i payed satelment of my personal loan money, but till i can't recive my noc later so, pl.give my noc latter
Personal Loan No: S000011348
Dear Sir,I am facing a lot of mental agony with respect to the settlement of a personal loan I had taken from Indiabulls during 2005. Will appreciate your help in sorting out the matter.
1. Indiabulls Financials, at the time of the disbursal of the loan, provided me with a single paged letter which only mentioned the EMI amount and when the emi would begin from. The letter was actually only a disbursal letter and had the cheque attached worth Rs 92870. As a matter of fact, even the principal amount was not mentioned on the document. Also, the company was required to provide an ammortisation chart along with other documents which they have failed to do so. They are currently claiming an overdue amount of Rs. 235,000/- which is exorbitant.
2. Also, please note that I never wanted a loan for 72 months as I do not believe personal loans do carry such a long tenure. Indiabulls officer had approached me to sign up for a personal loan with a tenure of only 48 months. Had I know that I would need to service this loan for a significant period of 6 years, I would have made comparisons with other lenders to find the most suitable personal loan for myself. They have violated rules for transparency and kept me in the dark till now.
3. As per the attached loan agreement, the Rate of Interest is mentioned as 23.88% per annum. Though when i myself calculated, the EMI even for a tenure of 72 months, works out to Rs 2625 per month and not 3329/- as you had mentioned in the attached letter.
4. Secondly, their calculation of dues is very unique. They had used my blank cheque in early 2006 for filing section 138 against me, they had claimed an amount of Rs 117000/- whereas I had only defaulted on 6 emi's worth ~ Rs 18000/-.
I understand from their actions that you had called off the loan during 2006 itself by asking for a full amount of Rs 117,000/-.
However, as per the attached document, they kept counting the number of EMI's for the full tenure and have calculated 3329 x 72 months to arrive at an exorbitant figure of Rs 235,000/-. Also, that this loan has been written off in 2007 itself and I do not understand why they are asking me such a high amount to settle the loan.
Please also note that I never intended to default on any loan however loss of job and financial difficulties forced me in doing so. Also, I am not concealing my defaults and not making any baseless allegation against the company. All allegations would be substantiated with proofs as and when required.
Most other lenders have amicably settled the loans with myself by being kind enough to offer me discounts against principal amount. The principal amount due as per their calculations is Rs. 98279/-. I have requested them to kindly offer some discount on this principal amount and amicably settle the outstanding.
Please also note that I received a phone call by Mr Abbas of Indiabulls Khar branch ( Mobile No: 8976891474) wherein he again abused me for the said dues.
Awaiting your response. You can reach me on my cell no 8898435980.
On Sat, Jul 7, 2012 at 2:04 PM, Customer Service Loans <email@example.com> wrote:
Dear Mr . Pradhan,
We are in receipt of your mail dated 01st July'12 regarding your loan account number S000011348 and at the outset deny all the allegations leveled by you against us as baseless, malafide and an after thought. It is stated that you have approached us and applied for a loan facility of Rs 1,00,000/- for a tenure of 72 months. Your said application was accepted and after deduction of processing fee and other statutory taxes a sum of Rs 92870/- was disbursed to you vide a cheque which was duly encashed by you. You have voluntarily signed and duly executed a loan agreement for availing the said loan, specifically mentioning the terms and conditions applicable. The said agreement contain the details like loan amount, tenure of the loan, amount of EMIís, Rate of Interest, processing fee and taxes applicable etc. A copy of the said agreement was duly supplied to you as well. All these terms and conditions were pre-decided and had remained the same throughout with never even a whisper of objection from you.
It is vehemently denied that we have misused any cheque provided by you. On the contrary, your conduct and financial indiscipline reflects your malafide intentions. You have never honored your commitment to re-pay the loan amount and till date paid only 4 EMIís out of 72 payable.
It is very surprising that after enjoying the loan amount for such a long period of about 7 years, you have suddenly discovered certain anomalies, as alleged. It is informed that as on 2nd July 2012, you are liable to pay Rs 2,35,057/- only inclusive of all the interests and charges.
Further, it is vehemently denied that you are being harassed by any agents of the company. It seems that to conceal your defaults and avoid payment of the legally due amount, you are making baseless allegations against the officials of the company. We would like to inform you that the company strictly follows Rules, Regulations and all Regulatory Guidelines while framing any policy for different loan products. The company does not resort to strong arm tactics while dealing with its customers and has given clear and strong instruction to all itís executives to observe the work ethics religiously and strictly as per the policy of the regulatory bodies and law of the Land. The company works under the guidelines laid down by the regulatory bodies and believe in recovering its debt through the procedure established by law of the land.
