Cholomandlam DBS Finance Ltd
Additional charges asked for cancelling Hypothication

Hello Sir,

I recently discovered that there are some pending charges against my 2 wheeler Loan (Loan No:- 158118).

I have finished paying all the EMI's regularly, along with the bank's percentage every month against this Loan by the year 2009 itself.

I has been asked to subscribe via ECS to begin the loan payment, and was informed that I can shift to any mode of payment further on. Based on this from the year I had been paying the amount to the collection agents from this bank.

They assured me that I has no further outstanding payments towards the bank, and that the bank will send forth my hypothecation cancellation letter immediately by the year 2009.

After receiving no communication regarding this, I approached the bank head office in Parrys Corner and asked them information regarding this.

I was shocked when the Bank casually informed that I still have a out payment of 12, 000 still from cheque bounce charges and only after clearing this, will I be able to cancel my Hypothecation with the bank. After repeatedly requesting the employee of the bank, he informed that I would still have to pay Rs. 8000 after wavier.

Where as I was not informed about such happenings, If the bank or its collection agents would have informed me about such charges, I could have solved this problem earlier itself.

But, the bank and its collection agents have

not passed on the correct information about this activity, and have been dormant from after which, I had to personally visit the bank for such information.

I am unable to pay the bank with these extra charges, and am finding myself bullied with a question as 'You should have been aware of all this'. Being a student I am busy with my course work, and I found no time to look into this subject earlier, and did not expect such a outrageous charge amount after all these years, as the EMI's were collected smoothly and on time.

I Kindly request you take a look at this at the earliest and bring forth a solution for all the parties involved.

Bank details:- Cholomandlam DBS Finance Ltd.

Address :- No;- 2 NSC Bose Rd.

Employee contacted :- E. Kannan.

Loan No:- 158118