Loan suppression leads to problems

Additional charges

I took a Top Loan from HSBC in January of 2007, which gave me 72 months to repay it. The last payment date should have been January 1, 2013, but I took a three-month loan suppression, which is why my tenure was extended for an additional three months. My last payment was made on March 9, but the bank has taken more than my monthly payment of Dh2,746. Instead they took Dh7,150.88. I had visited their Deira branch next to the Hamarain Centre on February 3 when I learned that the last payment would be Dh7,150.88, and even though I complained about it at the earliest to avoid them deducting the amount from my account, they still took the money. I asked the bank why they took Dh7,150.88 for my last payment instead of the usual Dh2,746.22, and they replied that it was because of the three-month loan suppression. Why would they deduct a balloon payment for the suppressed loan on the last payment, considering my loan tenure was extended for three more months? It means they took 72 payments of Dh2,746, which was my Top Loan contract, plus the three months for the suppressed loan when it should only have been 72 payments. I am looking to collect Dh4,401.66, which is the amount debited minus my regular monthly payment. My complaint has been going back and forth for the last two months and the bank always says the same thing. I request Gulf News’ help.

From Mr Melgaval De Guzman

Dubai

Mr Ahmad Othman, Regional Manager, HSBC, responds:

I would like to take this opportunity to thank you for sharing this customer’s case with us. Please note that we have contacted Mr De Guzman and an agreed solution has been reached to his satisfaction. Thank you once again for bringing this matter to our attention.

Mr De Guzman responds:

I confirm that case has been resolved. I would like to thank Gulf News for helping resolve this matter.