Legal Question in Consumer Law in India

Hello Sir, I am Surya from Hyderabad, this is regarding my credit card payment,

through my credit card I utilized an amount of Rs.40,000/- but over a period of time I paid almost Rs.55,000/- on different dates, still my account shows a debit balance of Rs.1,00,000/-, what shall I do. It seems all my payments are adjusted against penalties and interest. at what percentage they have right to collect interest. please suggest me.

Asked on 5/28/13, 12:30 am

1 Answer from Attorneys

Fca Prashant Chavan Expert Edge LLP


Dear Surya,

Instead of paying adhoc amounts to the Credit Card company and the matter prolongs and goes on and on, the best way forward is for you to negotiate a one time settlement and pay off the credit card company, obtain a "No dues" certificate from the credit card company; and shift over to a new credit card company.


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Answered on 5/29/13, 5:32 am

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