RE:How to keep recovery agents at bay
by Aatmesh Aaloke on Jun 12, 2008 11:39 PM Permalink
Hi, Are you living in UP or BIHAR and keeping recovery agents at bay? For how many banks you are defaulter? Why not you are taking millions and migrating to bihar? What do you mean by your statement? Are you mean that people from bihar & up are not paying any back loan? They are much better payer than idiots like you. Think before writing.
Good idea, if government can vaive off to others atleast one time to all loan deafaulter, like recent farmer loan vaiveoff by the govt, then the whole nation would be happy & appreciating to the UPA govt
RE:Good idea, if govt could vaive off the loan like farmers, then citizen must happy and appreciate to UPA Govt for good cause
by SRG on Jun 13, 2008 02:16 PM Permalink
Good idea, my foot! you mean govt should waive off those loans which you had taken for enjoyment of luxuries from our money that is tax payers money. Mr sharma, farmers are growing food for the entire nation at greate personal hardship. they are not repaying because of nature's vagaries. Where as people are taking personal loans for their own personal aiyyashi. Please be reasonable
RE:Good idea, if govt could vaive off the loan like farmers, then citizen must happy and appreciate to UPA Govt for good cause
by pranjal shah on Jun 14, 2008 02:05 PM Permalink
Absolutley Right! Mr Sharma Think High, But Live Simple! Our Prime Ministers Words..Follow that and you would need any Loan. And Those who are against the Behaviour of goons, Imagine the situation exactly opposite, Wherein u have given money and not being Paid..What shall u do?
As per RBI's instructions the pvt bankers or their recovery agent can not behave like gunda or decoit or criminal. If any such mis-happening like abuse languages or misbehaaving to the clinet, then govt must involve and take action against the banker along with recovery agent
I think idea is very simple. Take the loan only for the amount which you can repay. Having car, mobile, big house on the loan is never been good idea. Think before taking any loan. Avoid the loan and avoid the recovery agent.
RE:dont spent money if you can not repay
by Global on Jun 13, 2008 11:04 AM Permalink
Pradhy,I pity your ignorance.It's Hindi which most (if not all) people in our country understand.For your convenience though,what he meant was "it's good to preach but the preacher should be competent & well-informed enough to hand-over an advise of this nature".I hope now the point made by him is very clear to you.BTW,I fully agree with him.It's almost impossible to take a house in most cities of India(Mumbai,Bangalore,Delhi,Hyderabad..the list is endless) and one has to go for a loan.The problem is at both ends..the scheming defaulters and inefficient,greedy,immoral banks,who will never take any blame on their part.If you genuinely drop your CC outstanding cheque in a drop-box and the bank loses it,who is responsible for it?The bank will never accept its fault and will rather charge interest on that outstanding.Why can't they devise a mechanism wherein a "drop-box" is replaced by a "collection clerk" who can issue a receipt immediately ? This way the customer has some proof that he actually deposited the cheque.If the cheque bounces afterwards then obviously the customer is to be held guilty but no mechanism can be as one-sided as the one in existence in our country.Kindly spare a thought for genuine,law-abiding,honest customers who suffer without any of their fault,primarily because of the high-handedness of some of these banks;the most notable ones in this category being ICICI,HDFC,HSBC,etc.
RE:dont spent money if you can not repay
by Simple Indian on Jun 13, 2008 04:46 PM Permalink
Hi Global,
I said that take the amount of loan which you can pay for it. Why I would take the loan of per month payment of 15000 INR when my monthly salary is 30000 INR and one your living in big money then try to earn enough amounts so that you can repay the loan. It looks like some one are defaulter and for defaulter, other person giving some opinion is like preaching. Who knows I am belongs to middle class or not but coming our form middle class to upperclass is not big deal. Not everyone is born with silver spoon. Updash tho sab diya karte hai liken jisne aache man se le liya uska hee bhala hota hia my dear. Doing payment by online is also one methods to pay the loan and you get instant approval.
RE:dont spent money if you can not repay
by SRG on Jun 13, 2008 02:55 PM Permalink
If you feel that drop box system is bad, why not use debit card. It is as good as credit card
RE:dont spent money if you can not repay
by SRG on Jun 16, 2008 12:11 PM Permalink
Tejas Shah: I Know the difference between debit and credit card very well. In case you dont know please note that though the credit card as the name suggests is about obtaining credit money, actual credit available is about 21 days to max 51 days (nationalized banks) depending upon billing cycle. If you have money to repay your credit card outstanding in 21 days then you can as well use debit card to avoid hassels of drop box OK.
RE:dont spent money if you can not repay
by Tejas Shah on Jun 15, 2008 12:12 PM Permalink
SRG - debit card n credit card are 2 different things. Though physically they look alike but the debit card is all about using your own money and credit card as the name suggest is all about obtaining credit money.
RE:dont spent money if you can not repay
by Simple Indian on Jun 13, 2008 04:36 PM Permalink
who said that buy the apartment in mumbai and stay in mumbai only. By the way I also from middle class soon I can buy the apartment in UP with taking loan.
So dear as per your ''gyan dena accha hai but aukad me rehke do'' aukat main rah kar hee baat kar raha hoon. I am not preacher like you.
RE:to keep them away
by Divya Bhatia on Jun 12, 2008 10:43 PM Permalink
how can that be done without money?People borrow money beacuse they don't have it?
RE:to keep them away
by asad hgjkf on Jun 13, 2008 10:05 AM Permalink
If u know u don't have the resources to pay the EMI, don't take loan, or take one of a smaller amount. Laws in India are inffective. If u wish to save urself from these recovery agents, u must depend on urself and not on others.
