Credila Education Loan — Irresponsible and utterly disorganised group

Address:

New Delhi, Delhi

I don't know how they (Credila) operate in such lackadaisical manner. I was initially (in Aug 2012) sanctioned the education loan in Delhi (after numerous rounds of discussion, document submissions and collateral proofs along with co-borrowers) for higher education. On the basis of this sanctioning, I started pursuing my masters in the US in the same month. After a few months, for their own reasons, they decided to decline my application (a signed agreement being already in place, which stated the sanctioned amount of my loan!). Thus in the middle of my course, I was left with no funds. While I had some relatives who were able to pitch-in the money for me to sustain in the US for the length of my education, I am wondering what would have happened if I was unable to source money from elsewhere! I would have had to halt my studies mid-way and return to India just because of the careless attitude of CREDILA staff. I am now fighting a battle to secure back all the documents (original property documents, cheques, other) that I had submitted to Credila during the time of sanctioning my loan. It has been 1.5 years and constant follow-ups with them fall on deaf ears and they still have not returned my documents! (They state that their policy mandates that I physically return to their office in Delhi and collect the papers!!) My only hope is that they act in a more professional and structured manner and that no other student, looking for education loan, should depend on Credila again! I am still to get back the original papers and documents but am struggling to get a sane and responsible reply from Credila. Robinson Current Location: USA