Dear Team
I have financed my new commercial vehicle MH15DK6484 with Mahindra and Mahindra finance from Nashik Maharashtra.
My Loan Account no is 2772664. This Loan was started in October 2013. But my vehicle got stolen on dated 23.05.2014.
I reported this incident to finance company to stop my installment on priority.
Because this was incident which was theft case. The insurance company the police station RTO office Finance company and I was deemed with this issue.
The installment was stopped effective on month of June. Till month of May the installment was regularly paid.
As checked if the full payment is done on month of June the settlement amount would be Rs.353850/-. But now due to incident and late processing of the insurance the amount from Finance company the amount comes around Rs.407000/-
Can you please help me. As already I am facing financial loss with my vehicle. Total I have paid 09 installment of Rs 9660/- Which is approx. Rs 86940.
Loan Processing charges and installment paid comes approx. Rs 100000/-
Loan provided by finance company Rs 400000/- After paying installments still amount shows Rs 407000/-.
As asked to finance company why the charges are charged to me.
They said fore closure charges/ Late payment charges / penalty of late payment.
I do not want to close the loan I can pay installment regularly but the amount which is claimed form insurance company RS 512665. They should handover me.
If this is not possible then no charges should be charged, because due to theft of vehicle loan is getting closed.
After insurance company had claimed a insurance to finance company. But the outstanding amount should be levied off to me.
I am hereby accept the payment of 353850/-. Due to incident of theft I am facing financial loss. After that claim is passed and finance company is charging me the penalty future principal and foreclosure charges.
Please settle this matter asap. As claim is passed and amount of Rs.512665/- is passed in Mahindra and Mahindra finance account. I need justice from Mahindra finance. Stop payment was due to theft of the vehicle and insurance claiming process.
Regards,
Kishor Nanaware
9004946662
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