- i was granted a car loan in october 2009 amounted to 1.4M , i was granted a loan because my mother authorized the bank to automatically deduct the monthly ammortization from her account with the same bank by issuing PDCs and an authorization letter. but in the chattel mortgage contract, i was the only signatory as the mortgagor. since my mother and i have arrangements on how i pay her through the proceeds of my starting business at that time.
- come 2013 august, my mother and i had a fight suddenly she informed the bank to stop debiting payments from her account. and she also submitted a deed of sale to the unit of head of the bank who was in-charge of my loan and serves as the authorized rep. of the bank in our contract. the deed was absolutely fictitious falsified in a sense that it was not my signature, i did not execute it,i did not also receive any cash payment from her. but notarized,without my i.d. or even cedula.
-in october i was able to find way to pay0ff the remaining balance of loan because i was planning to reloan it in a lending company but after i paid the balance and after i was told to wait for 5 days for the processing of the release of mortgage, when i went to the bank to claim the papers , i was directed to the office of the unit head and told me they cannot release the papers to me because even if the car was under my name and the contract, i learned that they are acknowledging the deed that in order for me to get the papers i have to file first in the court to nullify the deed. which i believe is not suppose to be their role. or i could ask an spa from my mother authorizing me to claim the papers and it should be notarized abroad where she resides.
i have submitted to the bank affidavits as they requested that would free them from obligation in case my mother would file a case against them. but until now the manager was firm that nullification is what i should do, they didnot also refund the payment i made for 14months. up to this day despite the demand letter from a lawyer i consulted still i have no feedback from them. pls advice..