Loan Balance transfer scam

S

Sudarshans028

New member
Bank Name
IndusInd
Loss Amount
70000
Ratings
1.00 star(s)
I applied for 10 lakh loan recently. I did not opt for balance transfer when i applied because My existing loan from INCRED of 3.25L was only three months old. The banker asked me if i want to opt for balance transfer for this existing loan, I thought the banker have more knowledge about the process and may be it is possible for a BT. But when the amount is disbursed, only 6.5L was transferred to my account and the bank sent DD of 3.12 L in name of INCRED Finance and asked me to submit to them. This process pf DD was not at all explained to me whereas I thought everything will be taken care from bank end. Now that I have received the DD, I travelled to INCRED office multiple times and they rejected the BT because as per the policy the loan should across minimum 6 months. I am mailing this issues to bank from last 3 months but they are ignoring and I also paid one emi of 21k which is for 10L loan. This month I did not pay because i have received only 6.5 L and they started adding charges 1k each day instead of resolving my issue. I have borrowed 3 Lakh loan from other lender thinking that i will receive my remaining 3L from bank but It seems like i will not receive the amount. Now I am in debt trap with loss of nearly 70k, who is going to compensate? Is this really a ethical way?
 
Hello @Sudarshans028

We have carefully reviewed all the details. Based on our thorough evaluation, we regret to inform you that the only viable option left is to file a case before the nearest District Consumer Disputes Redressal Forum.
You can file the case through the online e-Jagriti portal: e-jagriti Platform: Ministry of Consumer Affairs, Food, and Public Distribution, Government of India

To initiate your complaint, the following documents need to be submitted:
  1. Index – A list of all enclosures/documents attached.
  2. Memo of Parties – Details of the complainant(s) and respondent(s).
  3. Affidavit – A sworn statement verifying the contents of the complaint.
  4. List of Events / Chronology – A timeline of key events related to the issue.
  5. Supporting Documents – Invoices, receipts, communication proofs, warranty cards, etc.
We can assist you by:
  • Drafting all the necessary documents (Index, Complaint, Affidavit, List of Events, etc.)
  • Uploading and filing the complaint on the Consumer Forum website on your behalf
  • Guiding you through the hearing process and next steps
If you would like to proceed, kindly confirm, and we will begin preparing your case files right away.

Thanks
 
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