Hello,
my father had taken a personal loan back in 2006 about 4lakhs from a bank and had been repaying a loan amount upto 1.5lakh principal till 2009 and had financial difficulty.one can sy he is insolvent, we explained the condition to the bank and they sent recovery agents to recover the due amount and some even went to the lengths of harassing us verbally on phone and directly as cheaters and etc.
Since the bank agents were continuously harassing us even after we explained that we cannot pay as my father did not have a job and what my mother earned was enough for paying for rent and household expense,i was a student then. So we left the house as they were not listening to reason and demanded payments. We were not cheaters as we did not default till 2009.
Now in 2015 they found us and are harassing us again, The bank where we took loan is not there anymore (ABNamro). Is the bank which does not exist capble of recovering loan? when asked for their bank id they gave some baseless excuses, when we tried to take their photogrphs or record the convverstion on cell phone they thretened and after sometime they left never to return. a friend told me that they are fraudulent agents who get the details from bank track us and ask for payments which goes to their pockets not to the bank.
Again now there are people claiming from some government organisations.
How long can a bank can reclaim personal loans?
We advised them to proceed legally as we do not have any assets, they sy come to bank and explain, Where is the bank? it closed off.
What can we do to stop this? We told them to proceed legally they dont listen. We have a few other loans as well but they do not do anything when we told them proceed legally. We dont want anymore trouble from them. Please advise
