Hi all, My loan repayment period got over in August 2008 and suddenly this month, the bank is calling up early December and demanding I should pay Rs 4,500 as late fee charges for my loan repayment. What the fuck were these guys doing until now? I know how this bank functions! You miss one payment and they come knocking at your doorstep. Is Legal option a good option? I am demanding I need an explanation from ABN AMRO about their silence for these 3 months and ABN AMRO just says I have to pay up. Does anybody have a similar experience? Warm Regards, Dilip Samuel
If you did pay up your installments late, then if specified in the loan agreement, you would be liable to pay up the late fees... Do re=check the loan agreement once again, and see whether there is any clause which states about their right to demand for penalties even after complete re-payment of loan... Regards, RightMan
had similar problem with tvs i paid the amount in september month and in december first week two guys come to my home and says u have not paid for the month of september they are still callling me an eating my head if i call their toll free no on answer just passing on the call and putting on hold, its good that i got the bank statement, recheck your agreement as Rightman said
Many of the private banks in India are notorious for the methods adopted to recollect the loan amount and some of the private bank credit card holders have interesting stories to narrate...
That's ridiculous of them to ask 100% as late fee, did you had any previous dues or any cheque bounces?
Read the terms and conditions carefully. If you did pay late, and they said that they would charge a certain amount, then you are liable to pay it.