Harrassment by bank
nivedita sharma
(Querist) 21 February 2014
This query is : Resolved
I was fed up of the icici bank agents for credit card recovery. i had gone to the police station but to my biggest shock when the agents called me on my cell when i was in police station i forced the inspector to take call on my behalf but he hesitated.but when i forced him to do so he spoke to the agents very politely in marathi and after hanging up he is being partial on their side and telling me that this is a civil case and we cannot do anything in this case.ashamed of mumbai police...
with no other option i approached the bank directly and ask them for settlement..they agreed to settle the amount of 84000 in 54000 in 7 installments.they want PDC and they said that i ll receive the no due certificate only when the last installment is cleared.online i have studied people complaining that icici bank makes false promises of providing no due certificate after taking installments and then asks for balance money also.what should i do?
ajay sethi
(Expert) 21 February 2014
ask in writing from bank that they are willing to receive sum of Rs 54,000 in full and final settlement of the claim . that amount shall be paid in 7 equated monthly installments
nivedita sharma
(Querist) 21 February 2014
should i give them PDC's? what documents should i ask them to provide me before i hand them the cheques as i have been reading that they take payment and promise to give the no due certificate but never provide and again come up asking for balance amount.I have read this on blogs of consumer court online...
nivedita sharma
(Querist) 21 February 2014
if they say that no due certificate will be provided after the last installment is cleared??
http://www.consumercourt.in/credit-card/120689-icici-credit-card-trauma-harassment-false-commitment.html
the above thread are by many people who have gone through tough time coz of icici bank
Guest
(Expert) 21 February 2014
No Never Give PDC to them .Good that you have made a study about them.They would simply account all your payments towards interest and they will keep demanding you for ever.Consult a Good Lawyer and file a Case in Lok Adalat for a permanent Remedy.Spending Few thousands as Lawyer Fee would Fetch You a Permanent Remedy and that Too Reasonably.Demand them to Reduce More For Settlement in Lok Adalat and Request More Time also.You Could Give Pdc Thro Lok Adalat after confirming with your Advocate.You had Faced all the worse going to Police Station Etc,So Be Bold
Guest
(Expert) 21 February 2014
Also Note the Manager Level People in Such Banks Keep Changing Very Often When You Approach after few Months You will not get proper Response also
Rajendra K Goyal
(Expert) 21 February 2014
Till they issue the letter that this amount is towards full and final settlement and after last installment clearance letter would be issued do not pay any amount on verbal assurance.
Better avoid giving the PDC.
You can go on complaining to RBI, their Head Office about misbehavior of the recovery agents. Record all their misbehavior before sending any complaint.
If you have sufficient proof about their misbehavior you can file direct complaint in court. Consult local lawyer.
nivedita sharma
(Querist) 21 February 2014
if they give a letter of settlement stating that the amount in pdc is against the full and final settlement then too i shouldnt give them?
nivedita sharma
(Querist) 21 February 2014
the only thing which is bothering me is that if i create another dispute with them their recovery agents will start calling in my office,my boss,my parents,my building society people,etc which they have already done before..is this permitted by RBI to the banks?what should i do if they start all this again ?
Guest
(Expert) 21 February 2014
Consult a Local Lawyer,Serve Notice and Take his Guidance for Ready Support and Protection and his presence during any Settlement Of your choice.
Raj Kumar Makkad
(Expert) 22 February 2014
I do agree with the opinion of the experts hence no more to add.
Rajendra K Goyal
(Expert) 22 February 2014
Recovery Agents have no right to call odd time.
RBI in its circular has instructed as under:
Methods followed by Recovery Agents
REf: Master Circular- Loans and Advances – Statutory and Other Restrictions dated 01.07.2013.
(ix) A reference is invited to (a) Circular DBOD.Leg.No.BC.104/ 09.07.007 /2002-03 dated May 5, 2003 regarding Guidelines on Fair Practices Code for Lenders (b) Circular DBOD.No.BP. 40/ 21.04.158/ 2006-07 dated November 3, 2006 regarding outsourcing of financial services and (c) Master Circular DBOD.FSD.BC.17/ 24.01.011/2007-08 dated July 2, 2007 on Credit Card Operations. Further, a reference is also invited to paragraph 6 of the "Code of Bank's Commitment to Customers" (BCSBI Code) pertaining to collection of dues. Banks are advised to strictly adhere to the guidelines / code mentioned above during the loan recovery process.
BAALASUBRAMANNYAMM
(Expert) 22 February 2014
agreed with Mr. Ajay Sethi. Better to take an undertaking letter from the bank for closing of the account @ Rs.54,000/-towards full and final payment of the total due amount, payable in 7 installments.
T. Kalaiselvan, Advocate
(Expert) 23 February 2014
At this stage, it is always better to issue a legal notice asking them to refrain from indulging in any type of illegal activities against you especially in the light of RBI guidelines on this issue. Endorse a copy of this notice to the jurisdictional police inspector with a copy to the the police commissioner. If the torture still continues, lodge a complaint with the police commissioner directly along with the copy of the legal notice. If on negotiation, if the negotiated amount is okay with you, you may obtain the same in writing about the full and final settlement and modalities of seven installment payment towards the settlement. If they donot agree to endorse the issuance of no due certificate at the end of the agreed settlement, there is no use in entering into such an agreement. Always avoid issuing PDC.
Dr J C Vashista
(Expert) 23 February 2014
Proceed as advised by experts, I have similar opinion and fully agree.
SHIRISH PAWAR, 7738990900
(Expert) 21 February 2014
