Dear Claudienne

I had been a customer of the National Commercial Bank (NCB) for more than five years when my use of a US credit card was approved. I made consistent payments each month on the card, until 2012, when my life took a bitter turn for the worst and I was unable to make regular payments to the account.I called the bank’s customer care centre, and after informing them about my situation, asked them to take back the card to enable me, to make regular payments on the account and clear the outstanding sum. Unfortunately, they denied my request.In 2013 I continued my efforts to try to resolve the matter but the customer care personnel would have none of it.For a long period I did not hear from the bank but I again contacted them in 2015, to see how best I could resolve the matter and give NCB a chance to come to the bargaining table.Instead I received phone calls threatening to take me to court.The bank was not willing to facilitate a discussion to resolve the matter.It is now 2017, and interest on the card has increased the amount of money I am now owing the bank to over US$1,000.I am overwhelmed as to where this money will come from. I am just trying to find my way back financially and I cannot pay this amount of money.I would like to resolve this situation through negotiation with the bank and would appreciate your help in this matter.

SW 

Dear SW

Tell Claudienne which has been in communication with NCB about your concerns has received the following e-mail from the bank:“

We acknowledge receipt of your query raised on behalf of our customer SW and thank you for bringing this matter to our attention.

Whilst details of the accounts were shared with you we are not in a position to disclose sensitive particulars of the account. It should however be noted that the relationship established date is incorrect and our actions are in compliance with the regulatory requirements.

Our records reflect several discussions with SW since the start of her initiated contact and suggestions were made outlining possible options available to her. We made several attempts to contact SW thereafter without success.

However since your contact we have again reached out to SW and from our last discussion in February 2017, have again presented some options from which an agreement was reached with her and we awaiting her final response and action.

We continue to work with SW for a satisfactory resolution.”

Tell Claudienne asked NCB to explain what a customer experiencing financial difficulties can do in respect of credit card debt.The NCB clarification stated:“

Note that for Credit Cards, 

· Delinquency commences on the first day after the due date of the minimum payment.

· Where the minimum payment has not been met the credit cards are restricted from use by the cardholder fifteen (15) days after the due date of the minimum payment.

· Collection activities commence at fifteen (15) days after the minimum payment has not been met.

· Where any part of the minimum payment remains outstanding for ninety (90) days the card is classified as non-performing.

· After ninety (90) days the account is assigned to an External Collector or legal action is initiated where no arrangement is in place.

For our Credit Card customers, we share Safety Tips with them and guide them of effective credit card usage. We also inform customers via our website that they can reduce interest charges on their credit card by:

Paying your balance in full every month before the payment due date.

Paying more than the minimum amount as over time you will pay less interest and be able to pay off your balance faster.

Getting the facts before you conduct a transaction such as a cash advance.

Setting Reminders for when your payments are due.

Using Internet Banking to manage your finances especially paying and checking credit card bills and payments.

We encourage customers experiencing financial difficulties to contact us and their situation.”NCB also said that:“Interest stops on a credit card once it is classified as “write off” ie more than 180 days past due. A request for write off of interest is looked at on a case by case basis and requires approval.”We note that NCB has reduced the amount of your US credit card debt. Please keep in contact with NCB and try to pay off the amount within the period of the agreement.

Good luck. 

Have a problem with a store, utility company? Telephone 936-9346 or write to: Tell Claudienne c/o Sunday Finance, Jamaica Observer, 40-42 1/2 Beechwood Avenue, Kingston 5; or e-mail:edwardsc@jamaicaobserver.com. Please include a contact phone number.