I’m being haunted by the collection agency guys & the Bank Card collection managers alike for an un settled card with the last date of transaction being on November 2004.

Card Type: Silver Card, International Card Limit: INR 30,000/-

First the manager advised me to settle for Rs. 20,000/- in 10 EMIs each of Rs. 2000/-, for which I readly agreed.

Later on the same person called up & said my principle outstanding is Rs. 30,404/- and I need to settle the same in 8 installments, since the bank can not approve of any settlements below the principle or above a tenure of 8 months repayment.

Before I could think over the same, there was another call on the next day by another HDFC Card Collection Manager asking for whether I’m willing to settle for Rs. 38,000/- to be paid in 4 installments, & when I said it’s by all honesty not possible, he bangged the phone at his end!

They have already verified by salary account with HDFC Bank, was mentioning me about the exact amount of my salary credits, & was also mentioning about my another HDFC Gold Card which is linked to the S/b Ac.

Now, my concern is January was the last month for me with a full salary credit, going forward I might or might not be elegible for any salary!!!!
I’m already depressed on the fact that owing to the un steady cash flows I’m going to default on my Car, Housing, Personal Loans. I’ve mentioned the reality to the Cards people, but some how I’m getting the feel that they are taking me for a ride when I showed my intention to settle the card outstanding , even if it’s out of means to me right now.

And the saddest part is all the settlement offers were put over the phone & I don’t have any records for the same.

HOW DO I GET PASS THIS, WHAT ARE MY CHANCES IF I APPROACH A COURT OF JUSTICE?