shall we try this?

totoseow

Well-Known Member
Legendary 10 Years
Man who created own credit card sues bank for not sticking to terms - Telegraph


Man who created own credit card sues bank for not sticking to terms
When Dmitry Argarkov was sent a letter offering him a credit card, he found the rates not to his liking.
A selection of credit cards in a fan.
Dmitry Argarkov's version of the contract contained a 0pc interest rate, no fees and no credit limit
But he didn't throw the contract away or shred it. Instead, the 42-year-old from Voronezh, Russia, scanned it into his computer, altered the terms and sent it back to Tinkoff Credit Systems.

Mr Argarkov's version of the contract contained a 0pc interest rate, no fees and no credit limit. Every time the bank failed to comply with the rules, he would fine them 3m rubles (£58,716). If Tinkoff tried to cancel the contract, it would have to pay him 6m rubles.

Tinkoff apparently failed to read the amendments, signed the contract and sent Mr Argakov a credit card.

"The Bank confirmed its agreement to the client's terms and sent him a credit card and a copy of the approved application form," his lawyer Dmitry Mikhalevich told Kommersant. "The opened credit line was unlimited. He could afford to buy an island somewhere in Malaysia, and the bank would have to pay for it by law."

However, Tinkoff attempted to close the account due to overdue payments. It sued Mr Argakov for 45,000 rubles for fees and charges that were not in his altered version of the contract.

"They signed the documents without looking. They said what usually their borrowers say in court: 'We have not read it',” said Mr Mikhalevich.

But now Mr Argakov has taken matters one step further. He is suing Tinkoff for 24m rubles for not honouring the contract and breaking the agreement.

Tinkoff has launched its own legal action, accusing Mr Argakov of fraud.

Oleg Tinkov, founder of the bank, tweeted: "Our lawyers think he is going to get not 24m, but really 4 years in prison for fraud. Now it's a matter of principle for @tcsbanktwitter."

The court will review Mr Argakov's case next month.
 
Re: shall we try this?

Bank kenna PAWNED
 
Re: shall we try this?

Score one for the little guys ... even if this little guy is a bit Mafia-like hehehe.
 
Re: shall we try this?

I think the bank has little chance.
One way is to offer a sum to buy back the contract.
But depends on what the court says now.

So who say "zieng keh" (banker) always win?
 
Re: shall we try this?

Some lawyers should be fired. Oops.
 
Re: shall we try this?

lek. u tell me. do u think the man has a case? fraud?

the bank gives their T & C. the guy reads it. changes to his T & C. the bank signs blindly. u cant say its fraud.
 
Re: shall we try this?

totoseow;1023285 said:
lek. u tell me. do u think the man has a case? fraud?

the bank gives their T & C. the guy reads it. changes to his T & C. the bank signs blindly. u cant say its fraud.

Depends. Some T&Cs especially from banks clearly provides for finality in the T&Cs, just like some brokerage contracts. Just because u amended it secretly and send it back doesn't make it legally binding cos under the law, any offer (or counter offer) must be clearly made to the other party so that he may consider it. Or else it falls under the Contra-Proferentum Rule (interpreted as against the maker of the document).

But fraud? NO...

Mistake in Fact and law.. yes..meaning both parties do not know what they are signing and thus entered into the contract by mistake..
 
Re: shall we try this?

thanks. I guess in Russia anything goes. doubt banks here r that dumb. try that here n the MAS n the court will contrive to get u in for fraud
 
Re: shall we try this?

The man has apparently won the case, and the new case is the man counter-suing the bank wor. If it is anywhere else, courts would have thrown in out of window (my opinion).
 
Re: shall we try this?

if u, say, send it back and wrote on a covering letter saying u made some amendments and the bank still blindly sign it or missed some of the amendments, then u win.
 
Re: shall we try this?

Lesson to be learnt: please read the small print. Always.
 
Re: shall we try this?

Hello Kitty buyers at MacDonald's didn't read the fine prints "While Stocks Last?"
 
Re: shall we try this?

kenntona;1023296 said:
Hello Kitty buyers at MacDonald's didn't read the fine prints "While Stocks Last?"

Reading believing..
I guess.
 
Re: shall we try this?

kenntona;1023296 said:
Hello Kitty buyers at MacDonald's didn't read the fine prints "While Stocks Last?"

They queue up the night before with only one thing in mind...

"if no stock, I report police"
 
Re: shall we try this?

rvt;1023270 said:
I think the bank has little chance.
One way is to offer a sum to buy back the contract.
But depends on what the court says now.

So who say "zieng keh" (banker) always win?


Shucks. My banker gets me to sign stuff all the time and I don't usually have time to read...

View attachment 53523
 
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Re: shall we try this?

Baby1M;1023314 said:
Boh Intro!!!!

She just got fired... must be too many guys blindly sign...

[video=youtube_share;52Y9XYsT9-A]http://youtu.be/52Y9XYsT9-A[/video]
 
Re: shall we try this?

Works both ways ..... what if we say the bank secretly added the terms to my loans previously and so its invalid today ?

MW;1023289 said:
Depends. Some T&Cs especially from banks clearly provides for finality in the T&Cs, just like some brokerage contracts. Just because u amended it secretly and send it back doesn't make it legally binding cos under the law, any offer (or counter offer) must be clearly made to the other party so that he may consider it. Or else it falls under the Contra-Proferentum Rule (interpreted as against the maker of the document).

But fraud? NO...

Mistake in Fact and law.. yes..meaning both parties do not know what they are signing and thus entered into the contract by mistake..
 
Re: shall we try this?

Red_Bean_Bun;1023342 said:
Works both ways ..... what if we say the bank secretly added the terms to my loans previously and so its invalid today ?

There's this term in all properly drafted documents called the Entire Agreement clause. Google tat n u will understand
 
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