Finance company sold my car for FNF of loan and now have sent a notice


i took loan from PVT finance company after some months i unable to pay loan they hand over my vehicle and sold in full and final settlement they provided me the statement and told to me loan was closed and out standing amount is 0 and out standing EMI 0 nothing due from my side as per their statement but after some months they deposited my cheque and withdrawn my amount 25000/- from my account and now once again deposited another cheque around 55000/- cheque was bounce due to insufficient bal so they sent me cheque bounce notice i am unable to pay the amount how can i face the sititutation pls help me.

Answers (2)


260 votes

In the first place, the finance company can not deposit the cheques after loan amount is cleared and no dues certificate is issued, it is at your discretion, if you want to file a case against the finance company, you can file for recovery of amount, compensation and cheques


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220 votes

Hi,
Do you have full and final settlement letter and no due certificate from the finance company or not? If you have both the letters you have the rights to fight against the finance company.
Please send a reply notice to the cheque bounce of Rs 50,000 through a
Lawyer in your jurisdiction. You have the right to fight against the finance company. So, please consult an advocate near you for immediate action against the finance company.
Please submit all the documents to the advocate for reply notice. If you have any query , call me.
Thanks for your query.

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