Credit score dropped due to unfair late payments on my gold loan account
2 years ago
I have taken two gold loans at the same time from Andhra Bank (now Union bank) and renewed them after an year. But when I checked my credit score from cibil recently, there are 11 late payments on one of these loan accounts. I have visited the branch, zonal office numerous times regarding this. It has been 4 months since I started visiting these offices. Finally today one credit department employee from zonal office called and informed me that I haven't paid appraisal charges on the loan account and hence the late payments. But no one at the bank even told me to pay anything when I applied for the loan and I'm completely clueless that something like that even exists. No one at the bank even informed about such a thing. Can I please know what should I do? Because of these late payments I'm not even able to apply for credit card or personal loan.
A.Dear Client,
It is the negligence on part of the bank for not disclosing all the relevant information, which is equally affecting your credit score. File a complaint with the banking ombudsman regarding the default in the service.
Thank you.
You need to send them a complaint letter marking a copy the banking ombudsman stating all the facts. If they correct their mistake then its good other wise you can file a consumer case for deficiency of service.
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