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Tan   13 August 2017

Lender agent harrasment

I have taken a personal loan in 2011 from a private institution against my salary while i was working with a private company and i have started repaying through ecs regularly. but unfortunately the company was closed and i could not repay by ecs and asked them to stop ecs and collect by cash, initially they did not agree on that and every time i tend to pay bouncing fee for the bank and delay payment and bouncing charges for the goes like this for many months a large amount of penalty i got to pay, later in the course i lost my other job and i did not get proper job to settle this account. but i sincerely updated them the new contact number change of address loyally and repaid maximum by borrowing money for higher interest from outside to sustain my privilege till 2014-15. one day for non payment of dues a lady called from the lender side and abused me and insulted me unbearably, since then i stopped paying the dues. Now they have started coming home and started harrasing which i was told by my wife staying alone with a girl child.Now i am not in a position to repay the balance as i am not in a good position now and came out of city for a job. how can i get a solution for this. and what shall i do.  



 8 Replies

Kumar Doab (FIN)     13 August 2017

You have borrowed and have to pay.

The lender has nothing to do with personal issues of borrower.

The lender or its recovery agent can not abuse, harass.


Kumar Doab (FIN)     13 August 2017

Do you have acknowledgment of communications to stop ECS and collect cash?

Have you recorded the abuse,harassment etc etc?

Susen Nath   13 August 2017

Go for case suit againt that lender

Tan   29 August 2017

Thanks for your reply- communications to stop ECS and collect cash was given vebally only as the email registered in their system was not in use.Total i paid was 175k for a loan of 135k and now the balance they are telling to pay is 1lakh 5k. but next year end i can afford to pay a part of that. can i go for a settlement and please advice me what amount should i finalize to close this account.


Kumar Doab (FIN)     29 August 2017

Always prefer to transact in writing.

Settlement can be for any amount.

The tenure suggested by you may not be accepted.

You can try.


Kumar Doab (FIN)     29 August 2017

It is felt that you are unable to handle and settle.

Take help of elders of the family, competent and experienced well wishers, a LOCAL very able counsel specializing in such/consumer matters.... 


Nobody seems to be interested in providing the solution to the real problem of the querist about harassment by the agents of lender!


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