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MuthoothPersonal loan closure through BT(DD)


10-Jun-2024 (In Recovery Law)
I have applied for loan on nov 2023 from Muthooth finance which is expected to be close after 6 EMIs on repayment of outstanding amount along with foreclosure charges. Now i wants to close this loan through BT -DD from HDFC bank but now the Muthooth is saying that they cant accept DD as they have changed their policies . They are only accepting online funds .Also now they are saying their policy have changed from 6 months to 9 months . What should i do now? As i am paying interest on both side
Answers (2)

Answer #1
538 votes
Thank you for reaching out about the changes made to your policy by the insurance company. I understand your concerns and recommend that we review your policy documents carefully to determine if the insurer has the right to make such changes while the policy is still ongoing. If we find that the insurer has breached the terms of the contract, we may have grounds to take legal action. Specifically, we can consider filing a civil lawsuit against the insurer for breach of contract. Please provide me with a copy of your policy documents, and I will review them thoroughly to determine the best course of action. If we proceed with legal action, we will seek compensation for any losses or damages you have incurred as a result of the insurer's actions.
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Advocate Kriti Gupta

Adv. Kriti Gupta

LawRato Delhi | 25+ Answers
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Answer #2
666 votes
Hello Sir/mam On which terms and conditions you had took loan you are only bound to that terms and conditions as they had changed their TERMS AND Conditions after you took loan . There are several remedies to deal with this . You can contact me over phone call fur further assistance. Thank you Regards Advocate Kuber Hooda
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Advocate Kuber Hooda

Adv. Kuber Hooda

LawRatoPanchkula | 700+ Answers
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