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Aniel (CMD)     08 March 2015

Not receiving loan account closure letter

Dear Lawyers,

I had a credit card payment pending for a long time and eventually the Card company sold my account to an Asset Recovery Company. Once I was able to make the payment, I contacted the ARC and paid the amount in full. I received a letter from them stating that the "account will be closed provided he cheque clearing is successful". After couple of weeks, I started sending follow-up emails for the closure letter and no response.

After giving few months time, I checked my Credit report and this card loan was removed (in previous report it was listed). So I did not mind to follow-up further. After almost 2 years, I received a call from the Bank which has taken over the loan from the ARC and asking about the payments. I have given them the details and they did not call me back again.

Nevertheless, since this could potentially be an issue in future, I am following up now through multiple channels and got hold of the relationship manager responsible for my account. He is not at all cooperative in issuing the closure letter. He asked me to drop an email for which there is no response.

Is there any legal course of action that I can initiate on them?


 5 Replies

R.K Nanda (Advocate)     08 March 2015

send them lawyer legal notice to close ur a/c and issue closing letter to u.


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1 Like

RAJU O.F., (Advocate)     08 March 2015

Send a Lawyer Notice stating the particulars of closure of card account and hence any further claims from any party considered

1 Like

Adv k . mahesh (advocate)     10 March 2015

before sending a lawyer notice first give a complaint with all the facts to the customer redressal greivances cell which look out all the complaints and within no time they will solve or even Reserve bank of india had introduced a banking ombusdman cell where they will resolve your issue within 48 hours or they will give you time and in that time period they will solve your problem 

Sunil S Nair (lawyer)     10 March 2015

I endrose statement of Learned Adv. Mahesh and in failure of it you can sort to legal remedy as suggested by Learned Adv. Nanda

Aniel (CMD)     23 April 2015

Thanks to everyone for your response. They have given the letter after my email notice that I will be initiating legal action if the letter is not received in 15 days. Issue is resolved now.

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