HSBC card Settlement Need help CARDBHAI ( very very urgent )

[naveen]

Hi,
Hope all doing good ! Here is my credit card story ......

I have used my credit card rs 60000 in the year of 2007 end and then used to pay EMI'S regularly for few months. Later I went to onsite and couldn't pay my EMI and then I came back to india .  I handovered the pending amount to HSBC representative and asked reversal of extra charges even he agreed. After that I couldn't recieve any statements to my mailing address so I didn't get a chance to see my reversal amount .....Then I stopped making payments after few months hsbc people called me and said if you pay two EMI's we will do reversal on extra charges . So I made pending EMI's
But again they didn't do any reversal. So I called coustomer care and asked for that reversal amount .Then they said it's False commitment by representative ,HSBC didnt give any commitment on any reversal.
Then I said If you do reversal of this small amount 1500, I will pay full amount  else I will stop payments.They didn't show any intrest on anything... The I stopped making all the payments ..year of 2008 mid.

In 2009 october  I recieved an email stating that due is around 1,20,000 rs ...Few days back I called customer care but they asked me to contact Mumbai special team then I called them they said due is around 2,27,000 rs.

After few days I recieved a call from Bangalore office and he asked me to pay the prinicipal amount of 70000 rs to settle the account .
But I said I can pay intrest also but my name should be clean in CIBIL . He said it would be as Settled.

How come with in 2 years my due became thrice ?
Freinds please suggest me how to goahead with this kind of situation.....give me all your suggestions to get clean cibil status.
My account is in bangalore and currently I am working in different CITY.

Thanks in advance
Naveen.




    

[cardbhai]

1. You can get a Detailed Statement and don't be surprised on how 70,000 became 227,000. There is no MAGIC but sheer negligence from your end. Are you tracking the SKS Microfinance saga in India ? They are another blood Suckers funded by Mr. N. R Naryana Murthy.
2. You are lucky if they settle for 70K without any negative Credit Marking.
3. Go through Cardbhai.com on full and final settlement article and you should be fine.

Best

[naveen]

Dear Cardbhai,

Thanks a ton for your quick response ! Yesterday I recived below email settlement copy from the bank. Please read below mail and answer to my next post


Dear Sir,

This has reference to your captioned credit card account. While you acknowledge that the amount reflected in your last credit card account statement is indeed due, outstanding and payable to the Bank, you have represented that you are unable to pay the entire dues on account of your individual circumstances and have made a request to the Bank to consider settling the dues in the account at a sum lower than above-mentioned amount.

In view of the said request, the Bank, having favorably considered your request, has on an exceptional basis agreed to settle the said dues at INR 70,000.00, provided the said payment is made on or before november2010.
On receipt of the said payment by the bank, we shall forward you the statement of the credit card account reflecting zero dues outstanding, after writing off the deficit amount. Needless to state that hereafter the credit card relationship shall cease.

As communicated vide the credit card terms and conditions and our subsequent letters with regard to your credit card dues, your default in payment of credit dues on time and the non-settlement of the dues in entirety, has been reported to all relevant credit reference agencies.

We would like to remind you that your credit history with us is provided on a regular basis to the Credit Information Bureau of India Limited (CIBIL), an initiative of the Government of India and Reserve Bank of India. On payment of the agreed settlement amount, your status will be updated as "Settled" or "Post Write Off Settled" as per your delinquency status, with NII, outstanding, in CIBII, records.
On acceptance of this offer you shall withdraw all proceedings/ counter claims, filed by you against the Bank. Please note that failure to make payment of the above-mentioned settlement amount as per the defined equated monthly installments or dishonour of any of the settlement cheques issued by you or non-withdrawal of the court proceedings/counter claims filed by you against the Bank shall render this offer null and void.
We request you to sign the duplicate of this letter in acceptance of the settlement and other terms as mentioned herein above.

