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Regarding credit card outstanding settlement? |
I am having 2 credit cards State Bank of India (SBI) & City Bank with outstanding of 28000/- & 18000/-. I want to settle the outstanding. Actually I have asked this question in the month of Feb. 08, I got very valuable suggestions from yahoo answers service. I have been suggested to stop making the payments & if they call me for payment i should talk for settlement, starting from 25% to 40%. Now at present i have stopped the payment of SBI credit card (till date I have paid SBI more than 18,000/- Rs. as minimum amount), one of representative of SBI recovery dept.visited my office and he suggested me to give a cheque & told me to bounce that cheque, so that it would be easy for settlement. I have done the thing told by him. Now I m getting calls from SBI recovery dept. what will happen now? Any legal action? I m having a lot of financial problems. Is it possible to get settled the amount at or less than 40%? Please guide me. Please tell me what exact I should do now? Go to daveramsey.com. His program and advice will tell you what to do. You should NEVER give access to your bank account to anyone involved with a credit card company...you can even e-mail him your questions...get busy! Whoever told you to bounce a check was an idiot. Vishal, u r somewhat RIGHT. Actually i did same like u. me too bounced the cheque as per payment collector guy's suggestion. Now i m being settled @19000 instead of full amount 33000 INR. Also this amount i will pay in four equal instalment without any other charges. This is SBI card case. I wish my idea might be helpful,though you should make the judgement by yourself.I have got good experience at this good resource.http://creditcard.expertips.info/visa-cl... |
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