I took a car loan from Citibank 4 years bank. The period of loan was five years and the amount was 4 lakhs. I have completed 4 years of the loan and now running the last year. Last year due to a job loss I missed around 2 emis and at the beginning of this month, I received a notice from the legal department of the bank that they have filed a case against me for non-payment of loan.
I was shocked to read the lawyer’s notice. It was full of all sorts of false information. The pending loan amount was Rs.1, 21000 according to their statement sent in march 2011, but in the notice it was mentioned that I had a pending amount of Rs.2, 32, 000. Another incident that happened is that one of their collection agents got the money from me, gave me a receipt and just disappeared.
Apparently he didn’t deposit the money in the bank. Citibank did not credit that emi in my account and according to them I have 3 emis pending. Also it was mentioned that I was seriously trying to sell the car illegaly and that I was not a law abiding citizen. I couldn’t believe that a bank would file a suit against me if I miss just 2 emis.
I have never ever known such a bunch of cheaters called citibank, and everyone would do well to stay well clear of them. They would go to any extent to get back the money and more. They imagined that I would just ignore the notice and they could get an order from the court to seize the car. But they didn’t know who they are messing with and I filed a counter suit. Now the case is posted for hearing on 1st july. I will post the update.