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Let them do their part of sending legal notice. Unless you acknowledge with your sign and you get a call from the court they are no one to wreck even a single hair strand. Ignore those B*****s. They use abusive language, drag other members of the family as they not only have the defaulted data but each and every family members data and they will harass you. You have the right to file a police complaint. If they want to recover the money then they should officially get a letter for attachment of assets from the court. And that will happen till they prove you are not bankrupt. Most people think that a lawyers notice is a legal thing.. there are 1000s roaming around the court who ant afford their own tea.
Ignore them. Live your life. You are in India.
Ignore them. Live your life. You are in India.
Jo11111's reply, Oct 20, 2022
You are right. I made a mistake of paying Rs 10000 as a part of settlement against an outstanding of Rs 30000. However in cibil they have reported an outstanding of over Rs 6 crore. So basically even after settling my account my cibil score has not improved. Plus the harassment that my friends, relatives and colleagues went through. Shaha finlease employees would call and harass them.
Hi.. pls don’t settle your account with Shaha finlease. I have had a very bad experience with them. I settled my account against an outstanding of Rs 30000 however they reported by cibil an outstanding of over Rs 6 crore. And inspite of settling my account my cibil score hasn’t improved. Pls do not settle your account with them. It’s an unsecured loan and they can’t do anything.
Take this to twitter tag FM, if many pople join they will be exposed.
Shaha Finlease can be termed as the new age money Lender who by means of extortion, threat and various other method try to extract money from the innocent ignorant people.They buy NPA from reputed banks, keep mum on the issue over a period of time, may be a few years, Baloon and inflate the O/s amount written off, Sanction new Inflated amounts by these banks and then try to extract the maximum money they can by was of threat and extortion from the innocent people.
Classic example is how can a Cc/loan amount of 30, 000/- be inflated to 6 Crs and the settlement be done for 10, 000/-.
Probably Shaha Finlease would have approached the customer after 6-7 years after the NPA was sold to the said company by the reputed banks.Now the question is why did Shaha Finance not approach the said customer the very next year????Why did the company take so much time in approaching the customer was it a deliberate delay?On what basis is the company charging exorbitant interest and penalty charges and inflating O/s Amount on a written off Cc/Loan ?Have they the right to sanction new Credit Card /Loans limits on the basis of which they charge interest and penalty without proper paperwork and customer signatures.
The answer to these questions is very simple .
In short the company had purchased these NPA from the banks at discounted prices which would be atleast 50%-60% of the written off amount or even lesser.
2)Only under such circumstances can they provide a settlement for 10, 000/-.
3)What they try to do is inflate the O/s amount to infinity, send legal notice and try to reach you, They would call you, threaten you and try to extract maximum amount which can be squeezed from you and settle the amount.In case they have provided a settlement letter it would be beneficial for knocking the doors of the judiciary system or else you may find them approaching a few years after with another inflated amount of O/s and the circle goes on...So beware.
They are similar to the old aged tradition of money Lenders who use to exploit, manipulate and crush the illiterate people during the pre British era as well you can still find them in remote villages. The government had banned such type of money lending activities to protect the poor, illiterate from being exploited.
The GOI/RBI should initiate corrective actions against such NBFC who are making a fool out of ignorant people.All should stand up against such NBFC.
Classic example is how can a Cc/loan amount of 30, 000/- be inflated to 6 Crs and the settlement be done for 10, 000/-.
Probably Shaha Finlease would have approached the customer after 6-7 years after the NPA was sold to the said company by the reputed banks.Now the question is why did Shaha Finance not approach the said customer the very next year????Why did the company take so much time in approaching the customer was it a deliberate delay?On what basis is the company charging exorbitant interest and penalty charges and inflating O/s Amount on a written off Cc/Loan ?Have they the right to sanction new Credit Card /Loans limits on the basis of which they charge interest and penalty without proper paperwork and customer signatures.
The answer to these questions is very simple .
In short the company had purchased these NPA from the banks at discounted prices which would be atleast 50%-60% of the written off amount or even lesser.
2)Only under such circumstances can they provide a settlement for 10, 000/-.
3)What they try to do is inflate the O/s amount to infinity, send legal notice and try to reach you, They would call you, threaten you and try to extract maximum amount which can be squeezed from you and settle the amount.In case they have provided a settlement letter it would be beneficial for knocking the doors of the judiciary system or else you may find them approaching a few years after with another inflated amount of O/s and the circle goes on...So beware.
They are similar to the old aged tradition of money Lenders who use to exploit, manipulate and crush the illiterate people during the pre British era as well you can still find them in remote villages. The government had banned such type of money lending activities to protect the poor, illiterate from being exploited.
The GOI/RBI should initiate corrective actions against such NBFC who are making a fool out of ignorant people.All should stand up against such NBFC.
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+91 89 7606 9758
713, 7th floor Vihaan building , Opp nutan chemicals walbhat road, Goregaon, Maharashtra, India - 400063
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it is requested that without proper knowledge for any company you should refrain yourself for jumping on a conclusion.
your fathers name was put in cibil by standard chartered bank for not paying what he was suppose to pay and then after NPA sold to us.
we would request you to please write us with your fathers details to [protected]@shahafinlease.com and we will be happy to help you.