[Resolved]  HSBC Credit Card — Fraudulent Promises Not Kept

Address:

West Delhi, Delhi

I was a credit card holder of HSBC Gold Card bearing SNo. [protected]. My card was in overdue status for over 8 months (due to financial crunch at my end). On a follow-up in January 2011, I interacted with their collection Agency named INSHA FINANCIAL regarding payment of the full amount. They firstly insisted on settlement and upon my persistent request agreed for a full payment of the card dues. I however requested them to see if some of the late payment and penalties could be reversed and I could close the card with principle (23,996) and the compounding interest for the period at their stipulated credit card rate. The agency suggested that they had a waiver of approx 7000 available and approved for me and that I needed to pay only 35,000 out of the total outstanding of 41,700. I paid as per the time limit they gave me and after the payments were realized through chq of 11,700 and cash 23,300 they stopped taking my calls. I escalated the matter to the regional collections head (Gentleman named Rohit Tyagi) but to no avail. All I was told was that the agency had made false/ fraudulent commitments and that I should pardon them and make the balance payment to the bank at the earliest. I agreed with the collections head and requested him to de-license the agency to prevent such fraudulent transactions in future to which he also stopped taking my calls. I feel cheated as now the statement got generated and I would have to pay financce charges on the balance 7000. I could have easily paid the total outstanding at one go if it were not for the fraud agency - INSHA FINANCIAL. Both the transacting field agent and his supervisor were belligenent and very confident throughout that nothing could harm them no matter what commitments they make to customers as HSBC only cares for the recovered amount no matter what means are used to get it out from customers.