Citi Sued Over Man’s Death In Relation To $12,000 Credit Card Bill

Jakarta during monthly Car Free Day, on the la...

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In the U.S., failing to pay back your Citibank bills can, at worst, lead to personal bankruptcy and a poor credit rating. In Indonesia, it may get you killed. Jakarta resident Irzen Octa had, according to Bloomberg Markets magazine, racked up a $12,000 debt, interest included, with the large bank. On March 29, Mr. Octa traveled to Citi‘s local offices where, police allege, he was brutally beaten by debt collectors. He was pronounced dead on arrival at the local hospital. The debt collector’s attorney has denied the accusations, admitting that while there was some intimidation, it was not physical, according to Bloomberg. Mr. Octa died of a stroke, not a physical altercation, the attorney claims. The debt collectors have, nonetheless, been jailed by Jakarta police. The practice of hiring debt collectors to intimidate clients is a common practice in Indonesia, according to Jim Castle of the American Chamber of Commerce in Indonesia. “It’s not just Citibank,” Castle says, according to Bloomberg. “Every banker I have talked to who has a credit card business says, ‘There but for the grace of God go I.’”

via Citi Sued Over Man’s Death In Relation To $12,000 Credit Card Bill.

Strange Random Credit Card Quote:

“There are 3.5 billion credit card solicitations sent out every year, … That’s 41 for every man, woman and child.” – Robert Torricelli

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Posted on July 5, 2011, in Article and tagged , , , , , , , , . Bookmark the permalink. Leave a comment.

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