I had taken a loan from IDFC In 2014. It was a consumer durable loan.
Sir it's been a 4 days I am getting threatening calls from a recovery agent of the bank somewhere from Mumbai...
I accepted my mistake of non payment of loan and assured her that I ll repay in 1 and 2 days . I even called a recovery agent to my home for a settlement of loan ... But since it was Saturday and the office was closed he was not able to provide a recipt for the I refused to pay and sainld that I ll o my pay when I will get the statement in written.
After that the agent again called and threatened me continuously for wasting her time .
I am a 9 month pregnant woman not in a good condition .. I requested hr to plz calm down but she contiously threatened me which resulted into high BP and medication..I will settle the loans in a day or two... For sure but how can I avoid these type of calls... And such threatening recovery agent.
Please do not pay recovery agents in cash and please avoid calling them home for your own safety. In any case you seem to need help in understanding how to handle your finances and your personal safety far better. First, we are surprised that you forgot that you have a loan to repay. That is strange, but worse, it has now made you a defaulter on the record of CIBIL and other credit bureaus. To rebuild your credit will take a long time and a lot of effort. Please understand this has serious consequences for your financial life, especially when you do not seem to have real financial difficulties and are able to pay.

Secondly, why call a person on a Saturday? Make the effort to call IDFC, from where you have taken the loan. Once you repay it with interest — PLEASE DO NOT FORGET TO TAKE A NO DUES CERTIFICATE — having this is important. It will immediately give a boost to your credit score.

IDFC is a major bank - you need to go to the branch and repay the loan. They may even send someone home to collect it — make sure you have someone responsible with you. And make sure you take acknowledgements and the no-dues certificate.
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Sucheta Dalal Trustee - Moneylife Foundation

Suresh Prabhu Mr Prabhu retired as Senior Vice President from HDFC Bank

R Bhuvaneswari After serving Bank of Baroda for almost 40 years, Ms Bhuvaneshwari retired as Chief Manager in 2013.

Yogesh Sapkale Yogesh Sapkale is Deputy Editor of Moneylife and writes on finance, credit related issues

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