If you’ve missed loan or credit card payments, it’s common to get recovery calls or visits. While banks have the right to recover dues, recovery agents must follow proper guidelines. Many people, however, experience agent harassment, which creates stress, fear, and confusion.
Here’s how you can handle recovery calls and visits effectively—and how Loanifyr can help.
1. Stay Calm and Don’t Panic
Recovery agents often use fear to pressure you into paying quickly. Stay calm. Don’t argue or shout. Ask them to explain who they are, which bank they represent, and what exactly they’re calling for.
2. Know What They Can’t Do
Recovery agents are not allowed to:
- Call or visit outside 7 AM to 7 PM
- Use abusive or threatening language
- Visit your office or inform your employer or neighbours
- Forcefully enter your home
If any of this happens, it’s considered bank harassment, and it’s illegal.
3. Ask for Written Details
If an agent visits your home, ask for their ID and written proof from the bank. Do not hand over cash or agree to anything without proper documentation.
4. Record and Report
Record the calls or note down the time and agent details. If they cross the line, you can report it to the bank or even the police.
5. Let Loanifyr Handle It
With Loanifyr, you don’t need to deal with recovery agents directly. We take over all communication, protect you legally, and negotiate a loan settlement or credit card debt settlement to reduce your total dues.
Facing harassment? Visit www.loanifyr.in to get professional help and protect your peace of mind.