Yours sincerely,
Manager-Debt Management
Consumer`Credit risk
I________________, residing at the above address, accept the settlement at
the terms set out above.
Customer Signature:

The Hongkong and Shanghai Banking Corporation Limited

84, Gandhi Bazar Main Road, Basavanagudi, Bangalore e-mail : info@hsbc.co.in

[naveen]

Dear CardBhai,

After recieving above email, I sent an email to the bank as below.


Dear Sir,

Hope you are doing good and Thanks for helping me
 
I am ready to make the amount of RS 70,000 as we discussed but only if you accept my below conditions.

I didn’t make the payments, Because of wrong commitment given by HSBC bank representatives on the reversal amount of extra charges and delayed bank statements. I was already discussed to the customer care department and showed interest to make the full amount in the year of 2008/2009 But they didn’t accept to do the reversal as they promised . So I stopped making payments. This was already recorded

So please consider this as different case and my card should be like a normal closure of the card and the status will be closed, overdue will be 0 in the cibil report.   In any case my name in CIBIL "STATUS" will NOT be reported as any of the following - Suit filed, Willful default, Suit filed (Willful Default), Written off, Suit filed and written off, Willful default and written off, and Suit filed (willful default) and written off and post write off settled. as RBI policy say if account is settled then status of account in Cibil should be closed.

I should get hard copies of No Due certificate, full final settlement letter and Bank should with draw any legal cases against me  if any.

Thanks --




 

[naveen]

Dear CardBhai,

I spoke to the bank person about my conditions in the above email.
But he ws not ready to accept by email conditions and he was saying some blah blah . I asked him to accept through email but he is not ready to do. Also he was saying you will get No due certificate after one month after your payment . I said I will give DD or post dated check or cash ......I want NO due certificate at the time of payment But he didnt agree.He was asking me to send an email to BANK obsduman for this conditions

Do you think settlement letter through email is ok ? No due certificate after a month is ok after payment is ok ?
Do you think above setllement letter is full and final settlement ?

what should I do ? Please suggest me and save me from this headache.I really need your help on this

Thanks a lot in advance
 

[cardbhai]

Do you think settlement letter through email is ok ? No due certificate after a month is ok after payment is ok ?
Do you think above setllement letter is full and final settlement ?

1. Yes e-mail settlement is OK as long as the employee writes it from his official e-mail id say Raju@hsbc.co.in Also make sure that he doesn't put any "*" and say Conditions Apply in the e-mail. Read it carefully. e-mail is a VALID proof in India

2. Yes he has to mention that in the subject - Full and Final Settlement.

Negotiate for more amount and Press for Clean Credit History - No Settled, Write Off Default etc

Best

[naveen]

Hi Card Bhai,

Thanks a ton for your helpful responses !

HSBC executive said , He will give no due certificate after one month after making payment. OK ?

in thier mails it was written like as below .....Can I trust ?

Incorporated in the Hong Kong SAR with limited liability
************************************************************
----------------------------------------- *******************************************************************

[cardbhai]

I am talking of "*" or "#" in Fine Print and then in corner of the page they will write Conditions Apply.

[naveen]

Hi Card Bhai,

Thanks for all your suggestions,

I sent an email to Nodal officer with all my conditions like clean track record and all...so he replied as below. Please check and let me know what is this.

We regret to inform that we were not able to track your credit card
details, since you have contacted us through unsecured mode, hence we
request you to revert with the below details to assist you accordingly.

1)First name
2)Last name
3)Date of birth
4)Mailing address
5)Contact numbers

We await your further instruction.

In line with our focus and commitment to Customer Service, we trust we
have addressed your grievance in a fair and equitable manner. At this
point, we would like to mention that should you not be satisfied with
our handling of your complaint, you may approach the Office of the
Banking Ombudsman. Please click the appended link for more information
on the Banking Ombudsman Scheme - 2006.


http://www.hsbc.co.in/1/PA_1_083Q9FFKG80E20RA9Q00000000/content/website/
pdf/ombudsman_2006.pdf

We remain committed to providing our customers the best service at all
times.

Thanks ,
Naveen