manoj harikrishnan (clerical) 19 July 2012

Credit card

i have received a legal notice from M/S Shaha Finlease Limited stating that they have taken over all credit card dues, my last payment to the said card was made during 2004, and i shifted from chennai and now settled in Ahmedabad, they have informed that a sum of Rs.1,35,000/- is outstanding as on date. I am not in a position to clear the dues as i am not able to take loan owing to this default, kindly guide me whether i will have to pay the full amount -or any settlement could be reached and guide me in this regard to get cibil clearance also-waiting for your reply

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4 Replies

Kumar Doab (FIN) 19 July 2012

You have been shifting your address. How come you have received this notice?

Have you been informing your new address (es) to the CC Company?

Or did you provide your permanent address to CC Company in CC issuance form? If yes did the company deliver any communication notice to you? Have you exchanged any communication since 2004 with CC Company? Did the CC Company inform you that your debt has been taken over by its agent? Is their any clause in CC issuance form signed by you that you’re a/c can be taken over by its agents?

Approach a competent and exeprienced lawyer in such matters. Based on facts and inputs given by you your lawyer may opine that issue is time barred.

You may find other threads at following links relevant.

https://www.lawyersclubindia.com/forum/Re-Credit-card-settlement-60790.asp#.UAe5jt0Wrts

Discussion > Others > General Discussion > Credit card settlement

And

https://www.lawyersclubindia.com/forum/Standard-Chartered-Bank-Sold-My-Banking-Credentials-to-Shaha-39265.asp

Discussion > Business Law > Banking > Standard Chartered Bank Sold My Banking Credentials to Shaha