Dear Sir,
In HSBC settlement letter it is mentioned like this below
REF: FFS\CPD\WOFF\BGE\CCR\EXCEED\12102010\198
20 November 2010
Without Prejudice
Mr. XXXXXXX
XXXXXXXXX, Hyderabad
Ref Credit Card Account No: XXXXXXXXXXXX
Dear Customer,
This has reference to your captioned Credit Card account. While you acknowledge that the amount reflected in your last Credit Card account statement is indeed due, outstanding and payable to the Bank, you have advised that you are unable to pay the entire dues on account of your individual circumstances and have made a request to the Bank to consider settling the dues in the account at a sum lower than the above-mentioned amount.
In view of the circumstances the Bank has considered your request on an exceptional basis and agrees to settle the said dues at INR 35000.00 (Rupees Thirty Five Thousand and Paise Zero Only). provided the said payment is made on or before 10 December 2010 .
On receipt of the said payment (s) by the Bank, we shall forward you the statement of the Credit Card account reflecting zero dues outstanding, after writing off the deficit amount. Needless to say that thereafter the Credit Card account relationship shall cease.
As communicated vide the Credit Card account terms and conditions and our subsequent letters with regard to your Credit Card account dues, your default in payment of credit dues on time and the nonsettlement of the dues in entirety, has been reported to all relevant credit reference agencies.
We would like to remind you that your credit history with us is provided on a regular basis to the Credit Information Bureau of India Limited (CIBIL), an initiative of the Government of India and Reserve Bank of India. On payment of the agreed settlement amount, your status will be updated as "Settled" or "Post Write Off Settled" as per your delinquency status, with NII, outstanding, in CIBII, records.
On acceptance of this offer you shall withdraw all proceedings/ counter claims, filed by you against the Bank. Please note that failure to make payment of the above-mentioned settlement amount as per the defined equated monthly installments or dishonour of any of the settlement cheques issued by you or non-withdrawal of the court proceedings/counter claims filed by you against the Bank shall render this offer null and void.
We request you to sign the duplicate of this letter in acceptance of the settlement and other terms as mentioned herein above.
Yours sincerely,
Manager, Debt Management
Consumer Credit risk
I, residing at the above address, accept the settlement at the terms set out above.
Customer Signature:
The Hongkong and Shanghai Banking Corporation Limited
84, Gandhi Bazar Main Road, Basavanagudi, Bangalore e-mail : info@hsbc.co.in
www.hsbc.co.in
Incorporated in Hong Kong SAR with limited liability Please address all letters to The Manager
560 004, India. Tel : 25589595
I told the HSBC Credit card people that I need the hard copy of settlement letter.
1) Is this a Correct settlement letter so that there will be no problem in future
2) In that letter there is only sign of Manager, but his name and Emp ID No is also not mentioned, can i ask for that?
3) Should I pay the above amount by cheque or by cash?
4) What is settled and Post write off settled as mentioned in letter?
Please guide me any other instructions I should follow before payment of settlement amount to HSBC.
Thanks in Advance,
Rampa Rajesh
