Disputes related to credit card and loans should always be resolved on E-mails. With changing time, people are avoiding this option and instead try to resolve the disputes over the phone which can cause numerous problems in the future. Having every communication in writing is time-consuming but a written conversation can become a great rescuer in the future.
What is the first step a bank takes when you apply for a home loan? It runs a check on your credit history. The loan is approved only if the applicant’s credit rating is good. One may not have taken a big loan or, for that matter, any loan in the past. But, a credit card dispute, however small, could hit a person’s credit rating.
Dealing with Loan Disputes
If you have taken a loan from a bank and miss paying to EMI’s then this period is known as a broken period. During this period banks penalize the customers and this amount is mandatory. However, the customer should take detailed information on these charges beforehand. If the bank denies disclosing this information then the customer can file the complaint in banking ombudsman or at RBI’s ombudsman website which requires customers to enter detailed information.
Other than this, if you close your loan before its maturity then the additional charges are levied on the customers. And banks have to mandatorily pre-notify this to the customers. Banks cannot levy unwanted charges.
Dealing with Credit Card Disputes
Many time customers have to deal with many problems while buying or returning insurance policy when they’re paying the premiums via credit card, read more about credit card disputes