Credit Card Issue
3 years ago
Hello, I received a credit card in 2018 ,n it's credit limit was 61000, I used the amount but I have also paid half amount to the bank. If paid the amount till October n after that one of the bank employees asked me to stop paying n he said wait for 4-5 months thn Bank will forward your case to recovery team and in that condition you can finish this matter with20 thousand .That time the amount was 58 thousand n now it has became 90 thousand .Now that employee is forcing me to take settlement n I have to pay 42000-44000 in six installments .I am not ready for that as per our conversation I want to pay only 20 thousand ,I can't pay more than that. Please guide me what I can do in this situation or what kind of action HDFC bank can take against me. Kindly guide me.
A.Bank has every authority to recovery. You can use following judgment if recovery agents approach you. Please give me Rank 5 if you feel my answer helped you.
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Dear Sir,
Please get issue a legal notice on the basis of following judgment.
ICCI Bank Limited vs. Prakash Kaur case,
The Supreme Court in a landmark judgement reiterated its earlier stand that banks cannot deploy musclemen for recovery of loans from defaulters thus forcing them to end their lives.
"We deem it appropriate to remind the banks and other financial institutions that we live in a civilised country and are governed by the rule of law," a bench comprising Justices Tarun Chatterjee and Dalveer Bhandari said.
The court while dismissing the ICICI Bank's plea refused to delete the Delhi High Court's remarks that held the bank and its musclemen responsible for abetting a youth to commit suicide by humiliating him and taking away his motorcycle financed by the largest private sector bank.
It also asked the ICICI Bank to to pay Rs 25,000 as cost of this litigation to the respondents within three weeks and directed the Delhi Police to conclude the investigation against the bank expeditiously within three months, keeping in view the gravity of the allegations.
The court also directed the concerned Deputy Commissioner of Police to submit the investigation report in the Delhi High Court.
According to the court, complaints received by Reserve Bank regarding violation of the above guidelines and adoption of abusive practices followed by banks recovery agents would be viewed seriously.
Reiterating the RBI Guidelines on Engagement of Recovery Agents, the court said, "The Reserve Bank may consider imposing a ban on a bank from engaging recovery agents in a particular area, either jurisdictional or functional, for a limited period. In case of persistent breach of above guidelines, Reserve Bank may consider extending the period of ban or the area of ban."
"RBI had expressed its concern about the number of litigations filed against the banks in the recent past for engaging recovery agents who have purportedly violated the law," Justice Bhandari, writing the verdict for the bench, stated.
RBI in a letter accompanying its April 24, 2008 Guidelines had stated that it might consider imposing a ban on a bank from engaging recovery agents in a particular area, either jurisdictional or functional, for a limited period.
ICICI Bank had moved the apex court seeking deletion of some paragraphs in the High Court order which had said that "...the proximate cause of death of the deceased that led him to commit suicide was on account of humiliation caused by the Bank people from where loan was taken by him."
"The modus-operandi employed by the banks like ICICI for realisation of their loan amount and for recovering the possession of the vehicle against which loans are given is extra legal and by no stretch of imagination they can be permitted to employ musclemen and goons for recovery of their dues even from a defaulting party," the High Court had observed.
The High Court order had come on a petition filed by Shanti Devi Sharma, the deceased's mother, seeking a probe against the ICICI bank and its staff for the unlawful action, which led to the suicide of her 34-year old son Himanshu Dev Sharma.
Sharma had committed suicide in October 2005 by hanging himself at his house after he was allegedly intimidated and humiliated in front of his neighbours and family by recovery agents employed by the bank for recovering the loan amount taken for his motorcycle.
The ICICI Bank had contended that it was within its rights to recover loans and had followed the required procedure for recovering dues.
=====================================================
Dear Sir,
Please get issue a legal notice on the basis of following judgment.
ICCI Bank Limited vs. Prakash Kaur case,
The Supreme Court in a landmark judgement reiterated its earlier stand that banks cannot deploy musclemen for recovery of loans from defaulters thus forcing them to end their lives.
"We deem it appropriate to remind the banks and other financial institutions that we live in a civilised country and are governed by the rule of law," a bench comprising Justices Tarun Chatterjee and Dalveer Bhandari said.
The court while dismissing the ICICI Bank's plea refused to delete the Delhi High Court's remarks that held the bank and its musclemen responsible for abetting a youth to commit suicide by humiliating him and taking away his motorcycle financed by the largest private sector bank.
It also asked the ICICI Bank to to pay Rs 25,000 as cost of this litigation to the respondents within three weeks and directed the Delhi Police to conclude the investigation against the bank expeditiously within three months, keeping in view the gravity of the allegations.
