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HDFC / Personal Loans / documents forged by hdfc

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HDFC has taken my application for Personal loan purpose, Sales executive has brought many documents to sign, among of those document they had faked my previous releasing letter, which i was not aware.

They found its fake... and claiming a penalty of 2% as penalty.

People are getting fooled with hidden charges and they are also not sunk my personal loans still wanted to claim 2% penalty...

Plz somebody suggest what to do!



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A  27th of Sep, 2007 by 
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Hi Shekar,

Welcome to the club!! In my opinion,since you have taken a personal loan and haven't given them any power of attorney over any of your assets,tell them to ### off. Even if you cant repay your loan,they cant do a ### to you legally since it is an unsecured loan and that is why you pay anything from 14.5 to 20% interest on it. The high interest charges offset the defaults the bank may face from any of their clients.The situation in India is going to reach a climax soon cause the default rate is gonna shoot up like hell. Forget the economy and share market.Those inflation figures are easily manipulated by the govt by cutting taxes on fuel imports etc.And the share market has jumped to 17000 because of the FIIs pumping in the money. And who are the fII's?Our good old friendly Netas of the country with all their black money stashed abroad. The situation in India as far as loan defaults is concerned is going to go the sub prime way in the US. You just wait and watch the fun!! ### the banks. They are supposed to tell you the interest rates on the disbursal letter. They are supposed to send you a copy of the loan documents which you have signed. Have they done that?I doubt it. Anyways don't worry too much about it.Just keep the amount you have given them by post dated cheques out of the loan amt. Incase they file a case for dishonor of cheques.In that case, let them litigate after sending you the notice and then go in front of the magistrate and tell him that you will give them the money on the post dated cheques from a friends account. Tear your cheques once they give them back to you. Give them the amt from your friends account in front of the magistrate. Thats it.

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