Credit card due settlement - period


Respected Sir,

 

I was using ABN AMBRO Bank credit card in the year 2009, that time my outstanding due was around Rs.85,000/- du to medical issues i was bed return for 3 yrs and was not able to pay any amount to bank. Even after few years banker also stop calling me for recovery.

Now, I got a call from Kotak Mahendra Bank, say that ABN AMBRO bank was merged with Kotak, so i need to pay the credit card dues of Rs.2,50,000/-.

Now also iam not working due to my health issues and my family is feeding me, the bank recovery agents are dialing calling me and harassing me to pay the due.

Kindly advice, what legal action can i take with the bank. As per information i got, any credit card dues beyond 5 years, it is not compulsory to pay, its a wish of the borrower to settle. I agree CIBIL score will affect.

My request is to how to go about this, i dn't have money to pay any thing to bank.

Regards,

Varun Chandra

 
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2009 dues being followed up in 2019!

Have you signed any papers either from ABN Amro or Kotak Mahendra from 2009 till date?

 
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Retired employee.

The limitation period commences from the date of actual demand.  The bank is not a charitable institution to waive Rs.85,000/- as every defaulter tells the same story, and it is not a bank's money and they have to refund to depositors.  If the cardholder is unable to pay, the bank simply sells away that accounts through special vehicles to some goondas and they will never spare any defaulters and the experience with them is definitely not going to be pleasant.  Contact a local advocate for his guidance.

 
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Advocate

Facts posted suggest that the debt is period of limitation. But still, the recovery agents can pester you.

 
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Shivaraprasad sir,

From 2009 to till date i have not signed any documents to ABN AMRO or Kotak for the debt due.

 

 
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I agree with recovery can be posted, i want to know the legal issues to find the solutions, i dont want to pay any money to bank goondas. I want to file a case to settle the matter.

Even i want to know, how to teach a lesson to this bank goodas, because of commissions from bank there are torching the innocent or poor people for recovery. Why cant they do the same to big shoots who are defaulters to bank like ( Mally. Niraav Modi, all big politians).

Like this torcher from bank goondas, one of my know person committed suised for a sake of Rs. 72,000 due.

Thats way, i want to settle this in court by paying minimum amount due and taking maximum time to settle that to in instalment. 

 

 

 
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Retired employee.

When you have already bent upon to evade the legitimate money payable for the bank, for using the credit card through litigation, your advocate can give proper guidance. In the forum members can only advise to cut down the issue once for all for mental peace and never advised defaulters to go to court and file cases against a banker that deals in public funds..

 
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Scientist/Engineer

You have to pay the bank the due amount. But that  is a civil dispute. If they employ goondas for the purpose, it is a criminal offence punishable under IPC. You approach the police or magistrate preferably through a criminal lawyer. If you go through lawyer police will take you more seriously. At first your lawyer can write to the bank not to engage goondas, that you will file criminal complaint against the bank and what will be the punishment under law for their action.

 
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Scientist/Engineer

Has the bank written to you saying that they have transferred your liability to another agent or has the other agent produced to you any record or written to you claiming the amount? If you have not got anything in writing from the bank or goondas, you are more on sure ground.

 
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