hi I have 2 credit cards. HDFC & Citibank. I had some issue with both as i did not get my statement on time and i paid late. I was charges all the finance charges in the world. I have not made any payments. They keep sending me exorbitant bills. Now after 6 months when i approach them and ask for settlement they are not ready. the customer ageetns are very rude and dont want to reduce any settlemnt amount. The amounts are 10000 for HDFc & 16000 for citibank. This after i have paid the actuals and a lot over it also. Kindly advice as i might take home loan in future.
My father had taken a jeevan Anand policy bearing no. 584951943 .My mother is the nominee for it . My father passed away on 31st March '05 . The claim was made on 22-09-05 . Till now there is no resonse from LIC organisation .After that my mother also followed up several times, but there was no response. Is this what LIC is.I had a belief that LIC is a noble institution dedicated to the services of widows and orphans .But I fail to understand why the said institution has acted in a prejudicial manner in our case . The LIC slogan " JEEVAN KE SAATH BHI AND JEEVAN KE BAAD BHI" does not carry any meaning , since thse LIC people are determined to give harm to people rather than find pleasure in quick disposal of case . If any person from LIC reads this message they are free to call me @9836548608 .
Due to a technical glitch in the ATM machine the payment from my savings account went twice to my credit card payment. Its been 15 days since. I have had to call 8 times but still the money has not been transferred bank to the account. Each time they apologise and say 2 to 3 more working days. To top it all. Any further payments that I make from my credit card are being adjusted immediately against the 30K excess payment that they receivied without any authorisations and without allowing the 20 day credit period on the card. This is shocking. I personally feel that HDFC are the worst bankers.
i had a credit card from sbi bank.my jan 07 due amount was 31209.due date was 20th jan 07.i missed my due date.on 28th jan i recieved call from sbi stating that i need to pay to avoid late fee.i told them i will pay full and final and please close my card.they ask me to pay 31600.i said i will drop in drop box.but they said they will collect it other wise it will be delayed in crediting.they collected the cheques amount 31600 on 1st feb 07.and ask them to close my card.they said they will close only after clearing of my cheque.but on 5th feb i recieved one more statment showing outstanding of 1463.my cheque got cleared on time.i called up customer care.the person spoke to me rudely.saying i have to pay this .i said i spoke to ur person paying final of 31600 againt 31209.then on 19th feb i paid 1000 more as the statment showed 32600.i paid earlier 31600 plus now 1000.but on 9th march i again got statment showing my payment recieved 31600 on 6th feb and 1000 on 21st feb,but now again new outstanding of 233 of which 162 is charged on 1st of march 07.i tried of this mental agony.please help.
Dear Mr arun,(arunkumarp@gmail.com) your suggestion is very good. please advise me how to settle the credit card bill ICICI ? In my case they are telling it will be settled but , when there is a due date they come and say pay this is over due and it will be settled . This is happening since 3 months , Iam paying the minimum amount. I heard that if you do not pay only then they come to a negotiable table for full and final settlement .I heard even some people have settled the account with 40% of their purchases they have made.Please let me know weather they can file any case against us?Pl advise. regards pradeep
RE:Credit card settlement
by on Apr 27, 2008 03:31 PM Permalink
hi arun, Let me know what you did in your case. did you pay up the money. My case is similar.
RE:Credit card settlement
by prosenjit ganguly on Apr 19, 2007 11:39 AM Permalink
You can settled this but they will put your name on civil of Satyam Online for which you will not be able to take any Loans.But when you looking & applying for huge loans(Home Loans) they ignored it becuase they know the inner story.In my perosnal experience please dont go for any type loan just making habits of more savings and then fulfil your dreams.
