[Resolved]  ICICI Bank — Harassment over Personal Loan after 8 yrs

Address:

Chennai, Tamil Nadu

Loan Account Number: LPCHE[protected] Amount: 3Lakhs Paid EMI: 120000/- I have taken a personal loan with ICICI in 2006. I was supposed to move abroad by Jan 2008. And as per my company instruction of closing the pending payable, I went for a foreclosure with both ICICI PL and Standard Chartered Credit Card at the same time. An agent of ICICI collected a check for foreclosure amount of 175000/- for ICICI and 48000/- cash for full payment to Standard Chartered card on Dec 24 2007 in Chennai. He gave me the letters and challan associated. The check I gave was of ABN AMRO bank. At the same time, I gave two checks to my parents to use that for their expense, along with a letter to ABN AMRO to close the savings account, advising parents to withdraw the pending amount using the check given. After that I moved abroad. All these days I was in an idea everything was settled. But all of a sudden on 29th May 2014, means after 8 full years I received a call from an executive of ICICI Chennai stating my loan account was not repaid and I have absconded and they have traced me by spending money for Detective agencies. At first I thought some one was bluffing. But then he mailed me a statement stating I have a total outstanding of 6lakhs+. I told him that I gave a check to their collection agent and it was all closed. For that he replied they never got any check and its not their issue with the collection agent. Then I verified with ABN AMRO bank (now Standard Chartered) and found the account was properly closed, and the last withdrawal was by my parents. And also the check issued to ICICI was not even deposited. I told this clearly to the agents who called me. And asked them to give me some time so that I could consult with my advisories on what to do. Then after two days I myself called the agent who called me and said, "I know I made a mistake of not tracking the check status, but why didn't ICICI intimate me for these 8 yrs." For that both the agent and his superior told me that ICICI contacts only the mailing address and not the permanent address given in records. Which was so funny reply for me, as to my experience even if there is single default payment for one month EMI/Credit card these agents call the permanent address and land-line immediately. Then I told them I am ready to pay. But in this case both bank and myself are at fault. So please give me some time, and kindly suggest me the feasible amount as ICICI has already written off the loan amount and also its over 8 yrs and you call me out of blue. For that they gave me two options. 1. Pay remaining 180000/- as single installment with in a day 2. Pay remaining 280000/- (pending emi) as two or three installment For which I replied, my present status does not allow me to pay that much money. Kindly give me some time and more flexible options. As I really want to close this issue in best possible way for both bank and myself. But they were so stubborn on the above conditions. I even told them it will be possible for me to save that much amount and payback only after october or so. For that the agents are so stubborn and telling me borrow some where and pay us. My queries are listed as below. a. I have issued the cheque to collection agent of ICICI eight years back. If the cheque has bounced or if there is no proper payment of EMI, I am pretty sure and even everyone around will understand that these agents/bank will immediately contact the addresses and contacts provided. Why didn’t they do so? b. I go with the fact that collection agent failed to give the cheque to bank and EMI was getting cleared till April – 2008. Right from May – 2008 they say the EMI’s are pending and not a single call or notification from ICICI to the addresses provided. (My permanent address and the registered email address are all the same till date in ICICI records) c. I am getting a reply from ICICI that they notify only the mailing address and not the permanent address. In that case, why did I receive a call after eight full years to my apartment resident, whom I have never seen or spoke to in my life time? And how did they get this new mobile number of mine which is just around 6 months old. d. Forget about my queries a, b, and c. My permanent address is registered and it’s still the same with my father residing there. Why there isn’t a single call or notification from ICICI or its Collection agents for these eight full years. e. Now out of blue they come up and say I have to pay around 2.8lakhs to the max if I don’t agree to pay in the installment options they give. f. The Collection agent gave a statement that I am absconded for eight years and they have spent money to detective agencies to trace me out. I really need an explanation for this. As I would like to know which eminent detective agency and bank didn’t even bother to leave a note at the permanent address they had in their records. Forget about the cash part. If I am entitled to pay I sure will pay and I stand by that. But please do advise why I would have to pay when these queries are left answered. 1. I am ready to pay, but not the amount/installments as described by ICICI collection agents. 2. This loan being written off already as per CIBIL and Bank statements, the advice from my friends and relatives in top postings across various banks and institutions are to ignore the calls of collection agents and take them legally. But I being correct till date in all my financial dealings want to close this off in a mutual possible way without much dragging in consideration with my present financial situation and expenses around. 3. Being a written of loan, I would never agree for an amount which is Pending due/Pending EMI and also One installment offer or two installment offer. I need a solution to close this account for all. But the amount and EMI has to be meaningful. I am at no fault. It’s all the fault of ICICI collection agent and ICICI bank who failed to submit and also failed to contact or inform me in this past eight years. With all these queries left unanswered I started receiving numerous calls from those agents. They even call my professor who taught be engineering well before 10 years. And today to the worst case I have received 15missed calls continuously to my mobile and 5 calls to my office land line. And now they want my present mailing address so that they could send their collection agent with the closure statement and collect the cash. With all the set backs in approach by ICICI 1. Do I really have to pay? 2. Do I really have to pay it in a day 3. Even when I told them their mistakes and I am ready to clear it why am I being harassed like this. I hope you could understand my queries concept and the queries I have posted. Kindly advise me on what exactly could be done over the same. Contact: [protected]@yahoo.com