Sayyam Investment Pvt Ltd — Loan Marked as Written-Off Despite 37,760 Paid in Extension Fees No NOC or Resolution Provided

Dear Sir/Madam,

I am filing this complaint against PayRupik (operated by Finzcart Financial Services Pvt. Ltd.) and its loan partner Swayam Investment Pvt. Ltd. regarding unfair loan practices, non-response to grievances, and incorrect credit reporting.

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📌 Loan Details:

Loan Amount: ₹40, 000

Disbursed Amount: ₹37, 640 (on 09-May-2024)

Loan Duration: 28 days (with 2 EMIs: 14 days apart)

Loan Partner: Swayam Investment Pvt. Ltd.

Extension Fees Paid: ₹37, 760 (across 8 payments)

Last Payment Date: 25-Sep-2024

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⚠️ Issue Summary:

Even after paying ₹37, 760 as extension/penalty fees, PayRupik has wrongfully marked my loan as “Written-Off” in credit bureau reports (CIBIL, Experian, etc.), without issuing any NOC or Loan Closure Letter.

I have sent multiple emails to PayRupik requesting correction, closure, and explanation, but they have not responded at all.

This unfair reporting has severely impacted my credit score, and I am now being denied loans despite having paid almost the full amount.

Also, the extension fees charged are extremely high and unclear, which raises concerns of non-transparent and exploitative practices.

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🙏 Relief/Resolution Requested:

1. Instruct PayRupik and Swayam Investment Pvt. Ltd. to issue a proper Loan Closure Certificate / NOC.

2. Ensure they update credit bureaus (CIBIL, Experian, etc.) to correct the loan status.

3. Take regulatory action against them for not responding to consumer emails and misreporting account status.

4. Ensure they do not harass me or damage my credit score further.