Questions & Answers
Bank settlement of credit card to avoid legal action
I had a credit card balance of AED 71000 to a bank in the UAE. I asked and was given a settlement offer of AED 60000 (credit limit of card) for 12 months payment period which I started paying last Nov. 2018.
On February 2019, our salary came late and I paid the bank on the 26 of February instead of 18 Feb due date. I was in communication with one of collection officer of the bank during that delay period.
I made the payment on time in March and April of 2019. I was called by another collection officer on 5 May 2019 asking me for payment due on my card because according to her, my settlement offer had been cancelled.
I had asked the bank for reconsideration because I had only a few months left to complete the payment. I'm waiting for response up to now. What are my options if the bank rejected my request?
Hello.
If the bank rejects your request, they may file a criminal case against you, and after that, a civil case.
So as I see, it's better for you to give a power of attorney to a lawyer to handle this issue with the bank and try to settle it before filing a case against you.
