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Hello everyone, I took a car loan from SK Finance. After one year, I received a call from them saying that I have an excellent track record and am eligible for a personal loan of 1 lakh, which I took. Then, after 6 months, I sold my car to CARS24, and they foreclosed the loan. When I reached out to SK Finance for the NOC, they told me I would receive it in a month. However, after a month, I received a text from SK Finance stating that my NOC is on hold due to another active loan. No one informed me of this when I took the personal loan, nor was I told about it when I closed my car loan.
Sir, firstly you should check your loan agreements to see if there were any terms about active loans. If you have not received the NOC, send a written request. If finance company still does not respond, you may consider sending a legal notice with the help of an expert lawyer who will assist you in filing a complaint with the Consumer Forum or the Banking Ombudsman. For further legal assistance contact us on our helpline number.