India Investment, Stocks, Credit Card and Retail Forum
Credit Cards / Loan Products in India => India Credit Cards / Personal & Business Loans => Topic started by: Mohman on February 20, 2012, 04:01:16 PM
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I had a credit card of Standard Chartered in 2005, and then shifted address due to which I didn't get any of my bills. I have recently got a call from the collection company (Shaha Finlease) that they have bought my credit card debt from Standard Chartered in 2010, and my outstanding is nearly Rs 2 lakh. My principal amount is only about Rs 10,000, as per the last transactions in 2005, and they are willing to settle at Rs 50,000.
Should I negotiate to settle at the principal amount?
Thanks for the help