Credit card settlement?

Question

I have used last 5 years credit card. Unfortunately myself some of the financial problems there. Last 2.5 years I have paid-up Minimum dues, financial charges, late payment charges, over due charges and Tax also. Card Limit is Rs. 25000/- But I have paid Last 2.5 years Rs. 21000/- for Minimum dues, Financial charges, Late payment charges, Over due charges and Tax also. After that i have go for settlement amount Rs. 21200/-. I called so many times to customer services. I request settlement, they said not giving for Rs. 25000/- settlement. Every month paid-up Minimum dues, Financial Charges and Tax total amount is Rs. 21000/- paid-up. My salary account directly my blocked and take my salary, No intimations for me. Customer services and Executive I mentally collapsed trying Up-Normal condition situation created. If anything happened for me, full reason credit card divisions and Bank.
Nowadays  Bank heavy mentally Touchier everyday called so much of pressures and my health also problem tress. It will any happened full response for  Bank. I have recorded every time ask about credit payment. Thank you 

Answer 1

Dear Ram Singh

At the outset, let me clarify that this site is designed and managed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

It really unfortunate that you got into to financial constraints.  But it is further unfortunate that you have been only paying the minimum amount due for the past 2 and half years and which had attracted huge liability towards late fee charges, interest etc, which amounted to Rs.21000/-.  Given the agreement signed with the credit card issuing bank, you are under obligation to pay all those relevant charges.  The pressure being built upon you for payment is as per the industry practice.  As far as the settlement is concerned, it is the prerogative of the bank and you can not demand the same.  The bank is also well within their right in marking a lien on you salary account and recovering their dues.  Recording of their calls to you, would not help much, since you owe money to the bank.  The only course is to approach the bank, request and explore the possibility of some waiver of the charges levied on your credit card spends.

RAJA