Veerchandra B Shetty (Service) 31 December 2019
Aditya Birla Finance has charged an amount of Rs. 1180/- as "foreclosue letter charges". This letter is issued to a customer who has reuested
for closure of his personal loan. So, is there any law where such charges also can be levied. In the sanction letter nowhere it has been mentioned about this charges.
G.L.N. Prasad (Retired employee.) 01 January 2020
Issue notice under CP Act to them and demand for laid down copies of such rules and regulations basing on which such charges were levied and such communication to the borrower while communicating sanction terms to ABF and acknowledgment of borrower accepting such terms and conditions.. Please come back after receiving a reply for further guidance.
T. Kalaiselvan, Advocate (Advocate) 03 January 2020
The charges for foreclosure of loan would find a mention in the loan application itself in the terms and conditions.
Hence you may visit the terms and conditions for grant of loan and make sure that it is not there for initiating suitable action through consumer forum against this unfair trade practice.
Dr J C Vashista (Advocate) 03 January 2020
Show the terms and conditions of your account to a local prudent lawyer for better appreciation of facts and professional advise.
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