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Sir / Madam,
I have taken personal loan from Citi Finance. And, one of my friends from ICICI.
I have not able to pay EMI in a month. And, tried to pay by 25th of that month. But, I could not be able to make the payment by the time I told the Recovery agent. And, told him that I would pay that EMI amount afterwards when I get amount. But, he said that is not possible.
My friend also had the same problem with ICICI Recovery agent. And, that agent told my friend to pay before 5th (of next month) or otherwise he has to pay 2% of the EMI amount from 5th PER DAY. He is a regular paying person for past 18 months.
How can we manage if at all if we are not able to clear the bounced EMI in the same month?
Please clarify our doubt and what happens if we are not able to pay in the said time!
Thanking you,
SRK
I have taken personal loan from Citi Finance. And, one of my friends from ICICI.
I have not able to pay EMI in a month. And, tried to pay by 25th of that month. But, I could not be able to make the payment by the time I told the Recovery agent. And, told him that I would pay that EMI amount afterwards when I get amount. But, he said that is not possible.
My friend also had the same problem with ICICI Recovery agent. And, that agent told my friend to pay before 5th (of next month) or otherwise he has to pay 2% of the EMI amount from 5th PER DAY. He is a regular paying person for past 18 months.
How can we manage if at all if we are not able to clear the bounced EMI in the same month?
Please clarify our doubt and what happens if we are not able to pay in the said time!
Thanking you,
SRK
this is really wrong on mr amit(nitin sharma)`s part .this the wrong way to tacle the loan payment
it is not the right way to handle the situation and tacle the case
Dear Citi Financial,
Sunny Sharma
R/o #589, Sector-10,
Panchkula,
Haryana.
134109
Dated: 23 Oct., 2009
Subject: Bullying behavior of Recovery Agents
My father (Mr.Dinesh Sharma) got a personal loan from Citi Financial, due to some financial problems we couldn't make few installments anyhow we have made almost 15 installments because we always kept and keep the intention to repay the amount we have taken. I would like to bring this thing in your notice that your recovery agents are literally harassing us for the last many days. My father is not here most of the times. We have told them several times that they can converse with him for the same over the phone. They have started standing outside our house for long durations. Today when an two recovery agents came to my place at around 7:00 PM then my mother did tell me about it. I went to talk to them; they were standing in front of the gate for the last half an hour. I asked them the reason for standing there for long durations then they reacted in a very threatening manner mentioning this thing this house has a loan ( please notice their way of conveying as this is a personal loan nothing to do with house moreover pinpointing their finger on house). It was as insulting in front of the neighbors as we are hardcore criminals on the contrary their appearance was not less than some criminals. Their way of talking was so threatening which induced me to warn them about police and laws. In the reply, Recovery Agent named, 'Avatar' said, '' We have been playing with police". This is their opinion about laws and police. These verbal comments are nothing other than harassment. When I told him that this is not the way to deal as it wouldn't fetch them anything until and unless they wouldn't listen to our problem in the reply recovery agent named, ‘Avatar’ said, "I will see you tomorrow". (The tone of this threat was to kill or beat someone). I don’t deny repaying however this kind of misbehavior would not be entertained at all. Now please tell me is this the way you deal now let me bring few more things in your notice which is below mentioned:
(RBI) has recently issued certain guidelines for banks. The norms are expected to bring relief to borrowers facing harassment from recovery agents
What benefits do RBI guidelines translate into for the borrowers? Informs VN Kulkarni, head, debt counselling, Abhay Debt Counselling Centre: “The borrowers can now pinpoint the duties of a recovery agent; he/she can object if the agents fail to work within the framework given to them. If the borrower is a defaulter, he has to pay the money borrowed, no doubt, but the agents too cannot take law into their own hands.”
Says Poorvi Chothani of law firm Law Quest International, “The borrowers need to know that now the bank cannot forward a case to its recovery agent if the borrower has lodged a complaint or grievance proceeding.” As per the guidelines, the recovery agent cannot step in unless such a complaint has been finally disposed of or the bank is convinced, with relevant proof, that the borrower’s claim is frivolous.
Further, if a case is referred to the recovery agency, the banks need to furnish the details of the recovery agencies to the borrower. Also, the recording process of text/calls by the banks with the borrower’s consent ensures that no harsh or threatening calls are made by the recovery agents to the borrowers.
