Thread: ICICI Bank Debiting my Son's Account for Overdue EMIs

Hi,

We regret the inconvenience caused.

Please write to us with your contact details and loan account number at care@icicibank.com (Subject line: UID 220117). We'll contact you and work to address your issue.

Regards,
ICICI Customer Service Team.

Originally Posted by HurtConsumer

I have an ICICI Home Loan in Chennai.

1. I was paying the EMIs till May 2009 when my business difficulties made it impossible for me to pay my EMIs and EMIs accumulated.
   
2. The recovery manager who visited my home was kind enough to sit down with me and try and understand my problems.
   
3. The recovery manager came back to me with a proposal that for 6 Months the EMIs can be funded by the Bank and brought documentation including loan agreement for the same and the documents were all signed in July 2009.
   
4. I had to go away out of town on personal emergent family busness and I continued to receive demands to pay EMIs inspite of the above.
   
5. I returned in November 2009 and was in contact with the Recovery Manager who expressed helplessness in the matter. I told him clearly I could only start paying EMIs in January or February 2010.
   
6. I received a loan recall notice by this time and was furiously trying to sell the property but was unable to because of the market conditions.
   
7. In December I contacted the Zonal Manager and assured him that a part of the EMI's would be paid in January 2010 and accordingly made payment of roughly one third of the overdue EMIs on 30th January which was collected by the Bank staff on 2nd Feb. I also assured the bank manager that I would clear the balance EMIs in February.
   
8. My son also maintains an ICICI account to which myself and my wife are joint signatories for operational convenience. Much to my surprise, my son called me yesterday night that not only was there no money in his account but there was a substantial debit balance. I added the actual balance and the debit balance in the account together - it came to the balance EMIs due to the bank.
   
9. ICICI bank has no right to touch my son's account especially in the light of the fact that a) I promised to pay 3 EMIs and I did within January and I had promised to clear the balance 6 EMIs in February 2010 b) The Account belongs to my son and the money in it is not mine by his.
   
10. Now I have always until now received courteous and caring service from ICICI Bank and this latest act on their part has left me wondering why they have become hostile to me after I started paying back the overdue EMIs.

I would like ICICI to reverse the debit on my son's account and restore his money to him.
Best regards