(Guest)

Icici bank harassment by recovery agents

Dear Sir,

My wife took a personal loan of Rs 1,85,000 in 2007 before our marriage. After paying 5-6 emi's she could not pay any further emi's as she lost her job. After our marriage her adress shifted to mine and we didn't get any conversation from the bank. Now suddenly after 6 years we are getting warning calls. Someone from the bank is constantly calling my brother in law, father in law and my father. He is also threatning to come to their homes and work places. He threatened me to pay the loan payment or he will go to my wife's place of work and harass her.

I am not in such a sound position to pay the loan but at the same time worried about my wife and other family members. I am simply out of my wits. A friend told me not to worry as the loan is time barred and the bank cannot legally ask to repay. Maybe that is the reason the recovery agent is trying to threaten me so that I make the payment out of fear of harassment to my family. I don't know what to do? Kindly help.

Also pls clarify my doubts as to the time barred loan. I would be very thankful.

Thanks & Regards

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6 Replies

vivek malhotra (Advocate) 08 July 2013

Firstly tell for how much period your wife has taken the said loan and what was the last date of repayment of the loan

(Guest)

The loan was for a period of 4 years and the last payment was made in Nov 2007

vivek malhotra (Advocate) 08 July 2013

the loan was taken in 2007 for 4 years. That is, it is to be paid upto 2011 and limitation for the recovery of any amount is for 3 years.

In the present case the due date of repayment of loan is upto 2011 and by adding 3 years it cames 2014. The bank has every right to file the case in the court upto 2014. The case of the bank is very much in the period of limitation. Try to talk with the bank officials and told about your financial condition so that they can waive off the interest.

Sudhir Kumar, Advocate (Advocate) 11 September 2013

what is the person threatening

Akshay (LOAN & CC SPECIALIST) 13 September 2013

I am a freelancer assisting people on their credit card or personal loan issues. In case if you cannot pay your debths and wanted to get rid of it then do contact me .In case if you lost the job and cannot pay the EMI's then do not hesitate to contact me

I have resolved multiple cases since past 4 years and many have got relieved from my advice

Please send emails with complete details at banklegalexpert@gmail.com

Sankaranarayanan (Advocate) 27 February 2014

if the due is genuine then our advise is better to settle the amount. if your part is genuine then simply ignore their call , if the agent again disturb more just complaint to the nearest police station .