Mar 10, 2010 03:27 AM
9516 Views
(Updated Mar 10, 2010 03:44 AM)
I need your advise related to ABN AMRO Credit Card. I have been holding this card for a long period of time and everything was going fine, until 2.5 years back when I requested them to change my due date.
My due date is 26th of every month and I requested them to change it between 1-5 as I was in a new job and my salary date changed. They did not agree to it and what resulted in my balance going up with late fees and then extra finance and service charges levied on the outstanding amount.
I spoke to the bank and tried to explain them my situation that I am a salaried guy and have other expenses to take care of, but nobody bothered. When I discussed this with the collection people who sometimes used to call, I was suggested not to pay for few months and then they will automatically talk about settlement and will ask you to pay a nominal amount and close the case. I tried to do that but the harassment that I had face by theses people was ridiculous. I again started paying a min. due of 2500 every month. I have not used my card for last two years and my principal balance was 32000, however now it has been raised to 45000 including the late fees and other charges.
A year back I spoke to the bank people and talked about settlement, they offered me the settlement amount of 38000, I agreed to pay that and asked for the settlement letter. The guy who had come to my place for discussion advised me to make payment more than my minimum due and not to go for settlement as then my name would show as defaulter in CIBIL and I will face a problem in future.
I thought about it and made a payment of 11000 at that time and then made few other payments more than my minimum due. I still did not see my balance going down. When I checked with bank, they say that it shows that there was a word about settlement but no letter was issued. On top of it the people whom I spoke to about the payments and settlement have left.
It has been over a year when this happened. I am not in a position to pay them anymore, in fact I have paid a much higher amount than I actually owed to the bank and I am still paying the min. dues. However my balance still shows the same. In last 2 years I have paid them approx. 75000 but I am still paying them for my outstanding.
I really need advise on this as to what can be done about it. It seems as if I will be paying like this for rest of my life.
Please suggest.
