Credit card company is asking for whole amount even after paying the settlement amount.
2 years ago
I had gone under settlement with HDFC BANK , As per Bank Letter EMI were to be paid till April-21, of the Total dues I paid them 75% till April 21 , and 25% I cleared on 18th June, Now the Bank is asking for the whole amount, Please help me out what action should I take, I am jobless and returned the money borrowing from friends. Total amount due was 221000/- and settled amount was Rs 155800/-
The Bankers throwing the public amount on the streets without taking any security advancing loans on credit cards and many of such recoveries failed due to their negligence. You need not agree for their terms and ask them to go legally.
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A.If you have paid the amount to HDFC Bank as per the settlement agreement made between you and the bank, and still if the bank is harassing you to pay more money then you should definitely send a legal notice to the bank through a lawyer and then may also file a case in Consumer court against the bank.
Once there is already an settlement between you and the bank, the bank cannot ask for additional money. You can send them a legal notice stating that you have already paid the settled amount. If they do not comply, file a case against them.
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Ayantika Mondal @ Prime Legal
Responded 2 years ago
You can contact the bank redressal mechanism and sort out the issue with them. Otherwise, you can send them a reply stating your financial inability to pay the amount, and seek for alternate recourse.
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