Alliance Debt Management and legal services and Honorable Supreme court guidelines on collection process?

Question

Hi, I had an unpaid loan since 2006 and due to multiple slowdowns in my life I was not able to pay the loan amount completely. ADM collection agency located in Laxmi Nagar N.D have suddenly started contacting me for the last 1 month and have been in toch with me and I have been speaking to them that I am willing to pay and settle but need some time and will settle.  - All 3 of them have been talking to me and now Yogesh have started using all wrong and non compliant tactics - He has called my relatives and have called up my work place and disclosed that sukhinder singh has a unpaid due to  and when my colleague asked what is the matter he has clearly stated that this is a LITIGATION matter and ask him to call them - which I did, On the same call and one more call he has been asking for my seniors numbers and also my HR number - He was not aware that all no.s are on recording lines and all his 3 calls have been recorded and I have those recordings in which he has disclosed to a third person (colleague) that he is from and is calling due to non payments and it is litigation matter (as per RBI - Banks and collectors are not authorised to call colleagues or at work place and disclose details) - He was also asking for my HR details - due to this I am already defamed in my company and will surely be more than just defamation (This is a pure embaraasement, harrasement and CRIMICAL activity) - Besides I teeling Praveen from  videocon towers that what Yoges has done and played with my social and employment status - Yogesh again called my work place (RECORDED) - I will be taking them to court of LAW and I want to know how much admisible this is in the court of LAW? Please guide ASAP as these guys are abusing my relatives and defaming me all over and are playing with my relations and employement status - Please - Thanks

 

Answer 1

Mr Sukhinder,

As regards follow up of the representatives of the ADM collection agency, I would like to inform you that recovery agents are not supposed to resort to harassment in public, abusive language, uncivilised and unlawful behaviour. I reproduce extract of RBI guidelines in verbatim in respect of engagement of the recovery agencies by the Bank.

 Agents should adhere to extant instructions on Fair Practices Code for lending (Circular DBOD. Leg. No. BC.104 /09.07.007 /2002-03 dated 5th May 2003) as also their own code for collection of dues. If the banks do not have their own code they should, at the minimum, adopt the Indian Banks Association's code for collection of dues and repossession of security. It is essential that the Recovery Agents refrain from action that could damage the integrity and reputation of the bank and that they observe strict customer confidentiality.

The bank and their agents should not resort to intimidation or harassment of any kind either verbal or physical against any person in their debt collection efforts, including acts intended to humiliate publicly or intrude the privacy of the debtors’ family members, referees and friends, making threatening and anonymous calls or making false and misleading representations.

You may lodge a complain with RBI for violation of their guidelines in recovering outstanding dues. The contact details of the official would be available on the RBI website. Please submit the call recording in support of your complain. You may also approach Banking Ombudsman for resolution of issue. 

These guidelines does not absolve from making repayment of the loan availed by you from the Bank.

Regards

Deepak