Legal Question in Banking Law in India

Credit Card collection

hi,

Thanks for your attention.

I have a credit card. there were quite a few erronious interest entries which were not reversed by the bank inspite of repeated letters/calls. Now the interest has grown high and I had stopped paying the interest and principal due on the card since bank is not clearing the disputed interest. since the interest rate is 3% pm, it has now grown to huge amount. bank has sent a legal notice to me.

what is the recourse I have. should I pay the amount and then dispute or how. can I deny the payment. will the interest at the same rate will be charged till I clear the payment? or what rights do I have.


Asked on 9/16/04, 4:35 am

1 Answer from Attorneys
Mohit Suri Mlegal: The International law firm in India

Re: Credit Card collection

If the etries are erroneous do not pay at all and under no circumstances give a check or make a promise to pay in writing. Money paid once can not be recovered easily from a bank.

I have personally helped a lot of people settle their credit card claims. I will nedd to see more details before I advise you further.

Do not worry about the consequences. We will settle it for you.

Kindly send your details by email and then get in touch.

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Answered on 9/16/04, 5:06 am


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