I had taken a personal Loan from HDFC
bank, Delhi in Dec 2006 and the first installment was due on 7 Jan 2006.
However HDFC made the first deduction on 26 Dec 2005 and made another

one on 7 Jan
2006. Upon calling the loans department I was told that the money was
transferred in my account a day before the scheduled date so the deductions
also started a month before. Due to this a couple of my credit card and other
payment cheques got bounced. Dye to that I had to pay a heavy penalty. I
requested HDFC to fix the problem but I got a cold shoulder. I kept on chasing
them but the results were not fruitful. Just to add insult to the injury I started
getting calls from collection people and I was harassed and abused over the phone
many a times. Later on when I stopped making payments then they started responding
to my mails and calls. And after a long wait they suggested to open a new loan account
and close the first one. Which sounded reasonable as they promised me that the fund
would be internally transferred and I would get rid of all the problems. I signed
the entire documents and sent a request to close the first account and open a new
one against the balance. Once the new account got operational, I started making
regular payments. Then I requested HDFC to return all the documents issued against
the first loan (PDC’s, etc) and also issue a NOC for the old loan account. When
I did not get any document back for another month then I called them again to check
the status and I was told that the documents have been misplaced. And they again
stopped responding to my requests. Eventually I had to stop my monthly payments
again to attract their attention. However I am again getting harassing calls from
the collection department of HDFC and still there is no resolution to my problem.
Kindly suggest me a way out.

 

Gaurav

How long have you been with this Bank?

Less than 3 years