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card settlement.
by Anil Kumar on Jul 21, 2007 03:40 PM   Permalink | Hide replies

i used and settled a credit cars about 7 years back.Now the bank claims at that poin of time of my settlement istalment cheque bounded(Rs.3000).

Now they say i have to pay Rs.72,000/-.they never informed me or contacted me all these years.Should i pay them or take a legal process and fight for this case.

Please advice me if some have knoweldge about these matters.

anilbobbili@yahoo.com

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  RE:RE:card settlement.
by Vikas Vadgama on Jul 23, 2007 11:56 AM   Permalink
Mr. Anil,
Also inform (by writing a letter) them that you will approach RBI & Consumer Courts or Bank Ombudsman if they didn't listen to your complaint and reverse back the charges.

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  RE:card settlement.
by U on Jul 22, 2007 03:49 PM   Permalink
Mr Anil sometimes, it happens that u want to pay to the bank but because of any reason payment is not made. Bank has a number of charges called late fee, cheque bounce penality, ------I am not an account person but with the experience of some of persons known I am sharing this.
Now take initiative to call the bank and say them categorically that I will pay the actual amount (3200) only stating that no intimation from your end was ever received. In this case they should have informed you immediately or not beyond the next month. It is in practice that the banks issue statement every month. If the statement is not issued, it is not your mistake.
So pay the actual amount only. Your mistake is that the cheque was not honored, so maximum you can pay the late fee for month. In any case not more than. Remember they can not force you. Be confident, agree to pay what ever is genuine but not like this.
Use this dangerous tool only when essential





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  RE:RE:card settlement.
by Abdul Haleem on Aug 06, 2007 09:49 PM   Permalink
i definetly agree with you, pay only what you supposed to.

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The above message is part of the Discussion Board:
Credit card: Did you know this?