24/04/2023
LOAN HARASSMENT / BLACKMAILING PROBLEMS -
*Following actions by recovery agents will be considered harassment:*
📌 Hacking your phone data and blackmailing you.
📌 Contacting your friends and relatives about your debt without your knowledge or acceptance.
📌 Calling you repeatedly and putting mental pressure to pay the loan EMI.
📌 Threatening you or your family or relatives.
📌 Trying to humiliate you by visiting your place of business or home without notice.
📌 Insulting you in public or by circulating WhatsApp messages that you are in debt and unable to pay.
*What are the RBI guidelines for loan recovery agents?*
📌 The RBI has issued some rules for debt collectors (third-party recovery agents) that protect consumers from abuse and mental harassment.
These rules include:
📌 The loan recovery agent(s) cannot visit your home without an appointment.
📌 The loan recovery agent(s) cannot call you at work or visit your office without notice.
📌 The loan recovery agent(s) cannot insult or intimidate you in any manner.
📌 The loan recovery agent(s) can't use abusive language while interacting with you.
📌 The loan recovery agent(s) need to carry the bank’s identification and authorization letter.
📌 The loan recovery agent(s) cannot contact you before 7 am and after 7 pm.
*What are the legal remedies available?*
📌 Filing a complaint at the police station.
📌 Filing an injunction suit for relief against the bank and compensation for abuse.
📌 Filing a defamation suit against the bank and recovery agent.
📌 Trespassing suit if collection agents enter your home or office without consent.
📌 Complaint to your bank’s ombudsman.
📌 Complaint to RBI if your grievances are not resolved by the bank’s ombudsman.
*How OZG Lawyers can protect you from harassment?*
We can help you in case you are facing any such harassment. The quick response team at Ozg Lawyers will take action based on your situation and the level of harassment face by you.
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