I had a credit card from Citibank. In august 2004 I opted for the group medical insurance policy for my parents.I also opted for the accident policy. Premium for the main policy was about Rs.8000 and accident policy was about Rs.400. In august 2005 I recd a communication from citibank asking for cancellation of the policy in writing.This brochure stated that if I do not send this cancellation form it would be auto renewed. Knowing Citibank I immediately filled up the form and mailed it to their chennai office. In the meantime I received a bill with the insurance charges added up (Rs.400). I called up and asked them to cancel it since I had sent my cancellation request. Next month I received another bill where rs.400 was cancelled but rs.8000 had been added up. I called up again asking them to cancel the same. But this cancellation was never done. On furter enquiry I was told that this cancellation will be done by their chennai HO. I stopped using the card and making any payments after this as I realised that they were sending bills with late payment charges etc. inspite of my cancellation notice. After this I started getting calls asking for payment. When I told them the facts of the case they insisted on written reply which I faxed to them. Inspite of that I kept on receiving calls which started getting nastier. Last few months I have not received any calls but still getting the bills which are increasing every month and today it comes to around Rs.25000. Do you think they will go for legal action? Can I make them stop sending the bills? Logically if they have reversed one charge(400) on my written/oral request they should have done the same for the second charge (8000)also. I know I stand on strong grounds but only bothered about the later harrassement if they go to court. Do you have any advice on this? Ashwin
RE:Who taught all these tricks to Indian banks? CITIBANK
by Smita Seth on Mar 05, 2007 11:07 PM Permalink
Do you have any proof of the cancelation of the main policy? Did you courier the cancelation note? Do you have a POD or AD from the Post office? If you have some proof that you sent the same to their office in Chennai, you can approach them with a xerox of the same. Have they issued any policy to you? If they haven't then you can approach the New India Assurance ( i believe it is the company)whose address and phone no. you would find on the last policy issued to you to find out if they have indeed renewed your policy. If they haven't then there is no case to pay this premium. Even if they have and you had sent a cancellation note, you can appraoch the banking ombudsman at www.rbi.org.in and lodge your complaint.
RE:Who taught all these tricks to Indian banks? CITIBANK
by shailesh matkar on Mar 02, 2007 03:41 PM Permalink
I have had the same expirience with citibank debit cards too... intially it was "Free for life" now it has become FEE for life.
You can fill up a complaint form & send that to Citibank, there are further procedures too...
I wonder why the credit card application form or for that matter a loan application form should contain the "devil in the fine print".I believe that most people only understand the benefits but not their liabilities when subscribing for these schemes. One could press for a law which bans all kinds of fine prints and other penal terms as part of the machinery for consumer redressal. The really good companies who guard their reputation should not have any objections while the bogus ones will be identified quickly. With the regulators in place, getting such things done should not pose a problem.
Most of us face problems with Credit Card companies one time or the other. Sometimes the mistakes are from our side. Most of the time, it is the highhandedness of these banks. Everyone has their personal hate list of banks - Citibank, ICICI, HSBC, etc. The basic problem is because there is no LAW that controls credit card operations in India. Credit cards are unsecured loans, that's why they charge so much interest. However, most credit card companies have a right to "set off". Which means, they can usurp your hard earned money that is lying in your savings account, most of the time without your permission. And then the chase begins. It is daylight robbery. But no one cares. The police will say it is a civil matter and not register cases. The courts will take hell a lot of time to resolve cases. RBI has an ombudsman but he is not available most of the time. There are ways to deal with this issue. First and foremost, decide if you need a credit card. Use it for convenience, never for credit. When you use it, pay your dues in time. Be very very responsible. Even after all this if you are still harassed, stop paying. NO LAW IN INDIA CAN FORCE YOU TO PAY FOR YOUR CREDIT CARD BILLS. Just do not give any cheques that will bounce. A criminal case will be filed against you under section 138 of the Negotiable Instruments Act. THEN, ONLY THEN, YOU WILL BE FORCED TO PAY. I am NOT advocating you to cheat or not pay. All I am saying is if you get harassed by these credit card companies, try your best to resolve your issues. Put everything in writing. You should not only have the intention of repaying your money, you should also show that intention in writing. Then no one can harass you. You will harass them. But be careful. They can take money from your savings account if you have an account with them. For example, if you have a Citibank Suvidha account, and take a Citibank Credit Card, your Suvidha account will be debited under the right to set off. So NEVER NEVER have a credit card account AND your savings account with the same bank. That is a golden rule. NEVER authorize an auto-debit. Pay your bills in time and be happy. If you have any questions, feel free to write to me for free legal advice. I will respond mostly on the weekend. You can reach me on arunkumarp@gmail.com. Be credit free. Thanks..
Re: Remedy for problems related to Credit Cards
by Waqar Qureshi on Apr 25, 2009 06:51 PM Permalink
Dear Arun, thanks for the above advise and guidance. However, I am facing such a problem where someone called my parents and claimed that he is a Sub-Inspector in Delhi Headquarter and has a case against me from my Credit Card provider. So, if there is no law then how did they manage to get a case against me? Please advise. My email address is wikkoo@in.com
RE:Remedy for problems related to Credit Cards
by Arun Kumar on Feb 08, 2007 03:34 PM Permalink
Mistake in email id - correct id is arunkumarpj@rediffmail.com
