Shaha Finlease — Credit Card Recovery

Address:

Shah Finlease Pvt Ltd., Mumbai.

I had Standard Chartered Banks Credit Card from 2005 to 2008 with a limit of just 20000/- (twenty thousand only.), it was a premium credit card allotted to me taking one time joining fees of 3600/- committing limit more than 1 lakh so I paid the amount and opted to close my other few card against its offering limit. But this was the first miss commitment of SCB. Never the less I have accepted it and continued the card as I have paid for it with high dissatisfaction. Till the time I had this card they had never increased the limit of 20K in entire this card association. I had some credit utilization of about 14k during 2007 on it, but due to my father passed away the same year I had to leave my job from Bombay and move back to my home town for taking family responsibilities and stay with my family being second decision maker. Hence, during that period I lost my job and got financially hit and few of my cards got defaulted and few I have closed with no outstanding. Now after a long, suddenly since 2019 almost 11 year later this firm SHAH FINLEASE claims the debt take over from SCB & started their blackmailing business knowing cibil loop holes and banking policies they have super planned this blackmailing tricks on customers to recover bad debt by illegal method. They called with abusive calls firstly tried a year and failed as I reciprocated and asked them to whatever they can with legal action my advocate will reply them. Then after a year they started calling me blackmailing to inform my companies CEO about my bad debt if I do not agree on their terms & condition. I replied that he can do whatever he wants as my CEO is not my father who will agree to pay on my behalf as he is also intelligent and understands things and may revert to me for clarifications. After that I found that my cibil changes occurred and my SCB credit utilization that they have reported as 33, 03323 lacs against my 20K limit in 2021 was now increase in March 2022 by 57, 39036 lacs (can you imagine against a card limit of 20K). This is the way of this companies blackmailing policies. Where in cibil also shows me written-off as 37663/- against this Shah Finlease. Can anyone imagine in less than 14 year 20 thousand limit card that was only utilized to 14 thousand gets outstanding of 57.40 lac (500% growth in interest). Once I noticed now I called them back and started harassing them there way as they have blocked my car loan enquiries through reporting over utilization of my credit limit that is not justifying to credit portfolio. With this way I will never settle this card which force me by blackmailing to settle 67K for settlement and does not guarantees to remove wrongly reported overutilization amount correction. I was trying purchasing car through finance to come back to premium clientele of banks by improving cibil score as it was during 2003 to 2007. No, issues now I will purchase my car by full cash like all my other assets with out any loans but will not bound In front of this recovery brokers. To hell will this banking system and their recovery blackmailers, they are only loosing good customers like us making us penalized.