Credit card

Querist : Anonymous (Querist) 10 August 2018 This query is : Resolved
I was issued a credit card with limit of 16000 rupees only in the year 2002 from a private bank.
Since the year 2002 i havent recieved any sort of statements in regards to my credit card account...due to some financial issues i was not able to keep up with the payment...But now i am able to pay the entire due amount in full with interest, However i have found out from the bank that a my total due amount is now Rs 18000 but the bank is refusing to accept the payment and asking me to respond to third party recovery agents who are asking me to pay 2.5 lakhs otherwise i will remain blacklisted in my cibil

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Querist : Anonymous (Querist) 10 August 2018
Please help me with advice

Kumar Doab (Expert) 10 August 2018
Pls don’t post as AQ and post with your ID and you can get many replies.
Your ID does not mean your email id or phone number and don’t post these also.

Kumar Doab (Expert) 10 August 2018
RBI has issued guidelines vide
RBI; Master Circular on Credit Card Operations
To supply monthly bill so that customer/citizen/Card member gets 15days before date of payment and from date from which interest/penal charges shall start.
CC issuing establishment/bank has to supply notices before declaring defaulter..or sell the debt recovery to recovery agency/ARC..
Then there are internal/private rules of CC issuing establishment/bank framed in accordance with RBI guidelines and comply with provisions of various guidelines/rules etc
e.g;
Fair Practices Code
Etc…
The agency that has bought the debt may not easily agree on anything and may not call back name from CIBIL and cleanse credit history..
If you can resolve with your skills to your satisfaction, go ahead.

Kumar Doab (Expert) 10 August 2018
If Bank employees are not convinced with your contentions and is unwilling to provide desired relief then approach higher officials and try to resolve with your skills…

Or approach a very able senior LOCAL counsel of unshakable repute and integrity specializing in Consumer/banking/Civil matters ,latest citations, LOCAL applicable rules/laws/ … and having successful track record…. and worth his/her salt…..with whom you may share inputs /show the documents/evidence for a considered opinion..
At each location three are some counsels that specialize in such matters and they are well known.
Check for such counsels at LOCAL DCDRF/civil courts, HC, SC……
Or agree with amount decided by Bank/agency and ask the lender to call back your name of list of defaulters maintained with credit bureau’s e.g; CIBIL..and cleanse your credit history( in writing) ..and pay.
Proceed as deemed fit.