LawRato

What to do when Credit card company send a conciliation notice


17-Jul-2023 (In Banking / Finance Law)
Hi, I had a credit card from Axis Bank where my card expired in the month of Feb 2018. Usually for a running account, a new card is issued upon expiry. In my case, no new card was sent to me. Also, my web portal and phone app stopped showing any record of my card. When I visited the bank branch they said your account has been closed and you don't need to worry/pay anything. After two months in April I started getting call from the bank for clearing overdue and expenditure from the card. I understand that there might be some transactions that may have been unpaid but now the amount is inflated with the interest that shouldn't be borne by me as they never communicated any of it for 2 months. I also have mails that I sent to Axis bank help where I mentioned my case and asked for explanation where they didn't respond and said talk to customer care while in all my customer care I had highlighted the issue. Now, they are calling me for a reconciliation meeting. Should I even go for it?
Answers (1)

Answer #1
650 votes
please let me know if you have any record of closed account and any letter of full and final settlement and whether you have any record which showing that you have some amount due towards bank and all the communication you made and their reply..... logically you need not to pay...

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.

Report abuse?

Comments by Users

No Comments! Be the first one to comment.

"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."