If you’ve missed a few EMIs or credit card payments, you might start receiving calls from bank recovery agents. While banks have the right to recover dues, they must follow strict rules. Sadly, many people experience agent harassment in the form of threats, abuse, and repeated calls. If this is happening to you, know that you are not alone — and you have rights.
Here’s what you should do if you’re facing bank harassment:
1. Know Your Legal Rights
The Reserve Bank of India (RBI) has clear guidelines that protect borrowers. Recovery agents:
- Can only contact you between 7 AM and 7 PM
- Must not use abusive or threatening language
- Cannot contact your friends, family, or workplace to shame you
- Must carry ID and disclose which bank they represent
If they break these rules, it’s illegal, and you can take action.
2. Stop Direct Contact with Agents
You should not engage with aggressive agents. Instead, get expert help. Loanifyr takes over all communication with the bank and recovery agents so that you don’t have to face any more stress or pressure.
3. File a Complaint
If harassment continues, you can file a written complaint with the bank or even the police. Keep records of calls, messages, or visits as proof.
4. Explore Loan Settlement
If you’re unable to repay your loan in full, loan settlement or credit card debt settlement could be a better option. Loanifyr can negotiate with the bank to reduce your total dues and legally close your loan.
You don’t have to suffer silently. With the right support, you can end the harassment and move toward financial peace.
Visit www.loanifyr.in to get expert help today.