REMEDY AGAINST BANK RECOVERY AGENTS

Querist : Anonymous (Querist) 13 October 2010 This query is : Resolved
I would like to know, what is a instant remedy available for a common man to safe guard themselves against threatening calls, harassments from these recovery agents.Please Explain with points as this a question from common man and one of the major cause effecting our society

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Raj Kumar Makkad (Expert) 13 October 2010
Hon'ble Apex Court of India has taken such matter very seriously and has held to file FIR against such type of goons engaged by banks for illegally threatening the general loanees. You should file FIR or criminal complaints against such persons.

s.subramanian (Expert) 13 October 2010
I agree.

Chetan Pichamuthu (Expert) 14 October 2010
Banks are covered by RBI guidelines for collections and they are bound to maintain the call registery, timing(7am to 7 pm)etc...But the issue is more complex than just avoiding your payments since your name/details will be updated in CIBIL which is a negative data base; which is nowdays being reffered by even Nationalized banks while processing loans.
Hence Pls weigh the Pro & Cons before you intend to stop paying....

Parthasarathi Loganathan (Expert) 14 October 2010
Mr. Chetan is absolutely correct for the simple reason that every borrower should never invite complications emanated out of the actions of these recovery agents(who are employed only by the Private banks under statutory norms) though Courts in India never support defaulters to their loans.

Advocate. Arunagiri (Expert) 14 October 2010
Give a police complaint against the bank and other persons. Create evidences for illegal acts of the collection agents. If possible record the telephonic conversations. You will have a good case if you can provide these evidences.

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