but what ever i use it for, i never use up my limit,haven't paid a single rupee as interest to them all these years(now i have got their halal debit card as well). people should spend wat ever they've got in their pockets/accounts, using bank's credit limit might sound tempting but later on they'll make you pay thru your nose, plus the interest would keep on rising as well..
Two banks restrained from sending recovery squads
By Shujaat Ali Khan
KARACHI, April 2: The Sindh High Court restrained two commercial banks on Wednesday from sending recovery squads to the residence of an alleged credit card defaulter and summoned their executives and the SHO concerned to answer his allegations on April 16.
Petitioner Amir Feroz submitted through Advocate Gohar Iqbal that he obtained credit cards from Citibank and Standard Chartered Bank during his employment with a private company on handsome emoluments. His employer, however, dismissed him without notice in December 2007 and his case against the verbal termination order was pending in a labour court.
Due to abrupt stoppage of salary, the petitioner said, he failed to clear his debts and other charges on time. The accumulated debt rose to about 450,000 but he informed the creditor banks of his problems and difficulties. Simultaneously, he paid substantial amounts toward repayment of the outstanding debt and proposed a settlement to discharge his liability.
However, the petitioner further alleged, the banks started sending recovery teams to his house in Zaman Town, Korangi. They shouted threats and used intimidating, insulting and humiliating language and hurt his self-respect and lowered his esteem among his neighbours. He approached the Zaman Town station house officer for protection and the banks for a reasonable settlement but there was no positive response from either.
Justices Mrs Qaiser Iqbal and Syed Mahmood Alam Rizvi, who constituted the bench seized of the petition, observed that the dignity of person and, subject to law, privacy of home were inviolable under the law and Constitution. Issuing notices to the respondents for April 16, they restrained the banks from taking coercive action against the petitioner, including dispatch of recovery teams.