This review is not limited to one credit card, Housing loan or personal finance company.
This service may appear to be a new one but is as old as the hills. The earlier friendly neighborhood hoodlums and bouncers used by for forcefully recovering dues have now morphed into a new avatar, particularly after the revised guidelines issued by the RBI and Finance Ministry on debt Recovery Agents. In their new avatar, they have set up call centers to continually harass you through multiple spammed numbers. Then a slick-talking " agent lands up at your doorstep to promising to " settle" the dues at a fraction of the total outstanding, even through easy monthly installments. They get "official " looking letters, in collusion with mid to senior executives of the banks, credit card companies, and housing finance companies.
This new avatar emerged especially after the economy tanked, people lost jobs and then the pandemic struck making things very difficult for the middle class, single earner families. Do Not fall into threir trap as the payments made to these "agents" whether through cheques or even genuine looking urls, never get reflected in the official statement of the credit card companies and other the housing loan, personal loan companies. These debt service companies morph faster than the Covid viruses.
I have reported this to RBI, the Finance Ministry, even the /Chairman of the Parliamentary Standing Committee on Finance, but to no avail