The guidelines empower the borrower to raise his/her voice if the recovery agents cross the line. One needn’t put up with recovery agents using abusive language, making calls at residence at odd hours, creating a scene before neighbors and so on
This is really a case of harassment and threatening and our whole family is very much frustrated about this. These guys are mentally harassing us which is actually leading us to depression. We are already going through lot of problems but still we have intention to pay back but we would not take this harassment at all. If the repetition would be there for the same then we would be induced to take some legal actions against it. Kindly try and understand the situation. Whatever is happening is not at all fair. So kindly do the needful.
Thanks & Regards,
Sunny Sharma
+91 [protected]
E-mail id: [protected]@gmail.com
Sunny Sharma
R/o #589, Sector-10,
Panchkula,
Haryana.
134109
Dated: 23 Oct., 2009
Subject: Bullying behavior of Recovery Agents
My father (Mr.Dinesh Sharma) got a personal loan from Citi Financial, due to some financial problems we couldn't make few installments anyhow we have made almost 15 installments because we always kept and keep the intention to repay the amount we have taken. I would like to bring this thing in your notice that your recovery agents are literally harassing us for the last many days. My father is not here most of the times. We have told them several times that they can converse with him for the same over the phone. They have started standing outside our house for long durations. Today when an two recovery agents came to my place at around 7:00 PM then my mother did tell me about it. I went to talk to them; they were standing in front of the gate for the last half an hour. I asked them the reason for standing there for long durations then they reacted in a very threatening manner mentioning this thing this house has a loan ( please notice their way of conveying as this is a personal loan nothing to do with house moreover pinpointing their finger on house). It was as insulting in front of the neighbors as we are hardcore criminals on the contrary their appearance was not less than some criminals. Their way of talking was so threatening which induced me to warn them about police and laws. In the reply, Recovery Agent named, 'Avatar' said, '' We have been playing with police". This is their opinion about laws and police. These verbal comments are nothing other than harassment. When I told him that this is not the way to deal as it wouldn't fetch them anything until and unless they wouldn't listen to our problem in the reply recovery agent named, ‘Avatar’ said, "I will see you tomorrow". (The tone of this threat was to kill or beat someone). I don’t deny repaying however this kind of misbehavior would not be entertained at all. Now please tell me is this the way you deal now let me bring few more things in your notice which is below mentioned:
(RBI) has recently issued certain guidelines for banks. The norms are expected to bring relief to borrowers facing harassment from recovery agents
What benefits do RBI guidelines translate into for the borrowers? Informs VN Kulkarni, head, debt counselling, Abhay Debt Counselling Centre: “The borrowers can now pinpoint the duties of a recovery agent; he/she can object if the agents fail to work within the framework given to them. If the borrower is a defaulter, he has to pay the money borrowed, no doubt, but the agents too cannot take law into their own hands.”
Says Poorvi Chothani of law firm Law Quest International, “The borrowers need to know that now the bank cannot forward a case to its recovery agent if the borrower has lodged a complaint or grievance proceeding.” As per the guidelines, the recovery agent cannot step in unless such a complaint has been finally disposed of or the bank is convinced, with relevant proof, that the borrower’s claim is frivolous.
Further, if a case is referred to the recovery agency, the banks need to furnish the details of the recovery agencies to the borrower. Also, the recording process of text/calls by the banks with the borrower’s consent ensures that no harsh or threatening calls are made by the recovery agents to the borrowers.
The guidelines empower the borrower to raise his/her voice if the recovery agents cross the line. One needn’t put up with recovery agents using abusive language, making calls at residence at odd hours, creating a scene before neighbors and so on
This is really a case of harassment and threatening and our whole family is very much frustrated about this. These guys are mentally harassing us which is actually leading us to depression. We are already going through lot of problems but still we have intention to pay back but we would not take this harassment at all. If the repetition would be there for the same then we would be induced to take some legal actions against it. Kindly try and understand the situation. Whatever is happening is not at all fair. So kindly do the needful.
Thanks & Regards,
Sunny Sharma
+91 [protected]
E-mail id: [protected]@gmail.com
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I have taken a personal loan from citi financial .I am about five years old customer and many time PL sanctioned on top up bases . I have some financial problem in these days . I will pay my loan in next some months . But Mr Amit from chandigarh sector - 35 B branch threatening me at my home . His senior name is Mr Nitin Sharma . This is against the orders of Hunable Supreme court of india regarding recovry process . You are requested to stop this GUNDA method of recovery .Thank you .
TARANJOT SINGH
Citi financial loan account number 13506531