The court also directed the concerned Deputy Commissioner of Police to submit the investigation report in the Delhi High Court.
According to the court, complaints received by Reserve Bank regarding violation of the above guidelines and adoption of abusive practices followed by banks recovery agents would be viewed seriously.
Reiterating the RBI Guidelines on Engagement of Recovery Agents, the court said, "The Reserve Bank may consider imposing a ban on a bank from engaging recovery agents in a particular area, either jurisdictional or functional, for a limited period. In case of persistent breach of above guidelines, Reserve Bank may consider extending the period of ban or the area of ban."
"RBI had expressed its concern about the number of litigations filed against the banks in the recent past for engaging recovery agents who have purportedly violated the law," Justice Bhandari, writing the verdict for the bench, stated.
RBI in a letter accompanying its April 24, 2008 Guidelines had stated that it might consider imposing a ban on a bank from engaging recovery agents in a particular area, either jurisdictional or functional, for a limited period.
ICICI Bank had moved the apex court seeking deletion of some paragraphs in the High Court order which had said that "...the proximate cause of death of the deceased that led him to commit suicide was on account of humiliation caused by the Bank people from where loan was taken by him."
"The modus-operandi employed by the banks like ICICI for realisation of their loan amount and for recovering the possession of the vehicle against which loans are given is extra legal and by no stretch of imagination they can be permitted to employ musclemen and goons for recovery of their dues even from a defaulting party," the High Court had observed.
The High Court order had come on a petition filed by Shanti Devi Sharma, the deceased's mother, seeking a probe against the ICICI bank and its staff for the unlawful action, which led to the suicide of her 34-year old son Himanshu Dev Sharma.
Sharma had committed suicide in October 2005 by hanging himself at his house after he was allegedly intimidated and humiliated in front of his neighbours and family by recovery agents employed by the bank for recovering the loan amount taken for his motorcycle.
The ICICI Bank had contended that it was within its rights to recover loans and had followed the required procedure for recovering dues.
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A.1) You had received Credit Card in 2018 of HDFC bank with a good limit & you also re-paid some amount right
2) Which Bank employee told you to stop paying the Bank Credit Card Dues?
3) You should have taken in writing, Now you have made a mistake by NOT paying the Bank dues.
4) You have lost all your credit in the Finance Market, You will NOT get any kind of Personal loans in future
5) Now EVEN if you are thinking of Settlement then too your name will be there in CIBIL –NEGATIVE
6) As per my opinion you should NOT default the Bank if you have a good Financial situation As to why become a Willfull Defaulter
7) Now is this same BANK PERSON / that employee is forcing you to take settlement of 42000-44000 in six installments, then DONOT make such settlement. For such a issue contact me from paid consultation
If you realize my professional skills, the time & efforts put in by me needs to be truly appreciated, and then Please “CLICK MY LIKES/ THUMBS UP/GIFT” button shown below this reply format & also CLICK/ WRITE a “REVIEW” in 5 star as I have answered your query in detail. Do show me the entire set of documents & I shall be able to guide you more into this matter.
Your query is answered in detail; also you can call me back for the same.
We can help you in getting done the same & Complete Legal Documentation works.
Hope this information is useful
ADV. ANISH P (High Court)
2) Which Bank employee told you to stop paying the Bank Credit Card Dues?
3) You should have taken in writing, Now you have made a mistake by NOT paying the Bank dues.
4) You have lost all your credit in the Finance Market, You will NOT get any kind of Personal loans in future
5) Now EVEN if you are thinking of Settlement then too your name will be there in CIBIL –NEGATIVE
6) As per my opinion you should NOT default the Bank if you have a good Financial situation As to why become a Willfull Defaulter
7) Now is this same BANK PERSON / that employee is forcing you to take settlement of 42000-44000 in six installments, then DONOT make such settlement. For such a issue contact me from paid consultation
If you realize my professional skills, the time & efforts put in by me needs to be truly appreciated, and then Please “CLICK MY LIKES/ THUMBS UP/GIFT” button shown below this reply format & also CLICK/ WRITE a “REVIEW” in 5 star as I have answered your query in detail. Do show me the entire set of documents & I shall be able to guide you more into this matter.
Your query is answered in detail; also you can call me back for the same.
We can help you in getting done the same & Complete Legal Documentation works.
Hope this information is useful
ADV. ANISH P (High Court)
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.This is an enforceable debt from the bank end, malpractice should not be entertained. Ensure you pay the dues else they have all the right to file an appropriate case against you.
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