Priceless legal advice at a click
Damini Dawar | 06 Mar 2014

Website chargebackers.com publicly exposes the names and details of cheque bouncers, bank loan defaulters, charge backers and divorced persons, which is seen as a huge leap towards the swiftest recovery of money lost due to dishonored cheques and bank loan defaults and reduction of cheque dishonour litigation.

The public disclosure services rendered by one of the largest online solution providers in the world, chargebackers.com have been specifically directed to help the victims of dishonoured cheques and banks in recovering their dues in the fastest and the cheapest possible way.

The victims of dishonoured cheques and banks now no longer need to entangle themselves in lengthy court cases to get back the money of dishonoured cheques and bad loans. For the first time in the history of media publishing, the Indian public can now readily view the names and details of the individuals and business entities that have dishonoured their cheques and defaulted on their bank loan EMIs on the public forum of chargebackers.com

The world wide public disclosure of names and complete details of such financial and commercial defaulters will subject the defaulters to open public appraisal and scrutiny and will not only motivate the defaulter to pay back the dues to the victims but will serve the public as a handy data bank to verify the financial and market credibility of individuals and business houses for the prevention of financial disputes and bad bank loans in the future.

Presently, the only remedy available to sufferers of dishonoured cheques and bank loans is filing court cases against the offenders, which is not only expensive and uncertain but is endlessly lengthy too. 

However, open and relentless public scrutiny of their financial behaviour will cast clear and long lasting implications on the social/ brand image of defaulting individuals and business entities, encouraging them to clear their dues as soon as possible in order to maintain favourable public opinion.

Cheque dishonour litigation is commonly perceived to be an ineffective and expensive method of recovering the cheque amount and has resulted in a huge stress on the judiciary. Currently, over 3.2 crore cheque bouncing cases are pending in Indian courts and the numbers are rising by the day. 

Another lopsided aspect of filing a court case is the economic counter productivity of the exercise as, many a times, the complainant ends up spending more money on litigation than he can hope ever to recover at the end of the day. Reliance has been reported to have recently filed 70 thousand cheque dishonour cases in order to recover a sum of just Rs. 4 crore, thus spending over 7 crores in litigation.

A note worthy trait of cheque dishonour litigation is that only a fraction of the accused are held guilty, whereas, majority of the cases ultimately end up in a settlement but only after the complainant and the judiciary has lost several precious years during pre-settlement litigation. Invariably, the accused settles the matter only during the last stages of the case as the last resort to avoid jail.

Another striking feature of chargebackers.com services is the public disclosure of the names and details of persons who are divorced or facing matrimonial litigation. The founders of the website have dedicated this data to the cause of infusing transparency and truthfulness during the forging of matrimonial alliances. More often than not, a divorced person, when looking out for second marriage, tends to misrepresent his or her true marital status to the prospective match.

Currently, there is no mechanism available to the public to verify the true marital status of a person and it is a Herculean task to know the truth of the matter without spending huge amounts on detectives. 

Any member of the public can access the data bank of marital status on the public forum of chargebackers.com and cross-check the marital status of the listed persons. This endeavor is aimed to protect the public from marriage frauds and ensuing court cases.