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Goutham Reddy (Proprietor)     16 August 2012

Outstanding credit card payment

Sir, I wish to let you know that I have defaulted in my credit card payment by about 20 days. The total outstanding amount is around Rs 1.26 lacs and the minimum payable amout is around Rs 23,000 which was due by 25th July 2012. Since my business transactions has been low for the past couple of months, I have failed in making the due payment which has duly been informed to the bank authorities. Inspite of this, I am being flooded with telephone calls since the last week over and over again and being threatened on a daily basis that people would be sent to my residence to collect the payment.

I have complained about this matter to on 14th Aug 2012 for which a reply was sent this morning that the matter is being looked into. Inspite of this, the lady tele caller has been persisting with telephone calls and literally issuing ultimatum that people would be sent to my residence to collect the amount at any cost.

Kindly advice.


 8 Replies

Rama chary Rachakonda (Secunderabad/Highcourt practice watsapp no.9989324294 )     16 August 2012

You can make amicable settlement in between you and bank. But everything should be in writing.

narendra.s.p (Chief Manager(Law))     16 August 2012

Please examine if thinterest charged is usurious. Charging of usurious interest on credit card dues is not protected by section 21-A of the Banking Regulation Act. You may file pre-suit [or pre-litigation] case in Lok Adalat

Kumar Doab (FIN)     16 August 2012

"lady tele caller has been persisting with telephone calls and literally issuing ultimatum that people would be sent to my residence to collect the amount at any cost.'

It can not be done. Handover the call recordings and person if any comes to your residence and creates nuisance to police.

The call recording shall establish that you have not granted any appointment. You may demand from bank the copies of letters/notices sent to you by redg. post only and name{s} and address of all collection/recovery agencies to whom your name has been sent .Repeated call in a day are not permitted by RBI. You may go thru master circular of RBI on CC operation of the banks.

You can offer to pay in interest free installments. Refrain from writing too much. Obtain advice from your lawyer and let your lawyer draft and structure your representations.


M.S.R.Murty ( Manager (Admn))     17 August 2012

Dear Sir,

You yourself admitting that you are in default.  Bank means it is public money.  What Mr. Rama Chary suggested is good.  Look for amicable solution or try to convince the Bank Authorities for more time to settle the issue.




Kumar Doab (FIN)     17 August 2012

While you should endeavor to settle the payables to bank you or for that matter no customer should tolerate the goondgardi approach of the bank{s}. Despite clear instructions by regulator and bodies like RBI, BCSBI, IBA and reprimand and penalties/punishments banks flout the norms, rules, and law of the land. In case of credit card  it is lure of heavy income and profit which moves the bank to flout norms 3.75% per month on daily accrued basis. Banks are habitual offenders. ICICI bank has been pnealized for pushing a customer to an extent that he committed sucide.

You can access decided cases at:


Kindly note this rate of interest+ later fee+ finance charges etc are not approved by any lawful authority.

While the principle amount or any amount borrowed is good money the illegal charges are not.

Bank would be eager to settle and recover principle amount and in all probabilities shall agree for  an amount suitable to you if you negotiate properly. Bank want to extract as much as possible by adopting tactics, coercion, threat, pressure and shall come to negotiate the moment it realizes that you are a aware citizen.

Bank has avenues available to it for collection of its dues which also includes Lok Adalat, courts of law.



First of all give the requet to CANCEL your card with immediate effects. Secondly, lodge a police compliant regrding the telephonic harrasemnt and mental torture against the DSA / telecaller. The reason for cancellation of the said card is as per the apex court judgement that banks cannot charge late fees and other illegal charges once the card is cancelled. Moreover, you may also write for amicable settlement and keep the copy of the same your your record. Do not mention or admit any liablity in the said letter. You may sue them in consumer court for mental harrassment / stress and trauma. As per RBI act, telecallers cannot call you in your busy hours if you inform them. Relax, it is their way of harrassment, you try your way of harraassing them. But you will have to pay the original amount and the interest (can also be negoitated).

ANIL (SUPERVISOR)     23 May 2013

I had a cedit card with ICICI 2008 I resigned from my job and went to abroad. at that time I had a due of  Rs 8000 (Not sure) as I didn't receive any hard copy or soft copy .Now after 4 years some body called from ICICI Chennai and sying that i have a due of 125000 Rs on my card and asking me to pay it immediately otherwise they will forced to file a suit against me. Also they calling my neighbours and my family members and using abusive words

can any body give opinion that how can I manage the situation and is there is a limit period for this credit which is already more than 4 years


Pl give valuable opinion

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