GE Countrywide loan

Sir,

This is to inform you that I had taken a loan of Rs 25,000/- from GE Countrywide during February, 2005 and since then I have been paying EMI of Rs 1178/- regularly and it will continue till February, 2008. Last Month i.e July, 2006 a representative of GE Countrywide called and asked me if there is any requirement of loan that I flatly refused. Then he informed me that if I pay my loan till February, 2008, I will be at loss and if I change the loan plan I will save few thousands by issuing 12 cheques of Rs 1808/-.

As per my calculations, 18 EMIs are left for Rs 1178/- amount which equals Rs 21,204/-. If I pay Rs 1808/- for 12 months, I will be payinh Rs 21,696/-.

Please explain how will this help me. I'll end up paying Rs 492/- more.

Also a process fee of Rs 600/- was charged for this arrangement.

I want to cancel this arrangement right away as this is resulting in a loss for me.

I visited Pitampura branch today and spoke to 5 different associates including Parvez. I am thoroughly disgusted by GE Countrywide's business ethics and would be taking my case to the Consumer Court if my problem is not resolved within five business days. I want a written letter out lining course of action from GE.

( Copy to

GG.E Countrywide Consumer Financial Services Ltd.

401, 402, 4th Floor,

Aggarwal Millennium Tower,

E-1,2,3 Netaji Subash Place,

Pitampura, Delhi- 110034 )

Yours Truly

INDIRA HAKSAR

Personal loan no# RPDL00001397

Customer ID : 5080350620

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