Loan recall
srinivasan
(Querist) 17 March 2015
This query is : Resolved
Hi everyone,
I had availed a consumer durable loan with EMI duration of 8 months. I had requested orally (while availing loan) to have the ECS clearing date to be 14th of every month, which the executive agreed; but to my surprise the ECS date was 3rd of every month and they started calling me to maintain sufficient fund in my A/c. I walked into the branch and requested to change the date, but they denied their executive's mistake and demanded me to pay charges if at all I want the date to be changed. Hence, I couldn't maintain the balance for the 2nd month's EMI and ultimately bounced. When the collection department contacted me, I said anyhow the bounce charges got debited, so I will pay the EMI at the last. After all these, I some started maintaining balance, but unfortunately this year again the cheque got bounced despite me striving to have sufficient fund in the account. When contacted the Bank about the bounce, I got to know that the ECS happened electronically well before the bank timings on the date (3rd of the month) wherein I deposited the amount during bank hours.
Now, I have paid totally 5 EMIs of the 8, and also am ready to pay the rest 3 EMIs; 1 as my last EMI and the rest 2 at one shot.
Now, none of the lender's staff contacted me to have clarification, instead served a legal notice for "LOAN RECALL."
Kindly help me. Thanks in advance.
Kappil Cchandna
(Expert) 18 March 2015
Sir,
Share the copy of the notice .. For any correct opinion....
Regards
Kapil Chandna Adv 9899011450
Rajendra K Goyal
(Expert) 18 March 2015
Arrange the money, pay the balance and get rid of the problem.
Meanwhile may reply the notice.
SAINATH DEVALLA
(Expert) 18 March 2015
Kindly send the copy of the notice so that we can come to a correct conclusion. ECS gets cleared generally within the first week of every month from any financial institution.It cannot be according to our convenience.U were misled by the executive.Now that U have paid 5 installments better pay the rest and settle the matter.
