Vehicle Seized
1 year ago
I had Brought a Jupiter in 2017 and i was paying the emi as well, there were 4 emi pending which i was not aware off and no one Called me and update about the pending emi, After 3 years the muthoot people came and Seized my vehicle putting all the charges at 29k and wants me to clear them, and im asking them a Settlement amount with discount so that i can pay they are Wantedly making me wait what can i do
A.Dear Client
I will advise you to get your loan agreement and terms and conditions reviewed to check if there was any clause that required you to be notified about pending EMIs. Then put a request to muthoot to provide you with a detailed breakdown of the charges and ask them why the vehicle was seized without giving any prior notice. Please consult a lawyer who expertise on consumer laws and debt collection to know the best possible options for you.
I will advise you to get your loan agreement and terms and conditions reviewed to check if there was any clause that required you to be notified about pending EMIs. Then put a request to muthoot to provide you with a detailed breakdown of the charges and ask them why the vehicle was seized without giving any prior notice. Please consult a lawyer who expertise on consumer laws and debt collection to know the best possible options for you.
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