Dear Sir/Madam
The HSBC agents offered me a credit card in 2005 by regularly calling me, I have received and used the card for some transactions. I have not received any statements and only I received calls from HSBC about my payments. I have requested them to send to my personal email. I have paid amounts upto 4000. I have not received any statements on email. I lost the card in aug 2005 and reported the loss by phone to the bank.
I have changed my company and also went abroad for sometime. I have not updated any address or phone details. Now after 5 years HSBC calls me and aksing me to pay 1.5 lakh outstanding. The reason they say is I have made transactions upto 11000 and paid only 4000. So the remaining 7000 and some late payment charges and with interest for these 5 years add upto to 1.5 lakh. They are saying I can pay 1 lakh and they will close the account.
Whats is the best approach I have? I cannot settle that much huge amounts, I can only settle any actual transactions which were missed.
I have approached lawyers but the lawyers ask me to file a law suit againist the company. Please advice me what would be the best approach to take, ALso are ther Debt settlement negotiator availeble in Bangalore.
BR
Prasad
