Need help in settlement of your credit card dues or personal loans?
In the current financial environment, interacting with banks has become an integral aspect of everyday life. However, there are instances where individuals may face harassment or unjust treatment from their bank. When faced with such situations, it’s essential to know how to assert your rights effectively. One powerful tool at your disposal is drafting a […]
In recent years, there has been a growing awareness surrounding mental harassment in various spheres of life, including the banking sector. As customers, we often interact with banks for our financial needs, but what happens when these interactions turn into sources of stress and anxiety? Recognizing signs of mental harassment by banks is crucial for […]
Recovery agents play a vital role in financial sectors, ensuring debts are recovered from individuals who have defaulted on payments. However, concerns about harassment by recovery agents have emerged. This exploration delves into recovery agent responsibilities while emphasizing measures to address harassment concerns. The Responsibilities of a Recovery Agent Recovery agents are tasked with the […]
NPA is a term used to describe loans that have gone bad and are unlikely to be paid back. This can happen due to the borrower’s inability or unwillingness to repay the loan amount. When this happens, lenders often need to take action and write off the unpaid debt as a non-performing asset (NPA). The […]
If you are struggling to pay your debts, you may be considering debt settlement. This is when you hire a company to negotiate with your creditors on your behalf, in order to reduce the amount of money you owe. It can be a great way to get out of debt faster, but it’s important to […]
Facts of the case: The complainant, Vibhu Bhakru, had taken a credit card from the Opposite Party, Standard Chartered Bank in 1999 and had been very regular and prompt at payments. On 24.02.2004 an invoice was sent to the complainant demanding payment of Rs.750/- charged on account of renewal. The complainant requested redemption on the […]
The Reserve Bank of India, in its Bank-wise ATM/POS/Card Statistics, noted that in December 2018 the total number of outstanding credit cards issued was around 44.3 million. This number increased to 60.3 million by December 2020. Credit Card usage is inarguably increasing by leaps and bounds owing to the interest-free credit of upto 45 days, […]
In these uncertain times, when the world is grappling with the pandemic, people are also falling into debt trap, unable to pay their EMIs. Here are some options to repay EMIs during difficult times: Create and Maintain Emergency Fund The future is always uncertain but it can be at minimal risk with an emergency fund. […]
Facts of the case: Complainant, Tapan Bose, had taken a loan of Rs. 3,40,749/- to purchase Maruti Swift, from the opposite party, ICICI Bank. The opposite party had already taken post-dated cheques, so the monthly installments were paid on time. A few installments had been collected through ECS and cash as well. After 3 different […]
With about 21 million people losing their jobs due to the pandemic, according to the Centre for Monitoring Indian Economy, Banks and NBFCs have gone into a collection overdrive resulting in recovery agencies calling double the borrowers than pre-Covid-19. The recovery process usually involves negotiating certain conditions of the loan agreement to help the borrower […]
Need help in settlement of your credit card dues or personal loans?
