Hi,
Long back I have taken HSBC Gold Visa credit card (during the issuing time it was mentioned as lifetime free). It has zero outstanding. I regularly get statements with zero balance. So after some I stopped checking the email statements as it is anyhow zero balance and I am not using that card.
After one year HSBC charged annual fee of 3000 rupees which I don't aware of that and I didn't check any statements (I was under the impression of zero outstanding and not aware of charges).
Today I got call from recovery agency and mentioning that I am defaulter of HSBC card and named as defaulter in CIBIL. Then immediately I checked my statements and I realised the fact. Now that 3000 became 9500 as outstanding with including interests and fine. I never used the card for single penny.
Recovery agency is saying that 1000 rupees as full and final settlement offer.
Till now I always clean in my credit history, but unknowingly this was happened.
Can I go for 1000 rupees as full and final settlement or can I pay the entire 9500? Which one is best option to remove my name from defaulter list of CIBIL?
Experts I need your suggestion very quickly. I never thought a bank like HSBC do this without informing the customer regarding annual charges.
I want to be clean in credit history. please suggest me ASAP, it is very urgent to me. I am planning to take home loan in next month.
Thanks & Regards
Kumar
