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Can bank recovery agent come home to ask for pending money is it legal
27-Jul-2023 (In Banking / Finance Law)
I wanted to know that if there is credit card amount pending with bank, can bank representative visit home and ask for the amount. Are they authorized?
can recovery agent visit my house on sunday?
If there is a default in the payment of credit card amount after the expiry of the due date, the bank would usally charge a rate of interest as agreed in the terms and condition. The bank cannot visit the house for asking the payment using unlawful means or musclemen. They can recover the money either from your bank account if its from the same bank or file a suit for recovery. They cannot adopt coercive means.
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218+
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Adv. Shekhar Raj Sharma
Delhi | 100+ Answers
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Can recovery agent harass you?
It is not considered harassment if the recovery agent sends updates or demands in advance, calls at home or starts court proceedings at a reasonable hour or initiates a court case. These are the measures that the creditor can take to recover debts from the borrower.
What are the rules for recovery agents?
The agent must bring the notice from the bank and the letter of authorisation with them when they visit the defaulter. If a borrower files a complaint, the bank cannot refer the case to a collection agency until that complaint is resolved or dismissed. 16-Jun-2023
What to do if recovery agent comes to your house?
You can lodge a formal complaint with the police against the bank, or third-party agent. ...
Injunctive action against recovery agents -
Filing a defamation suit- ...
Trespassing- ...
Extortion grievance- ...
Bank complaint
Can debt collectors come to your house in India?
You can be visited by a debt collector if you owe money. They usually contact you by phone or email first. A debt collector does not have the right to remove goods and you do not need them to come in. Learn more about the differences between bailiffs and debt collectors.
wanted to know that if there is credit card amount pending with bank, can bank representative visit home and ask for the amount. Are they authorized?
Response
Yes they can and they can send you notices. If you are having any trouble regarding the same you can tell me I can help you with the same.
Response
Yes they can and they can send you notices. If you are having any trouble regarding the same you can tell me I can help you with the same.
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Adv. Rishabh Jain
Delhi | 100+ Answers
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Hello client.
I have read ur question in which u want that ur bank is sending executive comes to ur home.after reaching ur home he is asking money which is pending on you.so they are asking you the pending balance.that is a crime and bank can not ask money in any manner like this.
I have read ur question in which u want that ur bank is sending executive comes to ur home.after reaching ur home he is asking money which is pending on you.so they are asking you the pending balance.that is a crime and bank can not ask money in any manner like this.
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Adv. Vishwanath Pratap Singh
Delhi | 500+ Answers
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VIPIN KUMAR
My loan is written off, and I paid whole amount. Bank intensionally fined penalty on me. Now sending agents everyday to my house.
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