agents very seriously. No bank has got arbitrary and unchecked power in India to do as has been done with you. You file a police complaint such goons and even obtain stay order from competent civil court of your area if they are threatening and have not done as told.

Shailesh Kr. Shah (Expert) 16 October 2011
Why are you paying 10000 against 7000/=. There is no need. Complain immediately to police.

Ghanshyam Mishra (Expert) 16 October 2011
complaint to banking ombudsmen is A good option.GHANSHYAM MISHRA AD 9899794006

Sanjeev (Expert) 16 October 2011
Credit cards usually carry a interest charge @ 2.8% per month so annual interesr is around 34% so the amount of Rs. 22,000 calculated by the bank seems valid. CitiBank and other banks do issue monthly statements also send outstanding SMS to the customers making them know the minimum amount due and the total outstanding.

Though the bank cannot lift any items like that from your home but the amount of Rs. 32K would be valid as you are bound to pay interest as per terms there is always a credit card terms agreement that is supplied by the bank along with the card but usually we dont go through it.

You can ask the bank for the Backup calculations for the amoungt of Rs. 32,000 but they would have backups.

The credit card need to be used sensibly when you used the card didnt you realise that this needs to be paid back. There is no legal solution the bank has a valid claim that needs to be paid back.

It must be more than six months before when you would have shopped for Rs 7000?

prabhakar singh (Expert) 16 October 2011
author : francis !
its fifth in succession.i have answered you they can realize from you only by filing a suit,and not by using goons ,if they are doing so,lodge a FIR,but then compromise chances would be bleak.despite 5 repeats you did not tell the transaction date on which you used your credit card once for 7k you say.
03 years from that date is the limitation for suit.
please check it.In case time has lapsed there is no hurdle before you to lodge FIR against BM and his goons .