Ge money personal loan
Settlement issue

Sir,

I had availed Rs 36000/- personal loan from GE Money on September. I had also sanctioned a top up loan of Rs 10325/- after few months. I have received a letter from Leagum Associates, Delhi demanding to pay Rs 62089/- . But I have taken only Rs 46325/- only and paid more than Rs 56654/-. I stopped paying emi s to Ge money collection executives because in March GE Money executive from Calicut office insulted my wife (she was also working in my office) in front of others. My colleagues are also witness to this incident. I wanted to lodge a complaint at local police station (Kasaba Police station, which is next to our office), but my wife (she is physically handicapped person) said to me let it go and don't make it an issue. In 2010 July I received a call from GE money Chennai office, asking me to pay a sum of Rs 7000/- for full and final settlement. But she asked me to pay Rs 7000/- the same day itself, as I was not having Rs 7000/- I could not pay the amount.

On 28-9 Mr Biju Lal from GE Money Calicut office called me and demanded me to pay Rs 17500/- immediately. I asked him to give me more time, as I could not raise Rs 17500/- immediately, and he threatened to take legal action against me. I am ready to pay with in 2-3 days if settlement (full and final settlement) amount is Rs 10000/-, because I have paid more than Rs 56000/- of Rs 36000/- loan. It is the top up loan which is causing the problem. I am ready to pay Rs 17500/- if have given at least 1 month time.

On 18-10 I received a call from GE Money Kochi offcie, Mr Antony Reagan, demanded me to pay Rs 8000/- immediately and balance Rs 9500/- next month. I told him I have only Rs 3000/- with me and I promised to pay the remaining Rs 14500/- by 11th November as I will get a chitty. But he threatened me to take legal action against me and he said that court will attach all my property. From his words, I think he is not interested in amicable settlement.

Sir, please let me know the interest rate approved by Reserve Bank Of India on personal loans in India. I am ready for a full and final settlement, but I need at least 3 weeks time, so that I can arrange money.

Looking forward to hearing from you

Yours truly

Rajeesh P

Company: Ge money personal loan
Country: India
State: Kerala
City: Kozhikode

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