NEWS & ADVICE : CAR LOANS
Manage your loans, avoid recovery agents
By Vaibhav Aggarwal
Print    Email    RSS   

All of us are very well aware of the pesky calls that one receives from banks and telecom services, providing us with information about products which we never want to buy. If that is irritating, then how irritating would a call from a recovery agent be? Gone is the “Yes, sir” or “Sorry, Madam” to be replaced by threats and in extreme cases, even abuses. Those who have been on the receiving end of such calls, say that it definitely is the most harrowing experience of their lives.

These recovery agents have neither a fixed time to call, nor any training in decency. Their only motive is to get the unpaid amount out of people. For that, they can give you a call at even 2 in the morning, or even turn up at your house. Says BPO employee Sinith Mechery, 25, "It was the worst experience of my life.”

Mechery adds that, “Due to some unavoidable circumstances I defaulted on a few loan repayments." What followed was that a recovery agent began calling him and rudely demanded that he make an immediate payment. Mechery just hung up on him. "But he called at least 35-40 times that day and his language was abusive. I'd never had an issue with my banks prior to this, but this incident has definitely left a bad taste in my mouth," he says.

Mechery was lucky in a way. Prakash Sarvankar is a name, many people might forget. However, what he did will not be forgotten soon. In a case that had shocked the nation, Sarvankar, 38, who was an ICICI Bank customer and had taken a Rs 50,000 personal loan, committed suicide last year, holding a recovery agent responsible for his death in his suicide note. This case sent shock waves in the banks and the nation, prompting courts and police to stand up and take serious notice of the problems being caused by recovery agents.


Page  | 1234 |  
(Comments Posted : 5) Post Your Comments
1. WELCOME TO THE GREAT TEMPLE OF ILLUMINATI. Are you a business man, politician, musical, student and you want to be rich, powerful and be famous in life. You achieve your dreams by being a member of the illuminati With this all your dream and heart desire can be fully accomplish, if u really want to be a member of the great illuminati then you contact Mark Johnson through his email address below illuminatimembership66@gmail.com or call his cell phone:+2347054263874.
Full name....................................
Country....................................... State of
origin............................ Date of
birth...............................
Sex..............................................
Address.....................................
Phone.................... -
Mark Johnson (Posted: Jun 1, 2016)
2. Greetings to you all! My name is Mr Abdul Majeed, a private and reputable loan lender. I render all kind of loan to individuals with an interest rate of 3% with a repayment length of 1 to 30 years maximum. A lot of people have benefited from my loan offer and it have change their lifestyle positively giving them the opportunity to create their own business.
I render loan such business loan, agricultural loan, education loan, house loan, automobile loan, etc. If you are in need of a loan, kindly fill the borrower form below with your valid details and reply back for more information at abdulmajeedloancompany@gmail.com

Full Name:
Country:
State:
Sex:
Age:
Home Address:
Amount Needed:
Currency Needed:
Loan Duration:
Monthly income:
Phone: Number:
Occupation:
Purpose for Loan:
Website you saw our ads:

Note: All reply should be forwarded only to abdulmajeedloancompany@gmail.com for immediate attention.
Do you need an urgent loan? (Posted: Dec 4, 2015)
3. Welcome Thomas loan company, we offer the following loans to individuals, private / public company Commercial Loans (Secure and unsecured) loans the Small Business Administration (SBA), (Secure and Unsecured) Personal Loans (Secure and unsecured) loans Residential (Secure and unsecured ) Mortgage Loans (Secure and unsecured) and many other interest rate of 2%; apply for a minimum of 100.00 100,000,000.00 rubles, dollars, pounds, euros, etc. Interested candidates should please contact us today for your online quick and easy loan without collateral deposits. E-mail: thomascreditfirm@gmail.com

Sincerely,
Thomas B. Dawson
Thomas Dawson (Posted: Jun 29, 2015)
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
TIPS FOR ASPIRING CAR BUYERS AND OWNERS
Insider secrets of Car Loans in India
Carnival of Indian Personal Finance Blogs #4
Credit profile and its effect on loan...
A chronicle of excesses by loan recovery...


Lonavala Caℓℓ Girℓs 9765946980 / 9970712349...
how to got car loan statement from hdfc bank
i want to check my sbi car loan balance

NEWS THIS WEEK
SBH bank extended its Car and gold loan campaign till 31st March, 2015. Feb 11, 2015
KVGB bank signed MOU with TATA Motors Feb 10, 2015
SBH bank extended its scheme offering concession to loan defaulters Feb 2, 2015
Karnataka Bank tied up with TVS motors to Assist Auto rickshaw buyers Jan 27, 2015
RBI extended the Directions issued to Amanath Co-operative Bank for a period of six months Jan 22, 2015
News Archive