Credit Card Harrassment
2 months ago
Can a recovery agent harrass for credit card payment after 20 years?
A.NO, Any bank cannot recover any bank loans after 20 years, as it is hit by law of limitation. In such case you can approach a good lawyer and you can also file a case on bank.
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A.Dear Client,
If a borrower consistently defaults on credit card or loan repayments despite repeated warnings from the lender, each default is considered a fresh cause of action, collectively forming a continued cause of action. In such a scenario, filing a complaint against recovery agents at the local Police Station and notifying the concerned bank is an option. Additionally, a complaint against loan recovery agents can be submitted online to the RBI at https://cms.rbi.org.in or through the helpline number 14440. The complaint can be filed online or submitted offline to the Centralised Receipt and Processing Centre (CRPC) at RBI, 4th Floor, Sector 17, Chandigarh, PIN-160017. A recent judgment by the Patna High Court emphasized the need for district Superintendents of Police to prevent recovery agents from taking the law into their own hands without a court order. Seeking guidance from a certified credit counselor through a quick counseling session can also help explore options for amicable resolution or settlement.
If a borrower consistently defaults on credit card or loan repayments despite repeated warnings from the lender, each default is considered a fresh cause of action, collectively forming a continued cause of action. In such a scenario, filing a complaint against recovery agents at the local Police Station and notifying the concerned bank is an option. Additionally, a complaint against loan recovery agents can be submitted online to the RBI at https://cms.rbi.org.in or through the helpline number 14440. The complaint can be filed online or submitted offline to the Centralised Receipt and Processing Centre (CRPC) at RBI, 4th Floor, Sector 17, Chandigarh, PIN-160017. A recent judgment by the Patna High Court emphasized the need for district Superintendents of Police to prevent recovery agents from taking the law into their own hands without a court order. Seeking guidance from a certified credit counselor through a quick counseling session can also help explore options for amicable resolution or settlement.
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A.Dear Client,
If a default in repayment of credit card dues or dues against any loan continues despite repeated intimations of the lender, the series of defaults on the part of the borrower paves the way for the lender to take action for recovery of that debt or dues treating each and every default as a fresh cause of action and collectively it turns into continued cause of action. In the given situation, filing a complaint against the recovery agents in the local Police Station and endorsing a copy of said complaint to the concerned Bank, a complaint against the loan recovery agents appointed by the Bank can be made online to RBI at https://cms. rbi.org.in or by calling the helpline number 14440. The complaint may be lodged online or by filing an offline complaint and submitting the same at the Centralised Receipt and Processing Centre (CRPC) at RBI, 4th Floor, Sector 17, Chandigarh, PIN-160017. In a recent judgment, the Hon'ble Patna High Court in the case of Dhananjay Seth v. Union of India, 2023 SCC OnLine Pat 1393, decided on 19-5-2023 directed the Superintendent of Police of all the districts in the State of Bihar, to ensure that within their jurisdiction no recovery agent of the Bank and Financial Institution might take the law into their hands without an order of the competent court of law. Further, a quick counseling session with a certified credit counselor can help you discover your options and choose the right path to resolve or settle the matter amicably.
If a default in repayment of credit card dues or dues against any loan continues despite repeated intimations of the lender, the series of defaults on the part of the borrower paves the way for the lender to take action for recovery of that debt or dues treating each and every default as a fresh cause of action and collectively it turns into continued cause of action. In the given situation, filing a complaint against the recovery agents in the local Police Station and endorsing a copy of said complaint to the concerned Bank, a complaint against the loan recovery agents appointed by the Bank can be made online to RBI at https://cms. rbi.org.in or by calling the helpline number 14440. The complaint may be lodged online or by filing an offline complaint and submitting the same at the Centralised Receipt and Processing Centre (CRPC) at RBI, 4th Floor, Sector 17, Chandigarh, PIN-160017. In a recent judgment, the Hon'ble Patna High Court in the case of Dhananjay Seth v. Union of India, 2023 SCC OnLine Pat 1393, decided on 19-5-2023 directed the Superintendent of Police of all the districts in the State of Bihar, to ensure that within their jurisdiction no recovery agent of the Bank and Financial Institution might take the law into their hands without an order of the competent court of law. Further, a quick counseling session with a certified credit counselor can help you discover your options and choose the right path to resolve or settle the matter amicably.
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