UBL Autoloan Fraud

[jawad332]

Dear members.
I want ur help urgently. I got corola GLI from UBL bank Two years ago.unfortunatley i missed one installment.They repocssed my car. i contacted them and their officials told me to submit next three installements in advance. i am ready to pay advance installements but yesterday they told me that we have sold ur car. even yar i am ready to pay all the remaining loan amount. what to do know if they have sold the car.Till that time i have paid more than 5 lac.

[hassam]

Was his written in the agreement that Bank has the rights to sell the car if you dont pay the installments of a certain month or months? You remember anything?

Call their customer service number and ask generally if you lease a car and does not pay for a month, then what will happen. Just check

[Cylestyne]

I've never heard of UBL reposessing any car for a loan default of 1 month. Typically takes 3-5 defaults and even they don't sell off the car without warning.

[lotus]

This post was flagged by the community and is temporarily hidden.

[aly]

yeah.. something fishy here... no bank repossess cars for a loan default of 1 month... selling it is way ahead..

[jawad332]

my one installement was missing and second one was due on 7th april.i was having time till 30th april.but they repocessed on 17th april.i contacted their officials they told me to submit two late installemnts and three advance installents.i was ready to pay but was trying to have some negotation.but yesterday they told me they have sold the car.how they can do this without informaing me.

In Lahore things are getting strange, people are saying that bank staff has links with market, if they can sell it on better price they are sharing the profit under hand. Till now my payyment is 44 days past due.

[autophile]

I think since you were buying the time to make the payment, bank staff thought you were not in the mood to pay anymore. Due to strict policy and because of lot of deafault cases many banks have even stopped leasing, and those facing losses have also become suddenly active.

I remember UBL got a stamp paper signed by me and it reads that I have sold my car to______________ and they can fill any name there anytime they like.

Now the banks are not tolerating any delays. Simple. You are lucky that they did not slap any "repossession" charges on you. One of my friends had to pay 20,000 repossession charges on top of two late and three advance payments. I had been warning him to pay, but despite having money he was in habit of delaying things. Now he doesn't do that.

[jawad332]

I inform the bank second day and launch an application, but strange thing is that every time I met with differant person, the strange thing is that they told me to come after two days, again two days till inform me that car is sold. Is their any way to ask the bank for all this? Is it fair to do this with customer. No one is ready to listen.

[jawad332]

dear autophile now what to do.Help me, Ask for legal action, go to media like Geo, Apeal in newspaper to UBL, Prime Minister, or Launch a story on UTube and advertise in newspaper.

[autophile]

^^ Dear there is no use of hue and cry here. If you wanna try your luck here, that might work. First you will have to write to bank and wait for a specific period, if their answer is not satisfactory or they do not reply, you can file a complaint with bankingmohtasib. The procedure is on their website below.

http://www.bankingmohtasib.gov.pk/

[hawke100]

File the case to banking mohtesib and cc it to head of consumer in UBL. There is something really fishy over here. Don't let go your hard earned money like this.

[ronz2202]

yeah i dont think they have the right to sell the car of just because 1 installment is missing......take the case to the top management of UBL use your source and make sure you hold the person accountable who gave you this statement that your car is sold....probably he's trying to get profit himself who told you that

[iiqbal]

@jawad332
How they repocssed your Car ??? From your home ???
2nd i totally agree with Cylestyne , Bank have policy of 3 month

[c123pk]

File a Case asap, dont delay.

[iiqbal]

@jawad332
Time for some action in UBL office,Bro. go their with your some friend , Don't do any action , Just some drama and try to find root cause , why this happened

[jawad332]

They took from road while i was driving.

[jawad332]

does anyone know the person in UBL management who can help me.

[iiqbal]

@Jawad332

No one will help you , Please do some thing yourself

[iiqbal]

@Jawad332
Have Chitchat with cusion , have soem knowledge of bank dealing , as he is Charterd accoutant , According to him it is not possible , some thing fishy fashy

[Nasir_Zaidi]

They can't pick and sale your car in this way.

I am 100% sure about it as in the recent past, the State Bank of Pakistan had asked all the commercial banks and other financial institutions to give appropriate time to customers in case they have a difficulty in paying their installments. And be it credit card, personal loan or car financing, this implies to all of them.

I wish you all the best.