Nbfc collection agents harrasment

Ramesh (Querist) 01 July 2022 This query is : Resolved
Dear sir,

My friend took a vehicle (car) loan from an NBFC in November 2017. Very unfortunate thing is I was the guarantor for that loan. Everything went good up to June 2018.In June 2018 the vehicle met with an accident and has to be kept In the service centre for a span of 6months due to clearance from insurance agency. So he was unable to pay the dues regularly from that time. In October 2018 one of the Mahindra finance executive visited my house and enquired about the borrower’s details then I realized that the loan was pending from 5months. So I clearly explained him that I will show the residence of the Borrower and location of the vehicle and asked him to repossess the vehicle and proceed for further as he was unable to repay the dues. But he denies repossessing the vehicle as it is in the service centre and there is no approval from the company to repossess.
After that The agent regularly visiting my house and calling for the amount due to them. I clearly explained them that I am just a guarantor for that loan you can contact the borrower and co-applicant as well. But he simply denied that as they are not responding his calls you are the complete responsible for the loan as a guarantor. Literally he tortured me by calling and visiting my home. The borrower is not in touch with me. With no option to avoid the calls I paid the due amount for one month on 31st October 2018 (Later I realized that was the biggest mistake I did). From the next month onwards they started calling me for the due amounts without approaching either the borrower or the co-obligant and they did not leave me until the payment of due. That was continued up to April 2022.Due to some health issues I was unable to repay the last four installments (paid 39 installments until then).
Then again the executive started calling this time. He literally tortured me with his calls. Everyday I woke-up with his call and daily 20/30 calls from him and he started threatening me that he will come to my home and office. He called to my employer and made a false allegation that I am running away from paying loan amount. He came to my office and threatened me that he will not leave that place until I pay the due or surrender the vehicle (though the vehicle is not with me).
My doubt is that the NBFC’s deteriorate to this level to collect their dues. Literally they appoint rowdies for collecting their money. Even directly I was not responsible for that loan I took the responsibility, is it necessary for me to face the problems.
So please help me regarding this issue what action can i take against them. iam feeling guilty in my office and not able to face my employer.

Thanks in advance

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Quick Summary

A guarantor is facing severe harassment from an NBFC's collection agents regarding a vehicle loan taken by a friend. Despite explaining the situation, including the vehicle being in a service centre after an accident, the agents have persistently contacted and threatened the guarantor, even contacting their employer. The guarantor seeks advice on what actions can be taken against the NBFC for their aggressive collection tactics.

Dr J C Vashista (Expert) 02 July 2022
Get the outstanding cleared by borrower or you may pay and recover.

P. Venu (Expert) 02 July 2022
As the guarantor, you are liable to pay. However, the lender cannot unilaterally enforce the payment. They need follow the due process.

kavksatyanarayana (Expert) 02 July 2022
I agree with the advice of the above leanred experts.

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