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RECOVERY OF LOAN CONTRARY TO THE AGREEMENT
26-Apr-2023 (In Banking / Finance Law)
availed a HBL from a society. Rs 10 lac @ 9.25% p.a on a condition to submit doc of property in 3 months else to pay addl 2% penal charge. I didnt submit it and they started levying 2% extra and revised pena charge every two year and now it is 15%. whenever, revised the rate they calculated it from starting and added the amt to the principal and levying interest for that added amount. now they started deduction of double EMI @ 13586/- quoting loan-1 and loan-II whereas i have not availed any second loan and now my salary is in -ve and no way to live.
Sir,
For accurate remedy of your query need to see the actual loan agreement signed by you and the stated terms and conditions.If you don't have it you can get it from the loan providing agency and then we can adequately proceed.For better solution please fix an appointment or call me.
For accurate remedy of your query need to see the actual loan agreement signed by you and the stated terms and conditions.If you don't have it you can get it from the loan providing agency and then we can adequately proceed.For better solution please fix an appointment or call me.
Helpful?
14+
14+
Adv. Anand Shukla
Delhi | 100+ Answers
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You have not explained the reason for not submitting the housing docs. You could have avoided this if you had submitted the same. Any further advise on this would depend on examination of the loan documents signed by you, info such as tenure of loan, no. of years repaid etc.. It is important to compare the charges with your repayment scheduled agreed to by you. They are not legally authorized to act in a manner that is against the loan document. If indeed, the society is charging beyond what is permitted, you can always proceed to stop the payment. Do share more info and documents for further help.
Helpful?
10+
10+
Adv. Joydeep Nath
Delhi | 100+ Answers
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