Credit card late payment charges
I Have a Standard Charted credit card with 25,000 limit, card is issued on Aug 2010.
I used 25,000 and stopped paying in Sep-2011 due to some reasons. Now the bank people are calling me and asking me to pay the outstanding bill of Rs-1,28,000 (used -25,000, late payment charges 1,03,000 = 1,28,000) which is more than 400% extra to what I used, which is completely not fair.
I dont want to pay 1,28,000 as it is huge penalty charges. also I dont want to settle the account,
I want NIL balance in CIBIL. I am ready to pay 50 to 60% more to my original used money.
that is used money =25,000 + 60% late charges.
I have another bank credit card with 85,000 limit, and I used it 83000 and I stopped paying on same Sep-2011. Bank people called me 3 months before to pay the outstanding bill, and they just charged 25,000 extra. that is 1,08,000. (used- 83,000 late payment charges 25,000 = 1,08,000) )and I have paid it 1,08,000 as they just charged 30% for 4 years. and my cibil also showing NiL balance now.
I dont want settled status in CIBIL. I need NIL staus in CIBIL.
Please suggest me how to proceed on this.
Thanks in Advance