Exclusive HOLI Discounts!
Get Courses and Combos at Upto 50% OFF!
Upgrad
LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Subhash   14 March 2016

Cant pay further installment

Dear sir, 

I had taken a personal Loan of 2.36 Lacs from Fullerton Credit India ltd. Mumbai....They charged me 24% ROI for the loan. Emi - 7757/- for a period of 48 months. I paid 18  months EMI  successfully, then i contacted for  top-up of loan.But they didnt responded and  after that i was Jobless for a time and i shifted to Jaipur with my family and grandfather to care off since i was the eldest in the family. I have not paid the last 7 EMIs since i got a low salary package here in Jaipur. So it was impossible to extract EMI from the salary. I got a call from Collection dept/Settlement dept and spoke to me in a very foul language which i cannot describe. My sister was harassed mentally over the phone again and again for no involvement of hers. Now they r harassing me over the phone and forcing me to pay the overdue amount which i cant pay. I talked abt settlement but they r charging too much which is next to impossible.

Respected all....plz avise me on the same and how to go abt it.

 



Learning

 2 Replies

Adv. Yogen Kakade (+ 91 9225510883)     14 March 2016

No financial institute or bank can use bad language for the purpose of recovery.. if you get such calls anymore.. record those calls and file a complaint against the bank authorities as well as the recovery agents. And about the repayment, write a letter to the bank authorities mentioning the facts of your economic conditions and ask for the time to repay.. As you have obtained the loan, it is your liability to repay the amount.

 

Adv. Yogen Kakade

Jurycon Incorporation

Advocates & Consultants
Email: juryconincorporation@gmail.com
Web: www.juryconn.in   Call: 020-65248888

Subhash   17 March 2016

If i go for a settlement for an XYZ amount. Will the bank provide me a NOC letter mentioning no dues remaining for the same.They r saying that once i pay the settlement amount I will receive the settlement letter on the same day but will receive NOC after 15 days. But there is a catch, they r not giving me anything in black & white about the NOC thing.

Plz advice


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register