Is it a total truth that you are too careful with your documents? Did someone recently asked for your PAN Xerox (extra) copy without any reason and you gave it without thinking much? Do you handover your Driving license or passport copies to some agent without giving it a second thought? If yes, you need to be careful because this can land you in trouble in big way. There has been a lot of cases reported on this blog by your fellow readers which you can learn from. Let me take some of them.
How one relative misused the pan card for taking loan
A lot of people handover their documents to their relatives without thinking much. They feel they are helping the other person, but you never know how the other person can misuse your documents and get you in trouble. Read this case
One of my cousion taken a two wheeler loan in 2005, and i had given my pan card duly self attested at the time of taken loan.
Now i had applied for 2 wheeler loan in 2010, it got rejected upon applied to CIBIL report i came to know that i m the coapplicant of the two wheeler loan taken by my cousion in 2005. But unfortunetly he died in 2010 . So i had made the complete payment including all bouncing charges as well as the principal amount dues on him. But as i am the co-owner as per the bank records my name also reflect as an overdues amount (Defaulter) in your CIBIL Report which is harming my credit Worthiness in the market. I just spoke to the HDFC CUSTOMER CARE DEPT they said your loan is clear and had been reported to CIBIL upon checking again with CIBIL ,now report shows as settled . I had made full payment still its showing settle please help me out what i need to do now Please note that i do not have any direct dealing with the bank in the above said loan i just made a mistake of giving my sign in the reference column for which i have paid a price of making payment of RS 6322 to bank. (source)
How one friend used friends reference to make his co-applicant
Friends are forever, until they take advantage of your trust. A lot of people give their documents to their friends for being a reference (guarantor), but they themselves don’t understand what does guarantor mean? Read this below case to know what happened with one person
One of my friends took a car loan from a nbfc 3 years back and he wanted a reference for this loan (i now realize there is no such thing as a reference for a loan) i obliged and gave him a duplicate copy of my pan card. For atleast 2 years i have been applying for credit cards and getting rejection letters from all the banks. I finally was fed up with this and decided to get my cibil report and was shocked to see that i was the co-applicant for the car loan my friend had taken 3 years back. He had defaulted on this loan which was reflecting on my cibil report and that being the main reason for me not getting any credit card.
Like i mentioned earlier i had given my friend a copy of my pan card but i had never signed any loan application form, so i followed up with my friend (who still claims that i was supposed to a reference for this loan) and also with the customer care at the NBFC (who i must say were extremely rude). I managed to get the loan application form from the NBFC and i’m a cent percent sure that my signature has been forged on the form. Now my friend (would not want to call him a friend anymore) claims that the person who gave him this loan never told him about me being a co-applicant and he always thought i was only a reference. (source)
How an agent used documents of someone to to take advisor license
We call a lot of agents to home to buy financial products ,we give them our financial documents without realising that it can be misused if we dont want to go for the product later , we never ask it back . Read the following case based on this.
It has come to my notice that an advisor license was taken in my name in MetLife, Asansol Branch under Sales Manager by the name Mr. Debrup Banerjee. This person had approached me for a Life Insurance policy and had some papers signed by me. The Policy never materialized, but the papers (EPIC, PAN Card, Photo) was used to take out a License in my name. In fact, I was working in Bihar Sharif when the IRDA Exam was taken. A more serious and criminal act on part of Mr. Debrup Banerjee was to open an account with the Axis Bank in my name using the same papers. SMS alerts from MetLife has brought these misdeeds of Mr. Debrup Banerjee to my notice. I would request you to take necessary steps to declare the Advisor License, taken by Mr. Debrup Banerjee for MetLife, null and void. (source)
Make sure you take care about whom you are handing over your financial documents to. People can misuse it and take advantage which can get you into trouble later and you will come to know about it only when things are out of control.