Finance company not paying their promised EMIs how to handle it

I took a personal loan from XX delhi. With loan they sold me a general insurance policy of their own brand which supposed to cover my 3 loan emi in I lost my job. Two month ago I lost my job and last month I asked loan sales manager who sold me policy to help me out in claim for cover my atleast 3emi but till date they are not responding even I mailed XX for claim but no reply. I written mail to XX officer and they are not answer about that. I have policy paper where clearly written that policy will cover 3emi for my loan. But their collection agents frequently calling for emi and rudely saying that we do not know anything you have to pay emi of this month as its due while I requested with XX in July 25th and that time they promised that from august month your emi will cover by XX insurance policy for 3 months emi. Now what should I do to handle this?

Answers (1)

117 votes

in this case you can send them a legal notice and state your demands and concerns . if they donot comply with the demands of the notice then you can file a civil suit for the recovery of money under order 32 of the civil procedure code.

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