Therefore you are requested to abstain from making baseless allegations and fulfill your obligations to clear your legally due liabilities to us.
Copy of Loan Application Form
Copy of Loan Agreement along with copy of Disbursal cheque.
Statement of Account.
Thank you for your understanding.
Customer Care - Indiabulls
As per RBI/NHBís KYC guidelines, you are requested to submit a self attested copy of your photo, photo ID and address proof at your nearest Indiabulls Branch and update if there is any change in your contact details. Kindly comply within 15 days.
We see that you currently do not have the Home/Motor insurance with your Home/vehicle Loan availed through Indiabulls. We have customized plans for all needs. You can call us 1800-200-7777 or write to us at firstname.lastname@example.org to know more about Insurance plans.
Request you to get your correct contact details updated with us. You can call our Customer Care Helpline to know the procedure for the same .
For any further Queries and Complaints, Please call our Customer Care Helpline at 1-800-200-7777 (toll Free)
In 2005, your company had disbursed a loan of Rs 98,000/- but had defrauded me by changing the tenure of the loan to 72 months instead of the agreed 48 months. You failed to provide me with any document which explained the terms of the loan I had taken from you. The welcome letter was a singled paged letter only mentioning my emi amount and from when the emi will start. It does not even disclose the actual loan amount nor does it mention the exorbitant 6% processing fees deducted from the disbursed amount.
This is to also bring to your notice that you have misused a blank cheque given by me for ECS purpose by mentioning an amount according to your whim and fancies.
Also, that you have continued to charge me an EMI for 72 months in spite of the loan being written many years back. By calculating the EMI amount of 3329/- with the tenure of 72 months, you are now claiming an outstanding amount of Rs 235,000/-. However, your agents and officers have failed to provide me with an document that substantiates this claim and they have further informed me that I need to pay the entire outstanding amount and only then we will provide you the documents for calculation.
Currently, I am being continuously called and approached by retired police officers and other agents who now claim to be your legal agents. I have been insulted, humiliated and threatened by your recovery agents in front of my office colleagues which is illegal and unnecessary. On Saturday, at 10 pm, a person named Abbas had called from your call center (No 33458537) and abused using profanity. We have recorded each and every of these abusive calls which will be produced in the court of law.
I have met many officers from your collections department (Namely, Yogesh Shinde, Amit @@@@hi) who have offered a settlement amount of Rs 127,000/- which is not yet accepted by me as they are working on a base amount of Rs, 235,000/- which is incorrect and not substantiated. Also, they are forcing me to pay cash which too is unjustified.
This is to bring to your notice that your recovery agents are flouting RBI norms for recovery of dues as well as your company has flouted the norms for transparency of the loan agreement.
I add that your NBFC is indulging in unfair trade practice, illegal means and extortive approach. It has grossly violated and continue to breach:
A] Code of Bankís Commitment to Customers of BCSBI - RBI/2007-2008/32
DBOD.FSD.BC.17 / 24.01.011/ 2007-08 dated 02-07-2007
B] Fair practice code and collection policy mandated by RBI - RBI/2008-09/39
DBOD.FSD.BC.6/ 24.01.011/ 2008-09 dated 01-07-2008
Provide me by speed post and also email within 15 days of receipt of this notice following details of outstanding dues if any:
a. date of debit
b. full and exhaustive details of claim with justification.
c. amount of claim.
d. supporting proof to substantiate each claim.
e. documents signed by me to avail of this loan
I reiterate that, I believe in fair dealings and I am prepared to pay to your company what ever is officially, legally and justifiably due. I am not interested in settlement of any amount or pay less than what is due from me.
However, if illegal harassment through phones or visits is undertaken by your company, then I will no option but to register an FIR against your agents or a case would be filed with the Chief Magistrate. That said, my company officials have also initiated processes, criminal and civil, against your company as you do not have any right of calling my office phone nos especially when you have my cell phone number.
i payed satelment of my personal loan money, but till i can't recive my noc later so, pl.give my noc latter
I have taken 46000 Rs. Loan from your bank/branch (Mayur Vihar Phase - III) for 48 months in 2005. I have paid 24 EMI regularly. But somehow I couldn't paid 25th EMI through bank. Your executive has come to my home for taking this EMI. He told me that your loan for 72 tenures. I shocked. I send a letter to your head office and one is to your branch office. Mr Sanjay Tripathi was the branch officer that time but he was not present at that time. I Paid two more EMI. Now I have paid 26 EMI and right than I am not paying EMIs. What I do. He registered me at CIBIL, and court case on me. Please sortout this problem.