Dear Learned friends,
I surrendered a credit card atleast seven years ago after clearing dues if there were any and forgot about it.
Recently when I applied for a Car Loan, the bank authorities rejected my application since the rating of CIBIL was below the norms of the bank. I got a copy of the CIBIL report and examined the reasons for low 'marks'. The reason is the 'write-off' of outstanding balance of the said credit card', amounting to Rs.40800/-. On knowing this, I initiated correspondence with the credit card people, requesting them to let me know when did I borrow any amount on credit card and how could they arrive at such figure. They did not clarify my queries to my satisfaction and recently sent a person to my residence with a proposal to 'amicable settlement' of around Rs.20000/-. As I was away from home at the time of that person's visit, I informed him over phone that I have been in correspondence with the card people and asked him not to visit our home anymore.
The objective of my correspondence with the card people is:
1. To get the negative remark removed from CIBIL report so as to get back my 'real' credit-worthiness;
2. To know whether I did take any amount on credit card, to become their defaulter. If the amount I owe to them is real and genuine, I am ready to pay without any reservation.
To my shock and surprise, I was to learn from the correspondence that the amount was 'arrived' on the basis of some late payments/ realizations of my due amounts, interest (at 40+%) on such late fee and so on.
There is no 'real debt' but only a fabricated, exaggerated and fictitiously arrived figure of Rs.40800/-. Probably as a matter of punishment (for my right act of surrendering the card) my CIBIL rating was spoiling and my personal creditworthiness is badly affected.
I am attaching the copy of their latest reply, which is self-contradictory.
I request my Learned Friends to kindly advise me on the basis of above facts, as to how should I proceed against the card people for such unfair, unethical or rather illegal business practice. Kindly suggest me remedies available as per the law of the land.
