It’s difficult to fall behind on loan payments, but it’s made worse by recovery agents harassing you. Although pressure visits, threats, and daily calls are frequent, they are also prohibited if done improperly.
Here’s what to do to protect yourself and take charge if you’re being harassed by an agent or a bank.
- Recognize Your Legal Rights
RBI regulations state that recovery agents are not allowed to:
- Come see you at strange times.
- insult or threaten you
- Speak with your family, friends, or employer.
- Apply pressure or physical force.
All of these behaviors are illegal. You have every right to complain to the bank or even the police.
- Avoid Dealing with Agents by Yourself
Never attempt to manage recovery agents by yourself. They’re taught to put pressure on you. Use a legal support group like Loanifyr instead, as they will deal with the bank directly and put an end to the harassment in a way that is compliant with the law. - Keep a record of everything
Note every call, message, and visit. Obtain recordings or pictures if you can. If the situation worsens, these could be used as proof. - Examine a Lawful Loan Settlement
You might qualify for loan or credit card debt settlement if you are truly unable to pay back all of your obligations. This enables you to legally pay off your loan and make a smaller payment.
Loanifyr manages all aspects of the settlement process, including paperwork and negotiations, while ensuring that you are not harassed further.
Let Loanifyr Help You Take the Right Step
You don’t need to live in fear of bank calls or agent visits. Get legal protection and clear your loan the smart way.
Visit www.loanifyr.in and let our team stop the harassment and help you move toward a fresh start.