I was issued an AMEX UNLIMITED Gold credit card in 2012. Then I stayed in Kolkata. My then employer one day requested me to transfer a payment of Rs. 4.25 lacs to a supplier with the promise of refunding me the amount which never happened. Thereafter, as the company closed, I became jobless for three years from 2013-2015 and was under huge financial debt. In the end of 2015, I got employment in an IT firm in Noida, Uttar Pradesh. Now, I am still working there. Recently, the bank tracked me using my PAN No. and called me up in my office landline no. in Noida. I have no intention to be a defaulter as it is affecting my CIBIL, therefore, I proposed to pay the entire dues without any settlement but in installments as per my means. I have proof that after meeting my expenses, I cannot save more than 5000/- per month, therefore, I offered to start repayment @5000/- p.m. as a minimum guarantee and whenever possible I shall pay more to clear the dues as soon as possible. But the bank is threatening to pay Rs 5,24,000 within 3 days or face humiliation at your office. All that I want is 1) to prevent bank from creating a nuisance in my office and 2) make the bank accept my repayment amount per month according to my pocket. An important mention here: I don't have any property in my name / other any asset (liquid/immovable) as they all dried up during my jobless days. Please advise.
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1) claim of bank is barred by limitation
2) suit if any for recovery of money had to be filed within period of 3 years from last payment made by you
3) file police complaint against bank and its officers under section 506 of IPC for criminal intimidation under section 506 of IPC
4) since you dont have any property in your name bank would find it diffcult to recover its dues
1.Have you made commitment in writing ?If not then nothing to worry.
2.If your last payment to them was more than 3 years ago and thereafter there was no communications in writing then the debt has become time barred.
3. You can lodge complaint with police if they intimidate you in private or in public.
Dear Querist
Immediately issue a legal notice to bank and direct them to stop these type of nuisance and also claim compensation for their wrong doing as they threaten to you.
if they are not stopping then after completion of notice period you have right to file a civil suit for injunction cum defamation and claim compensation from them.
when there is no intention of grab their money and you are ready to pay the same by Installment, then bank has no right to threaten to you for pay the total amount within three days, if they will go to file any case against you then no need to worry, the court will also ask to you that if you are ready to settled the matter then the court also give you time.
Feel free to Call
First of all do not accept anything in writing because it appears that this loan is barred by limitation.
If the bank is resorting to any such action of harassing you or creating nuisance in your office, you may issue a legal notice to the bank and should advise them to restrain from such activities or else to face consequences through the court
Alternately you may have an audience with he bank manager seeking his discretion to restructure the loan and the repayment to facilitate convenient repayment or as per the bank's terms which is acceptable to you.
1. Since more than 3 years have passed from the date on which the amount fell due the claim of bank is now time barred unless within last 3 years you made a fresh acknowledgment of debt.
2. Go to the nearest police station to file a complaint for criminal intimidation against bank manager under section 506 IPC.
