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Rajat Mehra (Lead B.A.)     04 August 2012

Collection practices for consumer loans

Hi

A friend of mine had been tricked into taking a loan by one of her friends who ultimately used up all the money and went abroad. My friend was unaware that the loan had not been paid back. Now she is getting calls from the bank's recovery agent asking for the loan amount. These agents are also calling up the people whom she talks frequently to. They are using threatening and abusive language. I want to know that is it legally permissible for the bank's agents to call up other people? Also, are they allowed to disclose about the debt to someone not authroised by the borrower? If no, then how can she ensure that this does not happens? She has full intentions to pay the loan but she is unable to do so as currently she is jobless and she belongs to a financially-impoverished family.



Learning

 1 Replies

Adv Rohit Dalmia 9324538481 (Lawyer)     04 August 2012

Dear Rajat,

 

it is advisable not to take loan for anybody in your own name as you don't know whether the other person will repay the loan or not.

Now, your friend ned to repay the loan and if the collection agents are threating or using abusive language then she needs to file a police complaint against the said collection agent for mental harrassment and thret to life.

 

You may also end the legal notice through the advocate to the company for using such pressure tactics for recovery of the loan.

 

Incase you need ny legal assistance you may call on 09324538481.

 

Regards,

Advocate Rohit Dalmia

Mumbai 


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