In my suggestion there should be no recovery agents as if the customer is not ready to pay the due on time then a legal action should be taken against him. he should be punished as per law. By this way other people who are related to the accused will not be harrased...
RE:Recovery agents
by Anup Saxena on Apr 25, 2008 05:39 PM Permalink
Law! ha ha Lol. It takes minimum 10 years for a court case to get settled (not to mention subsequent appeals in higher courts). Per Supreme court sown admission there are 4-5 crore cases pending before all courts. If law could deliver justice and in a reasonable time (3-6 months), banks wouldn;t need recovery agents in the first place.
A more likely result of this is more and more people getting emboldened to take loan with no intention of ever returning it. And if banks started going bankrupt due to non-recovery, People who deposit money with banks may have to rethink - imagine you make a FD with bank and when you go to draw money upon expiry, bank says sorry sir ... we loaned your money to people who refue to pay up. please come after 15 yrs when we may have retrieved money from defaulters.
PS: i have nothing to do with any bank in erms of employment direct or indirect.
RE:Recovery agents
by Nitin Dutt on Apr 25, 2008 06:10 PM Permalink
Right, Imagine that we go to bank to withdraw money and they say that our money has been gobbled up by defaulters and we have sued them so why don't you sue us and we will both win together. also why don't you & defaulter settle outside amicably and we will write off accounts of both of you. So bank will make some profit while you will get your money from teh defaulter (BTW defaulter is a henchman of a poilitician and u will get your money if you survive the gunfire)
RE:Recovery agents
by Ajith on Apr 27, 2008 12:20 PM Permalink
who asked to do this business by banks, collecting FD's and lending them to defaulters. And how can they take law into their hands by supporting these recovery agents actions. If that is the only solution to recover means then there should not be an unsecured loan business practice at all in this country.
RE:Recovery agents
by atul sharma on Apr 25, 2008 07:05 PM Permalink
very well said buddy .... people who are againts the recovery measures don't think in this way that it is their own money which is falling in bad hands ...It is indirectly you yourself who are giving your money to a person who is not paying back .....i am also against of any brutaility with the customer wheather be it physically or mentally but one should understand that you cannot recover any thing from any one with folded hands
RE:Recovery agents
by SRG on Apr 26, 2008 10:00 AM Permalink
You are absolutely right!You cannot recovery anything from any one with folded hands! My one year old daughter does not give up anything willingly unless I snatch it from her!
