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Re:credit card

(Querist) 30 May 2012 This query is : Resolved 

Hi,

I made a Citibank Credit Card in 2006. From Sep, 2008 I didn’t pay the payment to them, due to some unavoidable circumstances. Now, in 2012 I received the email from their side to clear the outstanding on the card. (clear the outstanding on the card through email, is it legal or fraud by any person).

I would like to know that what is the time limit by which bank could recover the Credit Card dues.

As I am working Abroad, will they be able to harm my present job or what action they could take.

Awaiting for your reply.
adv. rajeev ( rajoo ) (Expert) 30 May 2012
Time to recover the dues by filing a suit is 3 years. What is time limit given to you to repay the dues?
AMAN (Querist) 30 May 2012
Hi,

They were saying that if I will not clear their dues by 8th June, 2012, they will take Civil/Criminal action against me.

If the recovery of dues limit is 3 years, so wht action bank will take, as I didn't pay from Sept.2008 and now they are asking abt their dues after 4 years i.e., in 2012.

Pls.clarify.
SAINATH DEVALLA (Expert) 30 May 2012
Could you please mention the date till the card is valid?Did you get the mail directly from the bank?Have you ever given them cheques?
SAINATH DEVALLA (Expert) 30 May 2012
Aman,
There is no time limit for recovery of credit card dues.Till now all these years you must have received a number of reminders and the monthly statements as well.Loan will become NPA if you are a defaulter but not credit card.But there are ways and means to escape.Don't give any reply if you have received the mail from any of the recovery agency.
ajay sethi (Expert) 30 May 2012
if you have the funds pau off your dues . bank is charging 36%per annum .

you are working abroad must be earning well arrive at an settlement with bank . if you are a defaulter your CIBAl score will be affected and you will never get any bank loan.
ajay sethi (Expert) 30 May 2012
the issue as to whether claim is barred by limittation would depend upon facts of your case . if no payment has been made after 2008 claim would be barred as you have neither made payment nor acknowledged libaility
Advocate M.Bhadra (Expert) 30 May 2012
Settle the matter with the Bank,they can file a suit within three year,but generally Banks does not prefer to file a suit for credit card matters.You are safe in aboard as this is a nature of civil proceeding.
Suhail A.Siddiqui (Expert) 30 May 2012
nothing remain to add.
Shonee Kapoor (Expert) 31 May 2012
Settle the matter with the bank, that is in your best interest.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com


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