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Manigandan (GM)     12 January 2011

Credit Card Dues of Over 6 yrs


I used to have a credit/card and used a little bit of it and remember repaying what i used and dont even remember what happened to the card after that. Now recently some recovery agents came calling that i had maxed out on that card 6 years ago by withdrawing cash and they said they have the statement etc.

The point is, what were they doing for 6 years ? i dont remember anything abt that debt at all. i've had many credit cards and availed several loans for the last 10 yrs and availed a car loan as recent as last year and nothing ever showed up on my credit report or else i wouldnt have got the loan sanctioned.

now the recovery agents are saying that the card was used to the tune of 50,000 and with interest now it's over 4 lacs.

i never received any kind of communication with them in all these years, either telephonic or email.

I want to know what my rights are in this case and if there is debt is time barred for recovery.. please help


 2 Replies

M.S.Bhalerao (advocate)     13 January 2011


Next time if recovery agents come to you, you get their ID, address and make a police complaint against them for harrasing you.Private recoveryagents are not allowed  as per RBI guidlines and Supreme court jidgments.

Legaly dues against  you are not recoverable.

girishankar (manager)     14 January 2011


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