What can you do if recovery agents misbehave? Know what rights are given to defaulters

After being declared a defaulter, banks often take the help of agents for recovery. In such a situation, a person fears that the recovery agents may misbehave with them, which may tarnish their image in the society. If you have also taken a loan from a bank, then know once what rights a defaulter has.

If you have taken a loan from a bank, then you have to repay it. But if for some reason you are unable to pay EMI, then the bank can declare you a defaulter. According to the rules, this is done on missing 3 EMIs. The defaulter is also given many opportunities to repay the loan. Meanwhile, if things do not work out, then the bank also takes the help of recovery agents. In the case of recovery agents, the bank fears that the recovery agents may misbehave with them, which may tarnish their image in the society.

Always keep in mind that even in case of default, recovery agents cannot misbehave with you because loan default is a civil matter, not a criminal case. If you have also taken a loan, then you must know about your rights. Know your rights here-

Know what are the rules

In case of non-payment of loan, lenders can take the services of recovery agents to recover their loan. But, recovery agents cannot cross their limits. They do not have the right to threaten or misbehave with customers. Apart from this, recovery agents can go to the customer's house only between 7 am to 7 pm.

If agents misbehave, complain here

If the agent is repeatedly threatening and abusing you on the phone. Sending you obscene and vulgar messages and talks. If the bank is reaching your office, your boss or is doing anything that is mentally harassing you, then you can complain about it to the bank. If the bank does not listen to you, you can also knock the door of the court.

What are the instructions for recovery agents?

• Banks should hire recovery agents after thorough investigation and get them verified.
• Banks should provide information about the recovery agent and his agency to the customers.
• The notice and authorization letter given by the bank to the recovery agent should contain the numbers of the recovery agents and whatever conversation takes place on the call should be recorded.
• If there is any complaint from the customers regarding the recovery process, then the banks should have a platform to resolve it.
• Agents should show their ID when they meet the customers. If they do not do so, then the customers can complain about it.
• Recovery agents cannot misbehave with the customer, nor can they embarrass you in front of anyone. Threats and abuse are far away.
• Recovery agents cannot call you at odd hours. Agents can call the customer only between 7 AM and 7 PM.