[Resolved]  Fullerton India Credit Company — RE: Loan and Insurance

Dear Sir,

Finance Name: Fullerton India credit company
Loan No: [protected]
Loan Amount: Rs 50000
Amount Received : Rs 45180
EMI: Rs.3167
Total EMI: 24 months
Total amount Payable : Rs 76008 where interest alone Rs.30828 for two years for the amount Rs.45180


Address of the company
Fullerton India Credit Company
Swarnapuri, Salem
33/12, Rajaji Salai
Swarnapuri,
Salem - 636 004
(Landmark: Above Salem Bus Owner's Association Office)
Branch Code: 0131


I had got loan from Fullerton India credit company from the branch in Tamilnadu, Salem - 636004, The loan amount was Rs:50000, in that they have charged Documentation and Insurance for Rs 4880 and they had given me only Rs.45180 in hand. They said you will be receiving loan copy in 15 days of loan confirmation. where the Insurance policy covered, 1) Health Insurance, 2) Loss of job for 6 months, 3) Accident insurance, 4) Disability insurance, 5) Family Health cover and 6)General illness . I Got loan on 19th june 2009 and till now i did not receive any insurance copy.

I had paid two EMI of Rs 3170 and i had loss my job and the company which i had worked in tirupur had been closed and i can able to pay EMI only after i get a job, so i had requested them to claim the EMI through Insurance . and now they are telling that they can claim only if the company must be closed all over in India, But while getting loan they told me if there is loss of job you can claim through insurance and its compulsory. insurance copy also i did not receive yet. now for past two months i cant able to pay EMI so i had requested them to give me some time till i get job after that i will pay. but they are not ready to give and also 4 - 5 peoples coming to my home in Salem city and shouting at my parents and talking rudely and also not leaving my family until i pay the EMI for the month, Now am in Bangalore searching for the job. when i contact their manager through mobile and i asked about the insurance they are not responding and they are telling only to pay the emi and when i asked them what is the use of paying for the insurance . He is speaking very rudely and telling If you died we can claim the amount or at least if you get disability through accident we can claim the loan amount and that is the benefit and please do that.

The second EMI i paid in their office in cash on the due date itself and i already informed them before 15 days not to deposit cheque in bank. but every month they deposit cheque and also collecting bouncing charge of Rs.512.

I Can pay EMI only after i get a job and Please take Necessary action against their manager for telling me to die or get disability so they can claim the amount. also for cheating me in insurance, bouncing charge,

Thanks & Regards
Sudharsan.S
[protected]
Bangalore