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PI took a Personal Loan from Axis Bank of 6 lakh and A credit card. I repayed 3/4th of the loan but I could t pay the entire money back. The recovery agency advised for a settlement and I agreed to it. They sent a settlement letter for both PL and CC. I paid the settlement amounts. As of today I am still getting followup calls. They have also reached out to my family and friends saying that I have not paid the money. I called a bank officer who sent the settlement letter he said he will stop these calls. Can I write to banking ombudsman? Is there any other way you stop these calls permanently ?
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IIn many cases, it has been observed that TPAs make false claims just to make the defaulter pay some/any amount, as they get paid based on the amount they are able to recover.
This is why it is important to have everything properly documented. If you have settled the loan a/c and C.C. debt as mutually understood between the bank liaison, your case should have been closed and updated everywhere, and you should have received a closure letter.Do note that sometimes it can take a while before it is updated everywhere, which can result in overlap and TPA contact.
For this, the liaison officer should help ensure that you are not unduly harassed.If you think there are some discrepancies, you can first complain to the bank’s grievance department and later to the banking ombudsman.
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IDo you have any sort of official confirmation that an offer to settle was made/executed?
It does not take 45 days to share the settlement letter, oftentimes, they share that with you immediately. -
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