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Recovery agent is harassing me daily on calls and at home.


16-Jun-2023 (In Banking / Finance Law)
I have defaulted my personal loan and credit card for past 3 months. I am unable to manage to pay the EMI with my current salary and household expenses. I recently paid a smaller amount of EMI to all loan and cards and can manage to pay like that if the bank cooperates. But the collection agent are asking for full payment of outstanding which I cannot pay currently. They are calling again and again, shouting at my house, Following me, calling my landlord. What do I do ?
Answers (1)

Answer #1
770 votes
hi

in this case you have to send legal notice to the bank regarding harassment by their staff and agent

it is prohibited by law that bank or finance company cannot use force to recovery dues.

therefore we need to make them aware of it and demand for rescheduling of dues for repayment
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