RE:banks
by yournutshell on Jun 12, 2008 10:15 PM Permalink
by the time you get the loan application from these public sector bank it will take 2 months & then 3 -4 months for the processing. be practical, no one has so much of time.
RE:RE:banks
by SRG on Jun 21, 2008 01:07 PM Permalink
In case you dont know, application forms are available online from web sites of almost all the public sector banks; It take 10 minutes to down loan one. If you care to read and understand the documentation requirement; it hardly takes 15 days to get loan sanctioned. Once you get loan sanctioned from PSU bank, after wards no hazzles. Dont talk about not having time; I am sure you are no Mukesh Ambani. These private sector banks have spoon fed a lot of bull shit about quick processing and after wards suck your blood. For your arrogance and attitude of not having time (man, you are buying your own home?) you deserve their fleecing. Best of luck!
I had procured a GE Cash card in 2004 and spent about 25000 on that card. I had already repaid around 10000 in the initial stages of my card and had been regularly paying the minimum amount due of Rs. 1500 for over 30 months now. But the GE person is still harassing and demanding Rs. 20000 more to close my card, what do I do now?
RE:RE:GE is the worst - harassed by GE Money - help please
by lalit gupta on Jun 14, 2008 06:23 PM Permalink
Bank is correct. If you had opt for EMI scheme, it will be around 76000 rs with an compound interest of 25% for 36 months. That means you still owe 25000 of the banck :)
RE:RE:RE:GE is the worst - harassed by GE Money - help please
by lalit gupta on Jun 14, 2008 06:26 PM Permalink
sorry its with a 50% interest rate around
RE:GE is the worst - harassed by GE Money - help please
by alert on Jun 12, 2008 09:15 PM Permalink
YOU HAVE ALREADY PAID 55000 IN 2.6 YRS FOR THE LOAN OF 25000. sue the GE MD for harassment. Report to the police.
RE:RE:GE is the worst - harassed by GE Money - help please
by Amit Kumar on Jun 15, 2008 11:49 AM Permalink
sent leagal notice to GE.It will cost you 1200 rs but you will get refund and stop harrasement. All multinational banks and finance co are Fraud They charge more than 10 % per month. Tha is the they never give loan to lawer,police,political person.
RE:GE is the worst - harassed by GE Money - help please
by sufiyanshaikh on Jun 13, 2008 10:12 AM Permalink
its simple just procure a statement of your transaction [payment] and talk to the person whoever is concerned to the case and the headache is over I M TOO A DRA
In HDFC Bank, the so called Branch Managers are MERE CLERKS with Glorified Designations. The so called Branch Manager can not even understand how to Build Relationship and SERVICE the Existing clients operating accounts with the Bank and they are only fit to be Deposit Collection clerks/ Agents. The Branch Managers have no powewr / nor WILL to remedy any Genuine Grievances of the Existing Customers. Only Faceless Centrally Controlled Back Office, who has no feel of the Customer and his conduct of Account should be pleased to give any remedy, if at all made. It is most Appalling condition in HDFC Bank, Customer Service is Non-existing.
RE:HDFC-Bank Branche mnager or Deposit Agents ?
by Venuopal Vinjamoori on Jun 12, 2008 09:51 PM Permalink
Yea, I agree. I too had got a bitter experience once with HDFC. I went to one of the branches for an amortization schedule for my home loan. Receptionist didn't know what it meant. I went to the manager. He as well didn't know what it is!!! It was quite surprising and annoying? I guess the manager might be a clerk as you righlty said.
RE:HDFC-Bank Branche mnager or Deposit Agents ?
by bahmophet on Jun 15, 2008 01:11 PM Permalink
even icici bank is same, they dont have any staff, but outsourced ones. only the manager is their staff, atleast, he wont run away with money.better to deal with our older banks like federal bank etc even state bank teek hai!
RE:HDFC-Bank Branche mnager or Deposit Agents ?
by adrgdr on Jun 13, 2008 10:09 AM Permalink
HDFC is the worst bank. Their ATMs do not accept CASH payments. If we make any payments in the Bank they charge 50 rs as processing fees. I am intending to close my HDFC Bank Credit Card
Banks make mistake and some times cheat like earlier they were not sending account statement on time for credit card due and claim interest in next statement.RBI should control cheating by banks.
RE:Working of Bank
by Tejas Shah on Jun 15, 2008 12:33 PM Permalink
If you dont get a statment on time and the bank levies int n finance charges - just call the bank and ask for wavier. I did the same and got the waviers in the next bill. The best option is to avail soft copies of the invoices on email - this will ensure that the system generated statements reach you on time.
The recovery agents are those,who had a past criminal record in that area. They get hefty commission & in special cases get special awards.These gundas are getting to snatch your movable property ,but in immovable cases,they become offensive. Always go for a loan from a PSU banks.
RE:Bouncers??
by Rajesh Sharma on Jun 13, 2008 10:21 AM Permalink
Absolutely right every body shouls take loan from a PSU bank.I have learnt one lesson though bitterly that if a office is very swanky with AC running full speed good looking receptionist and customer care executive sitting with Lap top to sort out problems BEWARE !!!!!! never ever take loans from these banks because they will promise moon but dump you in the dung in case you open your mouth.I had a very bad experience with ABN AMRO bank they milked my home loan account @ 13.5% lost my society membership certificate this too without informing me they acted in the most unprofessional.Everybody in the bank gives a very sweet smile as if the moment you explain your problem to them everything would be sorted out but the end result is ZERO always!!!!you have to go to bank end number of times and start the same story / explanation to a new Customer care executive.Thank God I have made a wise choice and shifted my Home Loan to punjab National Bank.
