ADVOCTE PARESH R.PAREKH (advocate) 31 October 2012

Mortgage loan related query with credit card issue

Respected all,

i take mortgage loan from icici bank before 5 yaers,i regularly pay emi about 4 years,but due to financial problem last one year fail to pay emi.before one month with bank officer i settle this loan issue and pay full amount as per agreement and officer give me assurence that within a 15 days you recieve your original sale deed and other documents.but before 1 week i call him and and inquire about my documents than he reply that your credit card outstanding with our bank and you pay your outstanding amount than we realese your documents beacuse from credit card department your documents is blocked untill you are not paying c.c.amount.

so i want to guideline by you that what i should do? and how i collect my documents?is there any rules for compulsory pay for c.c. to release my documents?

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1 Replies

ABHIJEET PARIKH (Bcom LLB MBA) 31 October 2012

Dear Mr Parekh

There are not any specific rule per say but It must be internal policy of Bank to refuse but nevertheless credit cards r entirely diff product and has nothing to do with mortgage of property. If u have taken some credit from credit cards and that is within the time limit to be payed then banks cannot stop u from get back those documents

You must have signed mortgage deed wat r the terms of the deed is der any terms related to payment of other products outstanding amount ?

Write a letter to your bank and make them understand that credit card has nothing to do in mortgage of property

Your remedy lies in ur mortgage deed.

Regards