Are you dealing with harassment from your lender?
Utilise our anti-harassment services to have our legal team deal with harassment from your debt collectors. The RBI has issued several guidelines to prevent harassment of people at the hands of recovery agents. These agents must not intimidate or harass borrowers during debt collection. However, harassment by recovery agents is quite common in India, in spite of several Supreme Court judgments and RBI guidelines. If you want to stop getting harassing calls from these agents, then MyLoanSettlement is here to help.
Are you receiving debt collection calls?
If you are receiving debt collection calls, you can ask for the reason for these calls, and request further details to validate the reasons. Before you pass on any personal information, you must know and understand what to do when a debt collector calls. If you want us to handle the matter, feel free to contact us.
What is harassment in debt collection?
If your lender hires a debt collection agency to recover their money, they may take the following actions against you:
- Contact your family and friends without your knowledge.
- Call and pressurise you repeatedly for loan repayments.
- Visit your home or workplace without notice.
- Threaten you or your family members or relatives.
- Insult you in public by implying you’re a defaulter.
What are the RBI guidelines for debt collection and recovery agents?
The RBI has established some rules for debt collectors that are supposed to protect consumers from abuse. These include:
- Debt collectors cannot visit your home without appointment.
- Debt collectors cannot call you at work or visit your office without notice.
- They cannot insult or intimidate you in any manner.
- They can’t use abusive language while interacting with you.
- They need to carry bank’s identification and authorization letter.
- They cannot contact you before 7 am and after 7pm.
What is anti-harassment? Is there legal course of action against debt collection harassment?
Anti-harassment service comes in if you engage us to deal with your debt collectors and their non-stop harassment attempts. Our legal team intervenes and puts a total stop to their illegal attempts to recover money from you. We can help by:
- Filing a police complaint
- Filing an injunction lawsuit for relief against the lender and compensation for abuse
- Filing a defamation lawsuit against the lender and debt collection recovery agent
- Filing a Trespassing lawsuit if debt collection agents enter your home or workplace without permission
- Complaint to your lender’s ombudsman
- Complaint to RBI if your grievances are not resolved by lender’s ombudsman