How to resolve credit card issue with the bank?
My friend's dad owns an ICICI credit card. Outstanding amount 2 years ago was around 50k. Due to financial crisis at that time, he was not paying minimum amount due. Slowly he started getting calls from recovery agents threatening and harassing them. One day my friend's dad got fed up and asked settlement guy to come at his workplace and settle the payment. He asked them to pay 10k out of 30k settlement amount and gave them a receipt regarding the payment and said next month he will come over to collect next installment.....
My advice is not to let the credit card companies bully you. I'm in that same issue now. So far, my account has been referred to three different collection agencies since 2009. Why? Because I tactfully explained to each of them that I was not refusing to pay, but, that I could not send them what I do not have, that I was not gainfully employed and the low wages I work for now, I also tallied up the amount of penalties and interest that have been tacked on in addition to the fact I could not even get a loan from my own bank to settle the amount. Then they backed off.
Can't squeeze blood from a Turnip.
sounds like loan sharks LOL I guess that is the only way if not you will have to declare bankruptcy right
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