Dear Consumer Forum,
I am writing to formally lodge a complaint against Bajaj Finance Ltd. regarding the unethical practices, misrepresentation of loan terms, and ongoing harassment I have faced.
Details of the Complaint
Complainant Name: Palak Parin Shah
Loan Account Number: P418PTP14468324
Mobile Number: [protected]
Email ID: [protected]@gmail.com
Nature of the Issue
Misrepresentation of Loan Terms: I was offered a loan with a commitment of 12% per annum interest. However, after signing the agreement, I was shocked to discover that the interest rate applied was 27% per annum. Despite raising concerns, the loan amount was immediately disbursed without my consent to these revised terms.
Hidden Charges: I was assured that no hidden charges would apply, yet my loan statement reflected a deduction of ₹25, 000 in unexplained fees.
Harassment by Collection Agents: Despite my attempts to resolve the issue through numerous emails and phone calls, Bajaj Finance failed to address my concerns. T...each time I have only received assurances with no concrete action. Due to this lack of resolution and the ongoing harassment, I was compelled to stop paying my EMIs, despite initially making one payment in good faith.
Relief Sought
A thorough investigation into the misrepresentation of loan terms and hidden charges.
Rectification of the loan agreement to reflect the originally promised interest rate and removal o[censored]njustified charges.
Immediate cessation of abusive collection practices and a written apology from Bajaj Finance.
Compensation for the mental harassment and reputational damage caused.
I trust the Consumer Forum will treat my complaint with the seriousness it deserves and ensure justice is served. I am attaching relevant documents, including email correspondences and loan agreements, for your reference.
Thank you for your prompt attention to this matter.
Sincerely,
Palak Parin Shah
Loan Account Number: P418PTP14468324Mobile Number: [protected]Email ID: [protected]@gmail.com
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