I have signed a home loan with ICICI Home Finance Limited in 2008. I'm unable to continue the loan anymore due to financial constraints. I've written and begged their management for the closure with no luck. The property is in Sainikpuri, Hyderabad and I work in Bangalore. Please see the below email thread and PLEASE help me in getting rid of this loan.
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RE:'ICICICARE=039-147-299' Closure request for
ICICIHFL A/C # NHHYD00000773658
2 messages
Jenish Shah
To: Alok Kundu
Wed, Sep 15 at 5:58 PM
Dear Mr. Kundu,
We refer to your e-mail of September 12 addressed to Senior Management regarding your Home
Loan Account.
We are looking into the concerns raised by you and will respond to you on or before September 20.
Thanking you for writing to us.
Sincerely,
Jenish Shah
Manager – Senior Management Desk
&--Original Message&--
From: Alok Kundu ([email protected])
Date: Sunday, September 12 10:17 AM
To: [email protected] ([email protected]); [email protected]
([email protected]); [email protected]
([email protected]); [email protected]
([email protected]); [email protected]
([email protected]); [email protected]
([email protected]); [email protected]
([email protected]); [email protected] ([email protected])
Cc: [email protected] ([email protected]); [email protected]
([email protected])
Subject: Closure request for ICICIHFL A/C # NHHYD00000773658
Hello Anita & The Mgmt,
It’s a desperate email with a hope to seek some assurance in closing this house loan.
Loan Account Number # NHHYD00000773658
Borrower Name # Alok Kumar Kundu
Borrower Contact # 91 9342788850
Alternate Contact # 91 9901331696
With deepest regret, I want to inform that I’m unable to continue this Home Loan. I’m in terrible financial crisis since
2008. At the time of availing loan, my company had promised a hike in Dec'08 which didn't happen. Even 2009 and
2010 are going without any financial aid that can help me re-paying such a huge installments every month.
I have taken multiple personal loans (ING VYSYSA PL2160288222; Local Financiers, Muthoot Finance Limited,
VMware Personal Loan) periodically to run the installments and have been paying the House Loan EMIs till February
2010 and now it’s all over.
Our combined income (my wife’s and I) were 32K 8K = 40, 000.00 Rs monthly at the time of availing this loan and
our Hose Loan EMI came around 30, 000.00 Rs.(later which varied between 29.x to 27.x). I had hopes for something
better this year but there isn’t any financial improvement and on top of that my spouse lost her project in October’09.
With great difficulty we are somehow managing to survive in this over-priced expensive city, Bangalore.
Ever since I stopped making payments, I am in lookout for buyers but I’d admit that I don’t have that striking
SELLING skills to convince a customer for a final deal. There were over 10 customers till now and their range were
somewhere between 22 to 26 lakhs. Hyderabad market is picking up fast and so is the property value now.
I’ve been to your Bank in Bangalore and have been requesting for a closure but all I get is a statement, “Bank has
done favor to you” which I disagree. I was pushed hard looking out for a buyer, which I did and my father should
have those contact details whom I failed to convince and they walked out from the deal. Mr. Ravi did show interest in
closing the loan on a condition where I’ll need to pay around Rs. 4, 00, 000.00 to the bank. He isn’t ready to consider
the EMIs that I’ve paid for so long. I’m struggling for survival here and I don’t have any resources to get money from.
It was a deal between the Bank & I which I tried hard/pushed myself to the extreme to abide but I failed. Having said
that, I am not requesting for the property. All I request the Bank is, to seize the property and consider my so far paid
EMIs towards final settlement.
I am exhausted and undergoing heavy mental distress. I request the Bank for a compromise and freeing me out of
this horrifying monster installments.
This is a desperate call – please assist!
Regards,
Alok.
Bangalore.
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Jenish Shah
To: Alok Kundu
Mon, Sep 20 at 3:26 PM
Dear Mr. Kundu,
We refer to your e-mail of September 12 addressed to Senior Management regarding your Home
Loan Account.
You have approached us for a financial assistance for a sum of Rs. 26, 60, 823 and the same was disbursed
to you in 2008 - vide Loan Agreement No. NHHYD00000773658.
At the time of availing the Loan, you were fully aware of rate of interest, tenure of the Loan, Equated
monthly installment along with other details as the same were clearly explained to you besides being part of
the loan agreement. Based on the same, a Loan agreement was executed by you. In terms of the loan
agreement, you had agreed to make timely & regular repayment of loan installments which is the essence
of the contract.
As per the attached statement of account, we find that you have not made the EMI payments from March
2010 and the total outstanding including EMI overdue of Rs. 1, 85, 682 & other overdue charges of
Rs.10, 488 is payable by you. We understand that our officials are following up with you for the payment
but the same is not received from your end owing to financial constraint. We request you to arrange
payment against the outstanding reflecting in your loan account.
We understand that you are in touch with our official Mr. Ravi K and request you to approach our bank
officials in case you need any further assistance on the issue.
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