An unfortunate holder of HSBC Gold Credit Card, I had taken a personal loan of Rs 20, 000 (which had limit of Rs 50, 000). I missed payments - call it my absent mindedness / shifting of job hence did not receive the card statements! As a result their collection dept sent me a threatening memo to up pay nearly 28, 000.
In August I was asked to pay Rs 21, 230 as settlement amount, which I paid the same in September 1st week. However later I was told that my name in Credit Rating as a defaulter would still remain unless I pay the legal fees of Rs 7440 (on the accumulated monthly interest amount of 3.1%)
Well I paid the legal penalty of Rs 7, 440 on 20th December 2007 and have the acknowledgement, till date I have only received false promises (via email) from HSBC that my name would be removed from the defaulter list.
To my shock, I found out that my home loan application has been refused as my name exists in the credit rating agency as defaulter.
My repeated attempts to HSBC for the same has evoked no response.
If I have been penalized for not paying on time, what happens when HSBC doesn’t respond for 3 months, am I not liable for refund.