Dear members,
This is a credit card issue, Customer had been paying credit card dues from time to time but as of Dec 31, 2021, he was due by 3 emis. Out of the 3 lakhs due he already paid only 95% of the loan. There are multiple emi in said 3 lakhs. AS the customer is due and the company has informed the multiple times to customer about EMI but only partly and dues are remaining the credit card company has again charged the customer with 3,40,000 though the customer has paid 6,50,000 for principal, interest, late penalties, interest, and other charges. The customer has made a complaint to the credit card company and after multiple requests his voice gone un heard. Customer made complaint to RBI who reject customer complaint on grounds that Credit card company has made adequate chances to customer and there is no service deficiency.
Ther are lot of judgements which clearly mentioned that any finincial lending intitution can not charge interest twice, but this case for 3 lakhs they are chargin 11 lakhs for time period between 2019 to 2021. It is pertinent to note that the entire transaction was late only by 3 months of actual tenure of emi.
How to proceed? Please advice course of action.
