Personal loan
Ramchandra Rajbhar
(Querist) 22 July 2012
This query is : Resolved
i m taken personal loan amount of 55K Rs. from fullerton india in may 2010. when i m taken loan they was asked me the interest rate is 21% but now i understand they are charging me 43%.i m already paid 6855 but still pending is 30K,.i was not receive any copy of loan agreement.need solution they are now disturb me for the balance amount payment.
Devajyoti Barman
(Expert) 22 July 2012
This is a case of unfair trade practice.
File a case before the Consumer Forum and pray for compensation.
malipeddi jaggarao
(Expert) 23 July 2012
If u have taken loan of Rs.55000 and paid Rs.6855, the balance should be Rs.48145 where as you are claiming that the pending amount of Rs.30000/-. While availing loan you must have signed bunch of documents and it is so that one of the clauses could be rate of interest chargeable is double if there is any default. You can send a request of statement of account and check the interest charged. If you found any errors, you seek a clarification by registered post. Then they will reveal the fact of your signing the documents with such clauses. You can ask for a copy of the documents which you would have signed while availing the loan. If find that there is no fault of you, can gather the above papers (or keep the proof of your demand for such documents) and file a case before the Consumer Forum. However, though you have not given full facts, it appears the contents posted are not correct as you availed loan of Rs.50000 in 2010 and paid only Rs.6855 till now. And now you are disputing the charging of interest!
Ramchandra Rajbhar
(Querist) 23 July 2012
actually paid amount by me is 68550Rs. not 6855Rs.i m paid 25 EMI of 2742Rs. please suggest me some solution .
SAINATH DEVALLA
(Expert) 05 August 2012
AS stated by MR.Barman this is really an unfair practice taking advantage of the ignorance of the terms an conditions of the loanee at the time of documentation.No one is bothered to have a look at the terms and conditions,as we are eager to the take the loan.We only lend them our ear to listen orally.Gentleman,visit the office meet the manager narrate ur financial problem and ask them to provide them a one time settlement of the loan.They will certainly reduce the interest and the other charges incurred in the process,as you are not a total or a wilfull defaulter.
