Legal Question in Banking Law in India
Dear Sir, I was holding ABN credit card since 2001. In year 2007 I have settled it. Now in 2014 I started receiving calls from Kotak Mahendra Bank that they have taken over my account from RBS bank and I ow them 41000-00. As this was settled in 2007 and there was no further communication and its my bad luck the settlement letter is missing. Now they have send collection agencies persons to my house and they are forcing me to show the letter or pay the out standing.
I am job less since past 2 years I am not in a position to pay even a single rupee. Please advise me what should i do.
1 Answer from Attorneys
If the collection agents, harass you, complain to the Police as well as RBI. If the arrears are of 2007, even if you are unable to trace the settlement letter, you can take advantage of period of limitation. Stoutly deny your liability and seek Police and RBI help to ward off the threats of collection agents.
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