Need help in settlement of your credit card dues or personal loans?
Facts of the case: Complainant, Tapan Bose, had taken a loan of Rs. 3,40,749/- to purchase Maruti Swift, from the opposite party, ICICI Bank. The opposite party had already taken post-dated cheques, so the monthly installments were paid on time. A few installments had been collected through ECS and cash as well. After 3 different […]
With about 21 million people losing their jobs due to the pandemic, according to the Centre for Monitoring Indian Economy, Banks and NBFCs have gone into a collection overdrive resulting in recovery agencies calling double the borrowers than pre-Covid-19. The recovery process usually involves negotiating certain conditions of the loan agreement to help the borrower […]
Facts of the case: Complainant, Suresh Kumar, had taken loans of Rs.8,50,000/- and Rs.4,85,000/- from the Opposite Party for purchasing trucks to earn a livelihood through self-employment. Despite regular payments of the monthly installments, the complainant claimed that the opposite party had employed hooligans for forcible repossession of the truck that was delivering perishable goods. […]
A loan dispute is a common issue between a customer and a bank. All loans, whether personal or otherwise involve many technicalities that result in misunderstanding and dispute. The foremost basic thing, whenever a dispute arises, is to seek out the loan agreement and be aware of what the dispute is and why it occurred, […]
Credit score is a numerical value about an individual’s creditworthiness. This score helps lenders decide how likely a person will repay his/her loans in time. It plays a major role in determining a person’s eligibility for financial assistance in the form of loans. Therefore it is very important to pay one’s bills on time. Deferred […]
Sh. Bhupinder Sondhi v Abn Amro Bank Facts of the case: The plaintiff, Sh. Bhupinder Sondhi, had approached the defendant bank seeking financial support to buy motorcar Santro in the February of 1999. A loan of Rs.2,54,000/- was allowed to the plaintiff. The market price of the said car as of 08.02.1999 had been Rs.3,08,504/- […]
Facts of the case: The plaintiff was engaged in the business of printing and desired to purchase a commercial vehicle under hypothecation from the bank. Plaintiff had furnished relevant document in order to get a loan for the vehicle (Tavera) which was worth Rs.7,68,000/- The defendant asked the plaintiff for a payment of Rs.40,000/- which […]
Facts of the case: The petitioner, Debanjana Debarman, had purchased a car on Hire Purchase Agreement from ONGC Colony Branch of State Bank of India. ONGC Branch of SBI agreed to finance the petitioner with Rs. 2,40,000/- which were to be paid in 72 instalments of Rs. 4.501/- each. During that time, the petitioner’s husband […]
Facts of the case: The respondent, Mrs. Shanti Devi Sharma, alleged that on 29.11.2005, two recovery agents (referred to as ‘goons’) forcibly entered her son’s bedroom and harassed him to pay the loans that were due on his vehicle (two-wheeler) and personal loan. She further stated that these ‘goons’ had repossessed the vehicle in the […]
Facts of the case: This case took place in Ernakulam, Kerala. The petitioner, Mrs. Alphonsa Johny, had borrowed a car loan of Rs.4,65,000/- from the respondent, Mahindra & Mahindra Financial Services Ltd to help set up a business for her son. Due to set back in business, she had not paid Rs. 22,500/- of the […]
Need help in settlement of your credit card dues or personal loans?
