Are you currently facing problems with arrears from online loans? If so, of course you are getting familiar with phone calls or visits from debt collectors or the loan collector of the lending company.
Many people are scared when they are often contacted by debt collectors. Not only the borrower, sometimes the debt collector also contacts a family member or directly goes to the borrower’s home in trouble. Disruption of comfort due to debt arrears is a consequence of your inability to repay a loan. However, consumers also have the right to get protection from outside treatment by debt collectors. The following ethical guidelines that must be obeyed by debt collectors when conducting billing.
Official Identity of the Lending Company
Debt collectors always carry an official identity card issued by the owner of the lending company. If the debt collector who collects does not have an official identity, immediately contact the company where you took the loan.
Use of threats / violence / humiliation is prohibited
Debt collectors are prohibited from using threats, violence and / or actions that are embarrassing to customers who have bad repayments. If a debt collector who calls or meets you issues threats, violence or embarrassment, remain calm and remind the debt collector not to violate billing ethics in accordance with Best Bank regulations. Record the identity of the debt collector along with the day and hour of the event as supporting information when you report the case to the loan provider.
Using Physical or Verbal Violence is prohibited. Billing is prohibited using physical or verbal coercion. If this happens, report it immediately.
No Collections from Unpaid Debt Parties
Debt collectors are prohibited from billing other than those who owe. Debt collectors are not permitted to collect debts from other parties such as close relatives or other people whose data are listed in the administrative provisions that you attach when taking out debt. You can cast a protest if the debt collector is also chasing your family related to the debt problem.
It is strictly forbidden to terrorize
Billing using communication facilities is prohibited from being carried out continuously which is annoying. If the debt collector collects by phone, it should be done at certain times and not throughout the day. If you feel disturbed by the relentless calls from debt collectors, immediately notify the company that provided the loan.