Mobikwik Zip Loan incorrect reporting and unfair late payments fees

[Sahilhenzy]

See now,

I have three loans from the Mobikwik Zip EMI lending partner Transactree Technolgies Private Limited (Lendbox).

So from April my EMIs are getting debited on 6th of every month instead of 5th of every month this resulted significant drop in my CIBIl report 817 to 680.



Who is at a fault me or mobikwik or its lending partner. These bastards reports 1 day late payments also. Whereas credit card has 3 days extra for to do payment so they won't report it to credit bureaus. But see these bastards they reported very next days. This month also Auto debit happened on 6th instead of 5th. which is hampering my records very negatively.

Please share your thoughts and RBI rules regarding this.

 

[doraemon]

U can mail the respective parties with detailed information and proofs
And ask for correction in reports at earliest

If they deny/don't show intrest
Involve rbi in the scenario

Tagging experts
@VISHESH_BANSAL @Vasuki @varun__goel_

 

[Vasuki]

U can mail the respective parties with detailed information and proofs
And ask for correction in reports at earliest

If they deny/don't show intrest
Involve rbi in the scenario

Tagging experts
@VISHESH_BANSAL @Vasuki @varun__goel_

@Tejo sir ko bulao

 

[Shubham Yadav]

See now,

I have three loans from the Mobikwik Zip EMI lending partner Transactree Technolgies Private Limited (Lendbox).

So from April my EMIs are getting debited on 6th of every month instead of 5th of every month this resulted significant drop in my CIBIl report 817 to 680.

View attachment 52929

Who is at a fault me or mobikwik or its lending partner. These bastards reports 1 day late payments also. Whereas credit card has 3 days extra for to do payment so they won't report it to credit bureaus. But see these bastards they reported very next days. This month also Auto debit happened on 6th instead of 5th. which is hampering my records very negatively.

Please share your thoughts and RBI rules regarding this.

Do you have document that showed 5th date for EMI deduction ?

 

[Sahilhenzy]

U can mail the respective parties with detailed information and proofs
And ask for correction in reports at earliest

If they deny/don't show intrest
Involve rbi in the scenario

Tagging experts
@VISHESH_BANSAL @Vasuki @varun__goel_

Yes bro nbfc and mobikwik ko mail dala hai including nodal desk, grievance team also.

 

[Vasuki]

U can mail the respective parties with detailed information and proofs
And ask for correction in reports at earliest

If they deny/don't show intrest
Involve rbi in the scenario

Tagging experts
@VISHESH_BANSAL @Vasuki @varun__goel_

@Tejo sir ko bulao

See now,

I have three loans from the Mobikwik Zip EMI lending partner Transactree Technolgies Private Limited (Lendbox).

So from April my EMIs are getting debited on 6th of every month instead of 5th of every month this resulted significant drop in my CIBIl report 817 to 680.

View attachment 52929

Who is at a fault me or mobikwik or its lending partner. These bastards reports 1 day late payments also. Whereas credit card has 3 days extra for to do payment so they won't report it to credit bureaus. But see these bastards they reported very next days. This month also Auto debit happened on 6th instead of 5th. which is hampering my records very negatively.

Please share your thoughts and RBI rules regarding this.

Lending partner is liable for reporting not mowobik

But maybe data sent by mowo..

But in the end lending partner reports.
So contact lending partner..

Mowobik is just a dallal ( dogla dallal)

 

[Sahilhenzy]

Do you have document that showed 5th date for EMI deduction ?

Yes I do have. It is mentioned in the sanction letter and also visible in the Mobikwik application.

 

[Sahilhenzy]

@Tejo sir ko bulao

Lending partner is liable for reporting not mowobik

But maybe data sent by mowo..

But in the end lending partner reports.
So contact lending partner..

Mowobik is just a dallal ( dogla dallal)

Sahi baat hai bro. 5th ko automatically payment kat jaata tha but suddenly April se payment 6th ko katne laga.

 

[praful47]

See now,

I have three loans from the Mobikwik Zip EMI lending partner Transactree Technolgies Private Limited (Lendbox).

So from April my EMIs are getting debited on 6th of every month instead of 5th of every month this resulted significant drop in my CIBIl report 817 to 680.

View attachment 52929

Who is at a fault me or mobikwik or its lending partner. These bastards reports 1 day late payments also. Whereas credit card has 3 days extra for to do payment so they won't report it to credit bureaus. But see these bastards they reported very next days. This month also Auto debit happened on 6th instead of 5th. which is hampering my records very negatively.

Please share your thoughts and RBI rules regarding this.

Do they provide option for manual payment?

 

[Sahilhenzy]

Do they provide option for manual payment?

Yes but my all payments was done through auto debits.

 

[doraemon]

Yes but my all payments was done through auto debits.

One basic question
If I on the auto debit option in kotak app for cc bill payments
And pay early by any other mode
Will auto debit still kick?

 

[praful47]

One basic question
If I on the auto debit option in kotak app for cc bill payments
And pay early by any other mode
Will auto debit still kick?

Yes it will be debited , auto debit (Nach) is an automatic payment system , we pr bank cannot stop payment deduction.
Amount will automatically deducted on the said date

 

[praful47]

Yes but my all payments was done through auto debits.

Remove auto debit and pay manually next time . Sometimes auto debit creates mess If there is something technical fault.

 

[Sahilhenzy]

One basic question
If I on the auto debit option in kotak app for cc bill payments
And pay early by any other mode
Will auto debit still kick?

Yes it will be auto debited.

 

[Tejo]

One basic question
If I on the auto debit option in kotak app for cc bill payments
And pay early by any other mode
Will auto debit still kick?

Nope,

If you paid your bill before 3 working days of (may change institution to institution) due date and bill settled then there won't be any auto-debited, it might be cc or Loan ... emi's.

It depends on bank and their infrastructure too.

 

[Tejo]

See now,

I have three loans from the Mobikwik Zip EMI lending partner Transactree Technolgies Private Limited (Lendbox).

So from April my EMIs are getting debited on 6th of every month instead of 5th of every month this resulted significant drop in my CIBIl report 817 to 680.

View attachment 52929

Who is at a fault me or mobikwik or its lending partner. These bastards reports 1 day late payments also. Whereas credit card has 3 days extra for to do payment so they won't report it to credit bureaus. But see these bastards they reported very next days. This month also Auto debit happened on 6th instead of 5th. which is hampering my records very negatively.

Please share your thoughts and RBI rules regarding this.

Actually if auto-debit not happen by end of working hour, let be 6pm then you should manually pay (Bank Transfer).

 

[Sahilhenzy]

Actually if auto-debit not happen by end of working hour, let be 6pm then you should manually pay (Bank Transfer).

But auto debit may happen next day also. Other nbfc company do give 4-3 days to pay. They don't report it as a late payments to credit bureaus.

And how funny this nbfc is saying to contact mobikwik 😂.

 

[Tejo]

But auto debit may happen next day also. Other nbfc company do give 4-3 days to pay. They don't report it as a late payments to credit bureaus.

And how funny this nbfc is saying to contact mobikwik 😂.

i think extra 3 days applicable to normal loans too.

once verify in your key fact statement.

 

[Sahilhenzy]

i think extra 3 days applicable to normal loans too.

once verify in your key fact statement.

That's why the issue. These bastards haven't provided key fact statement.

 

[Tejo]

That's why the issue. These bastards haven't provided key fact statement.

mail mobikwik and transactree grievance to remove late payments. & provide Key Fact Statement and loan key terms.

if no reply within 7 days, complain to RBI BO.

you can say to bo... key fact statement not provided, auto debit happening after due date.

you can request bo to remove late payments.