[esteem_lover]

Originally Posted by windsurfer

Due to the urgency of the loan processing, I gave them HSBC bank cheques to start processing the loan.

You should have never done that. They wait for suckers like you wanting everything urgent.

Originally Posted by windsurfer

Will TMFL be refunding me Rs. 1000?

Your reputation with HSBC & your credit history together has gone for a six, why worry about a 1000.

GTO has spelt out in clear terms where you have gone wrong. Now if you want to sort this out, go their office & don't come back until you have your HSBC cheques with you & make sure you write the date etc on your citi cheques too.

[LLL]

Originally Posted by Karandeep81

LLL isnt the RBI Ombudsman service only for complaints against the bank facilites/procedures and not for finance companies ?
if that's not the case then yeah i think thats the best possible action to be taken

I think since its providing a typical banking svc (providing loans), you should be able to send it to RBI.

[LLL]

Originally Posted by windsurfer

BTW, What is the process to pre-close this loan and go for a personal loan? I am tired of these guys?

This is what i did with Stanchart...

Visited stanchart, told them i want to close the loan. Was told i couldnt do it.
Spoke to Sr manager, who said they will have to take an approval from management

I told them do what you need to do, here is the cheque of remaining amt+ pre-close charges and i am not paying anymore EMIs.

Soon got all the cheques back, but NOC took a few days and another visit to sr manager.

So prep yourself to take a few leaves and some running around...

So much for MNC banks and their better customer service....

[windsurfer]

Originally Posted by esteem_lover

You should have never done that. They wait for suckers like you wanting everything urgent.

Your reputation with HSBC & your credit history together has gone for a six, why worry about a 1000.

The hurry in processing loan was due to the availability of 2 Palio 1.6. With rumours floating around that Fiat could dis continue this engine, i was desperate to get this car. I was informed to pay at least 50k - 1L down payment to avoid any surprises. Another option was to clear the loan, which would help me do the same. As i could not sell my old car quick enough, I had no other option but to process the loan ASAP. I know that was a stupid thing to do. But, the good side is i will be careful in future.

I am not worried about 1000 bucks but my credit history. With the later getting screwed and beyond repair and i being charged for no reason, why i should not ask for that refund.

[BaCkSeAtDrIVeR]

Why dont you put down what you want to say - every thing - on paper, (use the word processing program on your computer and the printer between yourselves and the paper!!!), read it again the next day, delete every word / sentence if you have said anything for the 2nd time, and end the letter with "if you do not (1) return my cheques and (2) write to HSBC that presentation of the cheques was their mistake, you will take TMFL to the consumer court."
Send the letter by fax, with a HANDWRITTEN endorsement that this is an advance copy, sometime early morning (9.30 - 10) and send it by registered post in the evening, if you do not get a response to the fax by, say, 1 PM.
Be prepared to get an advocate to send a follow up, serious threat.

[LLL]

@ WIndsurfer...what ever has happened has happened. let this be a good learning opportunity. I have been burned badly by Stanchart (paid 11k as pre-closure) and ABN Amro (had credit card issues but got solved using RBI BO).

follow the RBI BO path and see what happens.

[windsurfer]

Thanks LLL. Did not have time this week as i was not feeling well and then they were some urgent issues at work. I am planning to close this by this weekend. Will update you as what happened??

Thanks everyone for their suggestions.

BTW, i still did not get any response from TMFL for my mail. (not that i was expecting). I will write a mail to RBI also depending on how things go this weekend.

Cheers

[LLL]

wildsurfer...any updates? hope tmfl has returned to its senses?

[windsurfer]

Guys,
I had gone to TMFL in July. The issue was very stupid. The guy who had come to collect the cheques from my office did not whom to address the cheques to. He gave me incorrect info. The stupid guys, had modified all the cheques and citibank as expected refused to honour them. This had happened about three months back and i was informed when i had been to Hyderabad office. I finally signed the cheques where modifications were done and hoped that all would end finally.

But, it all started again today. They called back saying that my cheques are not cleared though i have bank statements proving that last 7 cheques presented to Citibank (after visit to their) were cleared. I have called them today to the office and also planning to esclate. i just need some proof from their side as to why they think payments were not cleared. I am hoping that they are still tracking the HSBC cheques. If that is the case, i would take the relevant documents from them and then proceed with full evidence. As of now, i just have my bank statements.

Anything else, I need to get from the guy who would be coming to meet me?

[LLL]

only thing i can think of is - ask them how you can transfer your loan to a better organized thug....

Also make sure you send a registered letter to them and write that they have collected the last 7 cheques and you have not defaulted on your emi's.