Creditcard - Hdfc credit card
1 year ago
I took Hdfc credit card 2017 1,00,000 and I paid minimum balance for 4 years after and I stopped because of loss of business I did not pay. For 10 months now they send me arbitration notice what should I do
A.Dear client,
The arbitration clause states that in case of any dispute between the parties(you and the bank), the matter will be settled through arbitration. In other words, neither party can approach the courts for resolution.
Debt arbitrators are trained to negotiate with creditors to arrive at an amicable agreement that is suitable to both the parties. Debt arbitrators can do more than lowering the amount payable. They can help identify points in the financial life that may be considered to correct bad financial habits.
When you get a notice from the arbitrator, then it's a negotiation call for clearing the outstanding amount of your personal loan (FnF settlement) they try to allow you to pay the maximum amount that you can pay. If you do not attend and pay, it will become a legal form.
The arbitration clause states that in case of any dispute between the parties(you and the bank), the matter will be settled through arbitration. In other words, neither party can approach the courts for resolution.
Debt arbitrators are trained to negotiate with creditors to arrive at an amicable agreement that is suitable to both the parties. Debt arbitrators can do more than lowering the amount payable. They can help identify points in the financial life that may be considered to correct bad financial habits.
When you get a notice from the arbitrator, then it's a negotiation call for clearing the outstanding amount of your personal loan (FnF settlement) they try to allow you to pay the maximum amount that you can pay. If you do not attend and pay, it will become a legal form.
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