Loan recovery agent
Anand Jha
(Querist) 25 March 2017
This query is : Resolved
In 2006 my friend took an education loan of Rs.27000/- repayable in 24 installments.
Education Loan generally repayable after getting Job but his loan EMI start immediately from next month. Actually Bank Agent told him lie that it is education loan actually that was personal loan. Anyway he started paying EMI. He paid all 24EMI.
After 4 Years he received calls from recovery agent that your loan is unpaid so visit to branch. He again called after 2years and warned him and tried to harassed him lot, but he ignored.
Now again they start calling, they are calling to my boss and warned him that they call director of company also.
At present he has not any document of loan, and the Bank account also closed after paying 24 EMI but not have statement. He told to recovery agent for submitting on email calculation how the amount remained unpaid but he has been told to visit branch. He is doing job in interior and due to busy schedule he is unable to visit.
Can Any one suggest what should he do?
Guest
(Expert) 26 March 2017
Enter into written communication with bank. Demand documents.
You can make complaint to higher authorities but it will be fruitful only if documents will support you.
Guest
(Expert) 26 March 2017
The Loan is Time barred and now they can not make any claims.Recovery agents are just commission agents who serve for it.ask your friend to be Cool and Ignore them and not to give any commitment letter or cheque to them.better he could change his mobile number to avoid harassment over phone
