legal notice regarding credit card.
Querist :
Anonymous
(Querist) 18 May 2010
This query is : Resolved
hi. i was holding a credit card of HDFC bank. Due to change of my residence, i did not receive legal notice of bank regarding payment. now they again send me legal notice and the amount which they mention to be payable is Rs. 80,000/-. But the credit limit of the credit card is not more than Rs. 30,000/-. they also talking of filing a civil suit if payment is not paid within 7 days.
Can anyone tell me what should i do and do i have any remedy????
plz reply!!!!
A V Vishal
(Expert) 18 May 2010
Due to change of my residence, i did not receive legal notice of bank regarding payment.
Ans. Did you intimate the change of address to the bank, if not then the notice is deemed to be have served properly.
the amount which they mention to be payable is Rs. 80,000/-. But the credit limit of the credit card is not more than Rs. 30,000/-.
Ans. Ask for an account copy, it is not clear as to your operations and repayments, the amount o/s. generally includes interest and penal interest.
they also talking of filing a civil suit if payment is not paid within 7 days.
Ans. The bank has right to recover its borrowings along with interest and other costs, however, speak to the bank for waiver of certain amount and one time settlement or promise them to clear the dues in a scheduled manner. Further non payment or evasion of the payment can mar your credit ratings which means you may be branded as a defaulted customer and you may lose credit facilities from other banks in the future.
Uma parameswaran
(Expert) 18 May 2010
I am supporting L.friend Vishal.Submit a written letter before the bank for time for repayment and also to waive the interest.
Pankaj Kundra
(Expert) 18 May 2010
Please ask a copy of the bills of the mentioned credit card from the bank ..Check the amount you have used and whether it is only the interest & other penal charges that has been levied or something like some insurance policy etc has been debited from your credit card.. Check the balance and ask any manager from the bank that you want to settle the account and that you need some waiver .. the amount of waiver would depend on the principle amount that is due on your card .. Do this to the earliast... Once you settle the amount with the bank manager no suit would be filed .. and pls do not believe the collection boys that come to your place for collection of dues .. Meet a bank employee and settle the card with him or visit the credit card collection department of the bank
Parthasarathi Loganathan
(Expert) 18 May 2010
All such disputes have been amicably settled out of court once the customer calls the bank and apprises his right intention to repay the debts within a reasonable period stipulated in writing.
Querist :
Anonymous
(Querist) 10 January 2012
one company want to enter into contract with auto rickshaw drivers through social group for advertisement. The purpose is to give some amount for the study of daughters of auto rickshaw drivers andremaining for the rickshaw drivers.. Can anyone tell me the specimen of the agreement. Wat to add in dat???
