In year I had taken a laptop which was financed by Bajaj Finance company. The Bajaj Finance people from the local branch kept on taking cash payments from me as they told me that my cheques were getting bounced. It was quite confusing as I maintained an amount more than the EMI in the account, EMI was of around Rs 2700. When this continued for 5-6 EMIs as well I inquired my bank & found out that Bajaj Finance was putting up 2 EMI cheques every time. My bank gave me a detailed statement that showed every time Bajaj Finance was putting in 2 cheques for processing and as the amount in account was less than twice of EMI both the cheques got bounced. On that I paid a penalty of Rs 200-250 for each bounced cheque. i.e. 400-500 each month. So I lost around Rs. 3000 or so on penalties due to mistake of Bajaj Finance. When I tried to get in touch with the local office no body picked up the phone. The customer care told me to contact local office. Next time my cheques got bounced the recovery person promptly came to take cash for the EMI. I told him that company's stupidity has caused a loss of 3000 (500) & I will only pay the principle left (i.e. around 7000) minus the amount I have lost & I will make the remainder of payment when they handover the NOC to me as I did not trust them. So the person got me to talk to his senior on phone & he promised that the NOC will be given but I will have to pay the remainder right now & the NOC will take 10-15 days as it comes from Mumbai. I agreed to that & made the remaining payment. After that months passed & no NOC came. I called up the office but the number was disconnected. i went to the office address & found that the office have been closed. Called up customer care & they told me that I have to get in touch with nearest office (that was in Delhi). I gave up as there was nothing left to do. But last year I got a call from some person to make a payment of Rs 7000 (which he says is the outstanding) to Bajaj Finance. I told him everything but he said that the Meerut office was closed in 2006 & nothing can be traced to validate the same. When I told him that I still have the receipts & my bank statement which shows the mistake of Bajaj Finance he threatened me that money will be recovered. When I told him that I will take legal action against the company & will go to the police to file complaint against harassment he disconnected the phone & never called back. But recently I came to know from a credit card company that my credit rating has some negative value due to this loan. This is plain harassment on part of such banks & financial institutions. How can some agency give negative rating to a person on account of any bank's statement? They should consult the customer as well & know his side of the story. Ganging up on a customer is the cheap tactics followed by these institutions. Shame on them.
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