How can you stand up to a creditor? The most effective method is to hire experienced creditors and debt collector harassment Advocates to show you mean business. At Lion Law, we have the skills and resources to protect consumers and put creditors in their place.
Once confronted with the fact that an advocate representing the debtor, most creditors will immediately stop the harassing calls to avoid further risking violations of the Reserve Bank of India (RBI) and the Banking Code and Standards Board of India (BCSBI) guidelines. One of the first actions we will take on your behalf is to send a letter to the creditors notifying them of our Advocate-client relationship.
Many of our clients attempted to stop harassing creditors by themselves and were unsuccessful until they contacted our Advocates for help. Unfortunately, when a consumer tries to stop a harassing creditor without the assistance of an Advocate, they may face several setbacks.
Some creditors will not be intimidated by consumers proceeding without an Advocate and may suspect that these individuals have little to no understanding of their legal rights. Furthermore, several steps must be taken to stop a harassing creditor, and, without the guidance of an experienced Lion Law Advocate, debtors can miss vital steps in this process.
Attempting to stop harassing creditors on your own can prove to be a difficult task, especially for those whose lives have already been disrupted by the harassment. When you hire a Lion Law Advocate, the debt collector must contact your legal representation — not you — regarding your debt, which may provide some relief from the harassment.
Sending a letter demanding communication with the debtor stop
Requesting that all telephone calls and correspondences are directed to Lion Law Advocates.
Requesting validation and calculations of the debt (undertake a financial audit).
Analyzing all the signed loan documents to substantiate that RBI guidelines have been followed.
Sending a letter to contest the debt.
If the creditor harassment continues, we can pursue a lawsuit to collect and ask for compensation within the Pecuniary Jurisdiction of the Banking Ombudsman to stop the harassment.
Many of our clients attempted to stop harassing creditors by themselves and were unsuccessful until they contacted our Advocates for help. Unfortunately, when a consumer tries to stop a harassing creditor without the assistance of an Advocate, they may face several setbacks.While there is no precise definition for specific “harassing conduct,” there is a non-exhaustive list of examples, as per RBI and BCSBI governing debt harassment.
Common examples include numerous factors:-
Daily phone calls to alleged debtors, their family, and friends.
Multiple calls on back-to-back days.
Repeated calls with no messages.
Hang-ups; using social media networks such as Facebook.
Lies or misleading comments.
Speaking in a belittling manner and embarrassing, argumentative, and rude conduct.
Statutory Damages : Within the Pecuniary Jurisdiction of the Banking Ombudsman, creditors who violate the guideline’s provisions will be liable to the harassed consumer for up to ₹1,00,000 in damages. The amount awarded will hinge on the frequency, duration, and veracity of the harassment.
Actual Damages : Additional damage compensation may include out-of-pocket costs or compensation for emotional distress and damage such as stress- related injuries, which may include:
Loss of appetite
Pain and suffering