ringo100100 wrote:1) Reconfirm exactly what you are liable for. Is it really your fault? Have they not been able to recover anything from the merchant?
There have been past threads about this. Yes, banks can hold you liable for any misuse of your card, until you report the loss to them.
2) Try to negotiate down the balance and agree a repayment plan. They would prefer to get something rather than nothing. It is not unusual for them to agree 50%, 80%, payable interest free etc. Don't let them pressure you as it is against the law.
While I agree that you can and should try to nego, the law is on the company's side: "owe money pay money", as they say in Sg.
3) Use the media card. There has been a lot of attention on this and they may want to agree a reasonable settlement.
Unlikely to work now that the Nov 1 law change limiting your liability to $100 has been approved.
4) Consider paying minimum, letting the balance role up then negotiate when you have left the country.
Not advisable if you're planning on staying in Sg, since the interest compounds very fast.
5) Just don't pay and get a bad credit reference – maybe better than breaching employment laws.
If you do this in Sg, the bank will extract its pound of flesh by repossessing anything it can get its hands on and having you declared in bankrupt if it's not enough.