[Resolved]  Lic Housing Finance Ltd. — ECS Problem with ICICI Bank

Address:

Adyar, Chennai, Tamil Nadu

Our loan re-payment have started from the month of June 2013 and since then the ECS payment fails continuously for the second consecutive month.

The reason for the failure told by LIC HFL was that the ECS Mandate was not active in the bank.

But when I checked with the bank, they cannot notice any problem and they gave me the below proofs:
• An email communication was sent on 11-Apr-2013, confirming the ECS mandate was activated (attached for you reference).
• Required funds were available in the respective bank account on the ECS instruction date. (attached bank statement for your reference).
• There were no ECS return charges incurred in the bank account, which stands proof that there were no ECS requests received by the bank and failed. (attached bank statement for your reference).
• If LIC HFL can produce an evidence for the failure, we can look forward to attend to it.

Because of this we are facing the below difficulties:
• We have only our elderly father to wander around the respective offices to fulfill the required procedures.
• We are unnecessarily end-up in paying penalties for those reasons that we are not at all responsible.
• And on top of everything, we are losing our reputation as a defaulter.

Given below the details of our loan:
Loan Number [protected]
Date of Sanction 23-Apr-2013
First Disbursement Date 22-May-2013
Re-Payment Started Date 10-Jun-2013
ECS Instruction Date 10th of Every Month

Given below the details of the re-payment:
S. No. Date Amount Remarks
1. 10-Jun-2013 13,315.00 ECS request not received, but LIC records says it as a default and we paid through DD with fine on 26-Jun-2013.
2. 10-Jul-2013 32,262.00 Still not received the ECS request and obviously this might have been recorded as a default in LIC HFL and we may again need to pay through DD with fine.

I would request you to look into this matter and streamline the process or suggest me an alternative methods for failure-free re-payments.

Regards,
Mohammed Sadiq