simantwalia 08 August 2017

Hdfc bank credit card non payment

Hello Experts....I am using a credit card of HDFC bank for last 7-8 years. I was alloted a limit of 15000 in the begining and it reached a limit of 4 laks. I am unemployed for last 5 months and unable to pay emis I am holding on credit card.

Some time ago I was getting calls from their branch of vikas puri to settel it in 1.5 lakh. He said pay 31000 & rest 1.2 will be converted in 12 emis and all dues will be zero & I would be able to use my card further.

Now, I am getting calls from their legal dept. for payment of apx 1 lakh in next 24-48 hours to stop the NPA tag on my credit card. They say pay 1 lakh (APX) to continue the card and rest will be converted in to EMIs and rejected the claim of 1.5 as settelment amount and said bank wont make more than 8 EMIs to settel the card and amount would be around 3 lakhs as bank provides only 30% discount.

I am confused as whom to trust

Can someone put some light on it like what to do in such a situation as I am unemployed and cant pay 1 lakh in one go.

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3 Replies

(Guest)

Credit card is a big nusance and the young generation fail to understand it. It charges 24% as rate of interest. Once you get trapped in the mayajaal of Cedit card, its difficult to come out.

Did you had a written communication with the folks at Vikas Puri ? Have you received an email from Legal Dept ? Often the Branch folks are not aware of Bank loan policies and its always better to talk in person with the Legal folks, put down your condition and agree for next course of action.

you must have everything agreed in BLACK and WHITE after meeting bank officials in person more specifically the Legal Dept..

My sincere suggestion, come out of this credit card ASAP

simantwalia 09 August 2017

Thanks fro your suggestion....I am looking for the legal aspetcs/rights of me as a customer and bank as a lender.

Also, what would be the consequences of a legal suite filed in a court towards me and bank if I am willing to settel it & pay in EMIs.

Many thanks in advance.

Will Jade 19 January 2018

First thing when dealing with such situation, get everything written. Secondly, its best to go for settlement sooner or later you have to pay it out. And for next time when you apply for a card. look for in-depth reviews before selecting the card.