Because of these annoying goondas called recovery agents, my father commited suicide. He had taken loans from many banks & presently not in condition to repay it. Though, he promised to pay the debt in near future, these recovery agents kept threatening him & even they ask money for their chai-paani.
RE:Harassing Goondas
by on Apr 26, 2008 05:24 AM
Hi Ashutosh, My sympathies are with you and your family.
I have also faced harassment through Recovery Agents when I was unemployed for a brief period of 6 months after my MBA.
But I studied the loopholes of system and gave befitting reply to these Credit Card Companies. I have not paid 7.5 lacs outstanding aginst my various cards and still these guys can not CHASE me.
Be wise and use loopholes of CC Application Process.
RE:Harassing Goondas
by chris P Harrison on Apr 29, 2008 10:26 AM
Hi Ashutosh, Can you please let me know the loop holese you used to beat the credit card companies. Regards Haja
it is not only recovery aspect but every aspect of bank employees who sit in responsible positions act like goondas and make other people like us to feel exploited
RE:bank officials act like goondas
by yashovathi yashovathi on Apr 27, 2008 08:46 PM
I guess you work in a bank, so have sympathies for them too...BUt there is another side to the problem...My mom signed up for a credit card feeling sympathy for a girl who was selling these at a table counter in a bank in out home town. She never used it, but bills began to arrive, and phone calls too...they said it was the processing fee now, although the offer had been for a free card...after some talk with the bank, they agreed on her paying 800 Rs and tearing up the card in proof of having finished with it...she gacve them a cheque and the card in four pieces...NOw th calls have started again saying she owes them 8000 Rs, and threatens her too...she is 70 and lives alone with father who is 76...Can you tell me what to do? Where is the loan taken here? They are teachers who live on their pension and have never taken a loan from a bank in their life...
Put these buggers through 100 continuous hours of phone torture, the same way they do to hapless customers... If they live to see the next day, then let them live to be recovery agents!!!
The idea is good; This may prevent recovery agents from harassing common people who are generally honest and have suffered temporary set backs especially in case of home loan borrowers. Because no one wants to lose their homes.
But sensitizing recovery agents only will not serve any purpose. RBI should issue strict guidelines regarding loan dispensation, issue of credit cards etc. The fault lies with the bank if they give a cash withdrawal limit of Rs 50,000 to a person who is earning Rs 10 000 per month and does not know that cash withdrawal carried interest rate of 2-3% per month. In such case it is the bank which should be penalized;
One can observe that it is the private banks who are guilty of harrassment by recovery agents; Most of the nationalized banks stricter guidelines for issue of credit cards;
RBI should appoint auditors for examining credit card customer details in all the banks;
