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.

 

[Sahilhenzy]

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.

Yes, I think BO will definitely going to help me because it's not mine it's their fault.

 

[Card_Crafter]

What's the update on this? @Sahilhenzy

 

[Sahilhenzy]

What's the update on this? @Sahilhenzy

Update : Lender has accepted their fault and removed the late payments from the credit bureaus and reversed theate charges as well..

 

[Card_Crafter]

Update : Lender has accepted their fault and removed the late payments from the credit bureaus and reversed theate charges as well..

What about CIBIL report? Is it restored to the previous score?

 

[Anupama_Jha]

Update : Lender has accepted their fault and removed the late payments from the credit bureaus and reversed theate charges as well..

U have 3 loans. If not hesitate, then can you pls share amounts and ROI respectively.

 

[Sahilhenzy]

What about CIBIL report? Is it restored to the previous score?

Definitely not. Score went to 750+ but yea I faced loss

 

[Sahilhenzy]

U have 3 loans. If not hesitate, then can you pls share amounts and ROI respectively.

I can't share the exact amount but it's above 1L and ROI of all loans are 2.5% PM which is equal to 30% per annum. Definitely it's a expensive loan....