India Investment, Stocks, Credit Card and Retail Forum
Credit Cards / Loan Products in India => India Credit Cards / Personal & Business Loans => Topic started by: rpk123 on September 29, 2010, 11:11:31 AM
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I had a credit card issued in 2007 from HDFC Bank.
Over a period of about 8-9 months , then smaller amounts in a period of 2 years time I had used arounf 99091/-. I had been paying around the minimum amount every month regularly. ;Last 2 years the collection agengies have been very rude nad I have tried to go for settlement but some how inthe monthend the collection guys harass to such extent , it becomes impossible to keep the cool and i ended up apying the minimum amount every time.
I have paid arounf 137950/- untill date. The bank has levied 87491/- Rs as finance charges , 17060 as late fee, 10672 as service tax.
The total outstanding is still around 73000/- Rs.
I have contacted the Credit card division , they want me to pay the entire amount , they have to say that the settlement is entirely as per the bank discretion, pl assist.
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Well, negotiate with the bankers. See any of the staff is willing to help you.
Your last option will be http://credit.cardbhai.com/2009/12/how-to-settle-credit-loan-defaults.html
However, note that failing to pay in FULL, your Credit History will be damaged and further loans etc will not be possible.