Search Queries related to...
Did not get what you were looking for? Ask an Expert
I have read Terms and Conditions
You can alternatively post a question on Apnapaisa blog and experts from Financial fields will try their best to answer your question.
 |
 |
 |
|
Date : 9 Jan, 2009 Question
A relative of mine had a bank credit card. He received a bill dated 15.04.2006 containing Rs.750 an overdue of the previous bill dated 15.03.2006 towards renewal fees for the period Apr 06- Mar07 along with an amount of Rs.1050.00 pertaining to a transaction done on 24.03.2006 relating to the period Apr05- Mar06 . As he did not want to continue with the paid card in the times when free life time cards are issued, made a payment Rs.1000.00 after adjusting Rs.50.00 against accumulated 300 reward points. The cheque of Rs.1000.00 dropped in the drop box of the said bank in connection with above payment was accompanied by a letter mentioning that he did not want to continue with the said card. He thought that the matter was over and stopped using the card but latter statements kept charging the fees and fine and interest and even the adjustment of above mentioned reward points was not given effect. The said 79 yr old relative and also an ailing heart patient , under the impression that as he has stopped using the card from Apr 06 or there after, did not take the matter seriously and statements also did not reach him on account of his retirement from his office in 2007, as the card contained his office address only. Now in Jan 09 he chanced to visit his former office and he found that the amount of Rs.750.00 has been made to grow to the extent Rs.15500.00 by the bank and it had sent a letter also talking of recovery agent etc along with the bill as aforesaid. In the light of the above circumstances what recourse is available to him. Kindly enlighten. Answer As he had not followed the cancellation procedure, the only option left with him is to pay the credit card dues along with all the penal charges. As payment would help his credit report to improve, if he is unable to pay then there is no real solution to the problem. You can contact Credit cards" href="http://apnapaisa/2008/10/31/credit-counseling-get-help-to-deal-with-your-money/" target=_self>credit counseling agencies such as Disha Financial counseling. |
||
 |
|
 |
| 25434 | i have credit card from icici bank with credit limit of rs 30000,but i want to increase limit | ||
| 24665 | Dear sir,I am planning to take a credit card. I am a frequent international traveler.pls sugges | ||
| 24637 | I am R. Mohan Das , i have applied for credit card in your(HDFC) bank. still we have not receiv | ||
| 24634 | i have a hdfc credit card.i want to purchase a laptop using my card.which brand could i buy usi | ||
| 24618 | Dear Sir / Madam, I needed some clarity on the working of the CIBIL ratings. I have been trying | ||
| 24616 | Dear Sir, I had SBI credit card. Card was stolen and misused for Rs.10000/-. On same date i hav | ||
| 24575 | how long the name stays with in the CIBIL list ,as i was going through other articled you have | ||
| 24511 | Mr. Rungta, How do i know the reason of the rejection of my loan application? If my name appear | ||
| 24509 | Hello Mr. Rungta, I am using credit card of HSBC. Its outstanding has reached to Rs. 36000 toda | ||
| 24405 | hi sir, I have outstanding amount for my 2 credit cards each of 30,000.i was unable to pay the | ||
| 24403 | hi sir, I have outstanding amount for my 2 credit cards each of 30,000.i was unable to pay the | ||
| 24327 | Dear Sir , Mohan fm bangalore .. I have an query .. abt my citi bank card . which has been ex | ||
| 24324 | I lost my job and am not able to pay back the HDFC credit card out standing in one shot. 1.I wa | ||
| 24301 | Greetings, Myself Akhtar a software engineer. I went to Hong Kong last year where i lost my I | ||
| 24164 | Hello Sir, i am name is vijay, I have some payment due on my credit card ( My friend misused i | ||
| 23975 | Is their any rule that the bank has to give a letter in writing regarding refusal of any loan w | ||
| 23556 | Greetings Please tellme the process of settelment of personal loan and credit cards | ||
| 22279 | what is the the maximum period for which cbil keep name of defaulter in negative list, in case | ||
| 21012 | i want to apply axis bank credit card so give me info. about this processing i have a governmen | ||
| 20999 | sir i have a salary account in a a bank,and in the dus course i applaied for a credit card and | ||
| 20976 | i have credit card from hdfcbnk with limit of only 30000 from more then one year i have paid th | ||
| 20968 | I have a serious issue with the Deutsche bank credit cards division. I was not getting my month | ||
| 20949 | sir i am having an icici credit card and am asking for a settlement for my dues and the amt tol | ||
| 20946 | sir,i have a salary account in hdfc bank and i opened it in 2008 march,i used it for 4 months a | ||
| 20938 | what is the terms and conditions to take a credit card from any bank | ||
| 20780 | Sir, I have a SBI Credit Card, Which I am paying my dues regularly. I recently called the Custo | ||
| 20717 | I am holding a Credit Card, the agent offered me settlement and initially I have decided to go | ||
| 20706 | sir, my name is sunil from mumabi aroune 2yr back i use to have icici cc with a credit limit of | ||
| 20697 | is minimum paying of credit card amount offer safe? | ||
| 20696 | i have thomas cook icici credit card ,and i want to do balance transfer ,so may i know what wil | ||