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Senthil kumar (Manager r&d)     27 January 2012

Loan recovery

Hi,

 

One of my earlier organisation colleuge whih whome i worked around 8 yers back has given by cell no as references while taking personal loan from two banks, i have neither signed any doccument for his behalf nor they had called me for verifying while giving him the loan now after around four five years it seems he is not traceable so the recovery agents are troubling me to know his details i dont have any idea where he is or where he is working. what can be done for the same as i had not taken any responsiblity of him when he had taken loan.

 

Regards



Learning

 1 Replies

Kumar Doab (FIN)     27 January 2012

Record these calls. Give a terse reply to recovery agents that neither you are borrower, nor surety, nor a guarantor, nor a reference and stop the call at once.

You may also submit a written representation under proper acknowledgment, addressed to BM of these banks with a cc to Police Commissioner and SHO ( of your area) and mention list of all phone numbers with date and time and demand complete details e.g. name of recovery agency and agent, address with pin code, RBI registration number, Name of prop/MD etc of the recovery agency, email id, fax number, phone number with STD code and also the details of Local Head- collections and Recovery of the bank. You may mention that you shall be lodging a police complaint and approach your lawyer, NGO's, public and legal forums, local media etc at the cost and consequences of the BM and bank. You may mention that the practice of the bank is in violation of RBI code and guideline set for the banks. You may mention the cost of your representation and reminders and demand the same in cash/ cheque from the bank.

Ask the bank to beg apology in writing supply all details demanded by you, and commit in writing that bank shall adhere to the law of the land.

Kindly update the response of the bank.

 


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