| Address: Credila Financial Services Ltd. Fortune 9, 6-3-191/c/1, G-02, 102 & 201, Somajiguda, Raj Bhavan Road, Hyderabad, Telangana - 500082 |
| Website: credila.com/index.html |
Credila failed to disburse my education loan on time despite my payment of ₹37, 760 as processing fees. Consequently, I asked them to stop the disbursement. However, to my surprise, they made an unauthorized disbursement on January 30th, which was reflected in my CIBIL report. I returned the funds on February 2nd, yet Credila neither informed me about the CIBIL entry nor took the necessary actions to remove the unauthorized loan from my report.
Due to this delay, I lost my opportunity to study in Canada. Later, I secured an offer from a U.S. university for the September intake, but even after 21 working days, Credila failed to respond. As a result, I missed this opportunity as well. On July 23rd, I raised a grievance with the Credila Grievance team, outlining all the issues, including the unresolved CIBIL report problem. Despite having three months to address the matter, they failed to rectify the issue or take appropriate action.
Their inaction forced me to defer my U.S. admission to the January intake. Even after receiving a new offer letter, Credila delayed my application for 16 working days, despite assuring me earlier that my application would be treated as a priority following my first grievance. This delay, along with their failure to correct my and my co-applicant’s CIBIL reports by removing the unauthorized loan, caused other lenders to hesitate in providing me with a loan.
I then raised a formal grievance requesting a No Objection Certificate (NOC), an apology letter acknowledging the issues, and a refund of the processing fees, as Credila failed to deliver appropriate services and violated RBI guidelines. Despite initiating a dispute through TransUnion to address the CIBIL issue, Credila rejected the request to remove the unauthorized loan entry from my co-applicant’s report.
I have been subjected to immense mental distress due to Credila’s negligence and inaction. Their failure to address my repeated grievances with seriousness has directly impacted my education. I have already lost two significant opportunities due to their lack of accountability and service.
Due to credila I have lost two opportunities, to which are totally liable. Due to their unauthorised cibil reporting I'm facing hard time to convince other lenders that it's an error entry made. Even after giving them a chance to settle by today. They totally neglected it.
I have also reminded them of the violation of RBI guidelines regarding the unauthorised disbursement, Unauthorized CIBIL and delaying the loan processing. I have also cited the rbi ombudsman scheme also directly NBFCs to compensate for the mental stress and anxiety created but still they didn't take timely actions and resolve the issues. I have been living in a state of mental harrasment by credila from Feburary. Mentally I have been suffering I alot due to the inconvenience created by them, I lost two opportunities because of credila which has effected me with a career gap.
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