I had taken a consumer loan from Bajaj Finserv. While I took the loan I gave all my details as well as a cancelled cheque which mentioned my account no.

After taking the loan every month they sent their agency person to collect the payment and since I am away from pune due to office work, my wife or my parents used to make the payment without any questions. Now on the 1st of August, I suddenly went to take another consumer loan from bajaj and they declined it saying that my credit rating was not good. I was shocked to hear that as I had a good relationship with bajaj and I did not have any other loan or payments outstanding with any other bank. When I asked for clarification i was let known the fact that every month my cheques are bounced so thats the reason I have a bad credit.

I called up the bajaj Customer care people and when I confronted them stating that my account always has balance then why are their ECS not going through they let me know that when the form was filled for the loan their agency people had inserted the wrong account number and hence the reason for the ECS getting bounced. I am really perplexed and annoyed because every month they are collecting cash but they dont have the civility to let the customer know so that he can give a second cheque even though its not his fault. And now they are asking me for 1400 bounce charges as well as the last EMI Repayment. I have categorically stated that until and unless I have a written apology letter stating that it was a mistake on their part I am not willing to make the payment. Also the most important thing is that because of this error on their part they have just hit my Cibil Rating/Score every month because of which I will be unable to get any future loans. i am really depressed in the way Bajaj has handled the situation and I want compensation and apology regarding the harm and injustice they have caused to me.

I have also complained regarding this to the consumer forum and also will take legal action in case I dont have proper answers and documents stating that Bajaj Finserv lending is liable for the root cause of this issue and the same letter has to be sent to the Cibil department so that my credit scores can be altered and refreshed.

Sourav Basu
Tingrenagar, Pune 411032, MAHARASHTRA
Email: sourav-basu@hotmail.com
Contact No.: 8007999853
IP: 118.95.126.79 / August 6, 2012 / 12:31 pm



This article has 9 comments

  1. We are afraid certain things are not clear to us in your complaint. If you have opted for ECS where is need for making separate payment everything as, we believe, ECS is an automatic process deducting the loan instalment from your nominated account. Moreover, if you have been making payments in cash where is the question of cheques bouncing.

    In any case, we feel it is important for you to put the issue on record. Therefore, we suggest you write to Bajaj Finserve stating your complaint, putting the onus on them and seek remedy. Failing any remedial steps from their side, you will have to consider taking further legal steps.

  2. Hi

    I had signed the form for ECS and had also given Bajaj Finserv Lending the cancelled cheque as proof of account. The representative of Bajaj finserv entered the wrong account number in the ECS form and hence as a result the whole complication arose. If bajaj would have accepted the mistake then only and asked me for a new cheque I could have issues it. But they did not.
    And even after taking the money in cash every month now they are stating in the last loan month that I need to pay 1400 as Bounce Charges whereas it waas not my mistake due to which the payments did not happen.

    I have also mailed them and spoken to a senior Personnel from their company but to no avail.
    Please help me regarding this.

  3. we suggest you write to Bajaj Finserve stating your complaint, putting the onus on them and seek remedy. Send your complaint by Regd. post with AD or through reputed courier and obtain PoD. Failing any remedial steps from their side, you will have to consider taking further legal steps.

  4. Dear Sourav,

    At the outset, please accept our apologies for the inconvenience caused. To help us expedite the process of resolution, could you please share your loan account number with us?

    With regards,

    weCare
    Bajaj Finserv Lending

  5. The loan account number is 4020cd00155746.
    and I have already sent a mail to your email id.

    Plus also to make sure until I receive a written apology from your end I am not going to make the last EMI payment as well as the So Called Fraudulent bounce charges that you have levied against me.

    Sourav Basu.
    8007999853.

  6. Dear Sourav,

    Thank you for sharing your Loan Account Number.

    We have already initiated the process of resolution of your query. You shall hear from us in the next 48 hours.

    During this time, should you wish to contact us, please write to us on wecare@bajajfinservlending mentioning your Loan Account Number in the subject.

    With regards,

    weCare
    Bajaj Finserv Lending

  7. Hi

    I have sent you a secure PDF format of my account statement which has been directly issued by my bank. I have also sent you the password to open the document.
    I really hope that now you people will understand that the fault was on your part and not on my part.

    Regards
    Sourav Basu.

  8. Sir/madam
    My gold loan number is GL3719408
    I’m takend loan of 25000,after 2 yrs I will pay the total interest & penalty, but branch member telling ur account is closed .(punganur,A.P517247).
    Pls do the my case

    Thanking you

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