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VMy father took a mortgage loan from an NBFC and we submitted a foreclosure request 15 days ago. We live in a nearby town and my father went to their office three times until now.
I have sent a couple of emails to their grievance redressal teams and still they are not giving any response. Even after 15 days they are telling they don’t know when the foreclosure letter will come and they are saying it might take another 15 days.
Their website clearly states that after submission of request, within 21 days they would give foreclosure letter. I wanted to escalate this matter to their L3 grievance redressal team but my father is afraid that if something happens it would hit our prestige in the town and our house documents are with them.
I am feeling very sad that if they really take another 15 days, I would have to pay another emi and the interest component in that emi is 40k. What are my options?
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UNot a Lawyer: But here is what I would do. Since 21 days have passed, will reach out to their channel of escalation (15 days wait period). There would be two outcome possibilities:
1. They share the foreclosure letter. I would pay the money. Get my documents back and then reach out to their escalation desk again asking for the compensation. If they agree to this, good else I would report them to RBI Ombudsman for malpractice and ask for the compensation along with the interest on the compensation.
2. If they do not share the foreclosure letter, write to RBI Ombudsman detailing everything and demanding adjustment of interest payment in the overall foreclosure amount.
In any case, do remember that your priority is to pay them and get your documents. Once that is done, the world is your oyster and you can get compensated.
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