Anjitha Prasanth 27 March 2023

Emi being debited after issuing no due certificate

Hi Sir/Mam,

I had taken a loan from a private firm for my educational needs, due to some reasons i had to drop from the course and i was issue a no due/closure certificate from the financer. After 6 months they have started debiting emi amount from my bank account. I visited the bank for clarification but they are redirecting me to contact the financer. I contacted the financer over call and asked for clarification. Now they are defending saying that the no due certificate was issued due to technical error and I have to pay the emis. I did send several followup emails on the issue and they are not responding.

Is it possible to cancel the no due certificate once issued? How can I proceed with this issue? Kindly clarify

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Quick Summary

A user received a 'no due' certificate for an educational loan but is now being debited EMI payments six months later. The financer claims the certificate was issued in error and demands repayment. The user is seeking advice on how to proceed, particularly if a 'no due' certificate can be cancelled and how to resolve the situation, including filing a consumer complaint if necessary.

2 Replies

Real Soul.... (LEGAL) 27 March 2023

if you have borrowed the loan then it is to be re-paid , they may had issued in error about no dues.

you need to clarify with financer about that, if there was no loan and you borrowed nothing then file consumer comapliant.

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Rama chary Rachakonda (Secunderabad/Telangana state Highcourt practice watsapp no.9989324294 ) 27 March 2023

Registered users can lodge a complaint online with the National Consumer Helpline portal of Ministry of Consumer Affairs, Food and Public Distribution. Users need to register themselves with the portal to file or lodge their complaints online. One can also check the status of already filed complaints.

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