Good day! The Background: I worked with a private IT MNC for several years until some months ago, when I had to quit the company due to certain pressure in the IT industry. I had taken a Personal Loan from a private bank some months before I had to quit my job. I'm currently jobless, and I haven't been able to pay my dues for past 3 months. I'm neither in a position to repay it until I find my next job. Note that I have no intention to default on the loan. In the meanwhile, the bank has setup some collection agency to track me. While they haven't been able to find out my whereabouts or contact details, they've somehow gotten my wife's contact number. Note that she's currently staying in her mother's house, and not with me, due to my current situation. A few days ago, they've contacted her and started threatening her of dire consequences. Their main threat is that they'll visit her mother's house and create quite a ruckus in front of all the neighbors (if you know what I mean). Certain Facts about the loan: • The personal loan agreement is solely between me and the bank only. • Nothing related to my wife's financial records or history (PAN number / signed cheque / salary slip / etc) was provided for this personal loan. At the max, I might have mentioned her contact number, I don't remember exactly. • The address given for the loan is my address only, and nowhere I've mentioned their address. These guys don't have their address currently, but I fear they might find it out through some shady means. • Again, while I have no intention to default the loan completely, if they cross lines of decency, I'm ready to take them to task in court, since I'm no longer earning. The Million Dollar Question I'm Seeking Clarity With: How do I possibly and effectively deter them from visiting my mother-in-law's place and creating a ruckus in front of the neighbors. Do they have legal right to do so? I want to ensure anything possible to deter them from doing this. Note that neither my wife nor her parents are in any position to confront the bank / collection agents via some legal route - I'd warn these agents if it is doable. On the other hand, if this threat is totally unpreventable, I'd rather squeeze every nickel to pay off the dues to shut the bank's mouth until I land my next job. Thank you!!
Your wife should file police complaint of criminal intimidation under section 506 of IPC
2) record their threats . It would help her in making out a case
3) if police refuse to lodge FIR file private complaint before magistrate under section 156(3) of cr pc
It is totally illegal. And a criminal offence.
Tell your family members to dial 100 and complain to police immediately.
Or file private complaint before magistrate under section 156 crpc.
1. The loan once taken can not avoid while repaying. No financial problem of a borrower is a ground to avoid repayment.
2. Now the creditor while demanding repayment of loan can not take any extra judicial measures and if they do then you can lodge complaint with police depending upon the gravity of offence.
3. You can file civil suit for injunction as well.
Are they doing the same in India.
if yes, then as per the Indian laws they can not use illegal means to recover money.
you can engage a lawyer and send a notice to them and also send a copy of the same to the police.
Regards
See in case they try to create such issues or are troubling your wife she can file a police complaint for the same against bank and collection agency as bank cannot use such means to harass the customers.
Further there is no other way see it will be better to close the loan otherwise bank shall.levy interest penalty.
Or atleast you get loan regularised and restructure same..
1. Your wife can lodge FIR against those recovery agents and bank for threatening her of dire consequences and creating ruckus in neighbourhood and harassment without any due towards her.
2. Bank employees or recovery agent have no right to call your wife or visit her mother's place for recovery of loan from you.
3. Bank can only contact your wife to know about your whereabouts and nothing more.
The Supreme Courts and other High Courts always saying that recovery by muscle man is illegal. Get issue a legal notice to the banker as per following citation. Please come to my office.
ICCI Bank Limited vs. Prakash Kaur case,
The Supreme Court in a landmark judgement reiterated its earlier stand that banks cannot deploy musclemen for recovery of loans from defaulters thus forcing them to end their lives.
1) You or your wife have to send legal notice for mental harrasement and torturing, plus your wife and in-laws can file defamation case against that agency.
2) When you and your wife are living separately than they don't have right to ask money from your wife. Here your wife can say she is claiming maintenance charges from you.
If you want I can draft a legal notice for you. And you can send it to them or ask your wife to send them by email.
A criminal complaint must be filed by your wife against the bank for criminal intimidation and threats. She should also allege harassment. If the police refuse to lodge an fir against them then file a complaint before a magistrate.
The act of approaching your wife and putting pressure on your wife or issuing threats or indulging in activities to defame their name and reputation in the society or creating nuisance at her home are all considered as illegal acts and on the basis of a criminal complaint with the local police station, the so called agents can be prosecuted and punished as per law.
It's your wife who has to initiate appropriate legal action against the arrogant agents, either through police or by issuing a legal notice instructing them to refrain from indulging in such illegal activities.
You should not get involved since they have not approached you nor you have let them know your whereabouts. Consult an advocate in the local and take steps to curb the menace.
On three consecutive default, account becomes NPA, No interest charge and hard recovery is barred by law. recovery agents only can request.
You can file FIR for creating nuisance and threat. On you are only responsible for repayment. And cannot call or ask from relatives. They can FIR of criminal intimidation.
1. As p[er Supreme Court's judgment, banks can not attempt to recover the loan amount by creating pressure which is not acceptable by law. Bank shall have to recover the dues with due process of law and not by creating nuisance with the help of recovery agents recruited by them.
2. The above is applicable for the Borrower i.e. you. The question of harassing your wife who is in no way connected with your said taking of loan, can never be approached by the Bank seeking repayment leave apart creating nuisance.
3. Ask your wife qand her father who is owner of his house to lodge a police complaint well in advance alleging that the said people are threatening them to cause public nuisance to ensure that they put pressure on you to repay the dues when you have become unemployed. Mark a copy of the letter to the local D.C. of Police seeking his intervention.
4. If the said recovery agents still harass your wife, ask her to take video recording of their illegal acts and then further report to police against their personal names asking the police to register FIR against them.
5. If police refuses to act, ask your wife to get in touch of a local Advocate and file an application u/s156(3) before the local Court praying for a direction upon the police to register FIR, investigate and act as per law based on your wife's said complaint.
5.
You can file police complaint or complaint in court under 156(3) crpc
