Bajaj Finance — Harrasment over phone for collection of Dues

Address:	Thane, Maharashtra, 400615
Website:	www.bajajfinserv.in

Hi,

Date of Incident - 01/09/2016 - 02/09/2016
Client Number[protected]

Am a consumer who had opted for Bajaj Finance Loan, who was serving the EMI Schedule on time. However in my professional life, I started with my own venture which is over 7 months now. Being a new venture like everybody I was also experiencing downfall due to which I was unable to make last 2 EMIs. I am trying to buy some time to clear but people from Bajaj are "Threating saying we would visit your friends or relatives place and create issue, once we create issue then by default I will arrange for funds". It is humiliating and experience is weird. I understand that I am liable to pay the amount and I will pay, but buying time for same has been difficult and their calls and way of communication makes me feel that am a criminal.

I do not have any personal issues with Bajaj Finance, they have helped me when I was in need, but the employees "especially collection Team is creating nuisance about the brand.

I had to refer to google to understand what are my rights of Defaulters

Table1. The following is a table showing key timelines of the loan default and recovery procedure:

Situation

Time Allotted
Total notice period banks legally need to provide before initiation of recovery procedures - 60 days
Number of days before an overdue loan account is classified as NPA (non-performing asset) - 90 days
Number of days by which the bank is required to respond to defaulter’s objections regarding repossession notice - 7 days

Am sure this will help somehow and somebody may be benefited out of this Harassment.

Sameer