Kumaravasanth (Engineer) 08 October 2012

Credit card default

Hi All,

My name is Kumar and i have been defaulted for a credit card in dubai. Presently am staying in India. Somehow the bank has appointed a collection agency in India for the defaulted amount. The collection agency keeps calling me now and then for the amount. I tried to negotiate with them but at vain, they persist that they need the amount immediately. The amount is close to AED10,000. I am presently not working and do not have the amount to pay them. I asked them for a installment payment for which they denied immediately. They are threatening me that they would visit my office and get the money and they say "Get ready to face the consequences". Please advise me on how to proceed with this.

Appreciate any responses from you all.

Thanks and Regards,

Kumar.

Reply Follow

3 Replies

Raja (XYZ) 08 October 2012

Financial Institutions cannot institute criminal activities to recover debt. You can approach to local police station and file a complain against the agents those are calling you from India. However, the matter is pending at foreign country, so takeing legal steps against the company is difficult, but you can definitely stop the Indian Agents immediately. But, it is advised that you settle the matter. Send a letter by proper post to the concerned authority and as for an installment payment. All the best !

A.SUMATHY 9380902017 (LAWYER) 08 October 2012

File a injunction suit against the collection agency.

Suresh (Operation Manager) 18 March 2013

Dear All,

I have taken a credit card in dubai while working there, unfortunatley i lost my job and return back to India and i am now not in a position to repay my outstanding. Couple of months before recovery agents from India called me as they were calling from Delhi police station and threatening me for criminal offence for credit card defualt and stating that the bank had filed a criminal case on me in interpole. The worst thing is they called most of my relatives and said that i am in a wanted list by interpole and will be arrested. When i took up the matter with Gulf News in dubai on there approach and negotiated with bank for reduced full and final settlement for which they have not come on for any agreement.

Now they have send an email saying that my account is transfered to the local agent in India for collection. Please any one advice me how i should handle the local agents if they are going to disturb my family members for this. Is that any way i can legally face them if they cause trouble to me. How far it is legaly possible for the foreigne banks to handle their defaulted customer in this way through recovery agents. Please anyone advice.