Hi Card Bhai, I hold an HDFC credit card with a limit of 30k. Since I got it with my previous salary account, I didnt mind taking it. I have used it liberally but Never more than I can pay. my payments were always on time. sometime back I stopped getting my statemnets and there were no follow up calls. One fine day I get a letter from them stating that my outsanding has blown upto Rs.35000/-. I was surprised at tht amount but then doing the maths realised its all interest and late fees. I had put in a request for settlement and closing this account. HDFC ignored my request, saying first pay the outstanding then settlemnt can happen. All this happnd in 2010. I made my last payment in Dec 2010 for Rs.7000. Then again there was no respose from customer care dept, in spite of my writing mails to them, requesting for settlemnt. Recently, on 28th May 2011, I get a call from Debt dept asking for urgent paymnet. As I also hold a savings account with HDFC they could see how much I hav in my account...I had only 3k left so she she told me to pay 1500 at the moment and rest we can settle in instalments when she'll call me back on 1st June. I agreed. No calls came.
On 31.5.2011, a sum of Rs.22,730.82 was withdrawn by the bank and transfered to the credit card account. I gotto know that aftr calling cust care. I have not authorized any auto swipe so how can HDFC withdraw all my money, under what rule? They did not even inform me about such a thing! I have just chnged my job, I'm going through financial hardships...this month has just begun and my account balance is ZERO.
So if I'm 5 months late in making payments, bank will take away all of my money? I agree that my account has fallen under the defaulter list because of irregular payments. I Really need some advice from you...Should I pay the remaining 12k this month itself or should I make it in the next month? Also, can I go for settlement - ASKING THEM TO KEEP WTHATEVER THEY HAVE TAKEN FROM MY ACCOUNT and SeTTLE with tht? AFTER SETTLEMNT, Will I still be a part of CIBIL defaulter list? How can this effect me in future? I have been thinking about thses questions... PLS GUIDE....This is my 1st credit card and i dont wish to have any more in future!!
