Rudolf Rodrigues, Mangalore/Mumbai

We have to see it in the maze of examples the bigwigs, industrialists, entrepreneurs, jetsetters, etc. et. setting!!! Take a simple example of a hifi guy owning multi million dollar mansions, pvt. jets, yachts and leading a posh life defaulting to the tune of 6000 crores in his failed airline business venture and still roaming freely like a King!! In this context, if anybody smart and aware but not 'ethical', thinks he should do it on a small scale when there is opportunity (of unsecured loan) where comes the issue if you see the larger screen?????? This example demonstrates that the 'sacrificial lambs' are the middle class citizens and not the big fishes who cheat and siphon of 10s of thousands of crores of rupees!!

By the above opinion, me being a middle class citizen, WILL NEVER ENDORSE SUCH CHEATING ACTIVITIES!!!

DisAgree [1] Agree Reply Report Abuse

JNB, Mangalore

Many private banks and private telcom companies in India hiring "Recovery Agents'
Jobs for jobless.

DisAgree [1] Agree [7] Reply Report Abuse

Langoolacharya., Belman/Washington,DC.

People,

I have a suggestion here to Police...take both bikes and riders to Nehru Maidan...let there be wrestling match between two...whoever wins will take both bikes...Shreeman Jossey could be referee...if he is free...

...JH...

DisAgree [10] Agree [19] Reply Report Abuse

Albert, Mangalore

Let him bring his Guru...Mr.Pappu too!!

DisAgree [3] Agree [3] Reply Report Abuse

makeMyDay, makeMyDay

No wonder why banks all over Ullal refuse to give loan these COW boys.

obviously they take it from Finance guys and when time comes for repayment these guys flip

DisAgree [1] Agree [15] Reply Report Abuse

Rudolf, Mumbai/Mangalore

One should see in Mumbai trains and outside local railway stations the amount of advts. through stickers and personal solicitation for security less loans shows the desperation of these greedy institutions of making easy and fast money!!

If these greedy financiers give finance to Tom, Dick, and Harry entities without checking their credit worthiness/scores and without any collateral/security whatsoever defaults are 100% going to happen!! There is no dearth of people who would not like to misuse such easy availability of loans!!!

The loan givers are equally guilty of doling out loans so easily to TDH entities!!!

DisAgree Agree [11] Reply Report Abuse

D.P.Shetty, Bahrain

Why the person go for loan buy a costly bike,give a cash & carry hero bicycle,only public will not notice you like riding a bike.

DisAgree [7] Agree [18] Reply Report Abuse

Amin Bhoja, Patte / Riyadh

Loan be dheo maar be kavo... !!!

DisAgree [3] Agree [18] Reply Report Abuse

Rudolf, Mumbai

It should be understood that a person who avails easy 'unsecured' loan is going to default most of the times, then why in the first place are these financial institutions lending loans for whatever reason without collateral or other security????? What is the need to be so generous and benevolent while giving loans???

DisAgree [2] Agree [10] Reply Report Abuse

Amin Bhoja, Patte / Riyadh

Rudolf
Mumbai
Money, it is a kind of help to improve your needs!!! but first put yourself in front i.e you can or you cannot!!!

DisAgree [3] Agree [3] Reply Report Abuse

stan, dubai

You are in India..... Just see daily we are reading the stories about Middle east expatriates. If one default their salary accounts are frozen, their travelling from Middle east is banned, their passports are black listed. i.e. read

google - loan-default-is-a-one-way-ticket-to-ruin-for-expatriates

how to support these people?????

DisAgree [2] Agree [3] Reply Report Abuse

Rudolf Rodrigues, Mangalore/Mumbai

Dear Stan, talk about our country and do not compare with some other TDH countries, be specific!!

DisAgree [1] Agree [2] Report Abuse

stan, dubai

When our farmers take loan and stuck than they will commit suicide but 2 wheeler wants to drive without money. some stupids supports these people??

DisAgree [3] Agree [9] Reply Report Abuse

Stephen D'Souza, Mangaluru

Nobody knows how many installments are pending. But some treat him as if he is a beggar and a person who can't afford. One calls the supporting commentators as stupid. sad .. one should understand the pain of others. will you keep quiet if somebody insults u in public?

DisAgree [2] Agree [6] Reply Report Abuse

Rudolf, Mumbai

What the recovery agents have done here is nothing but a sort of subtle 'dacoity', which should not be tolerated by anyone!!

All these lately opened pvt. banks are nothing but 'white collar thugs' operating in sheep's clothing!! Otherwise how most of them could be closely nearing the largest public sector bank SBI in such a short span of their opening, it cannot be the efficiency factor alone but cheating through various dubious schemes while getting customers by giving them half baked information of their products and then fleecing them!! Some banks are so shameless that I have seen their agents soliciting customers on railway bridges and in prominent spots with their various looting schemes!!

They employ recovery agents, definitely with criminal minds or antisocial background as is evident from their behavior both on phone and in person!!! Their charges and rates of interests are nothing less than the meter charges of 'loan sharks', first unwarranted fines and then charging heavy interest over interest!! They seem to have no fear of the law of the land, wherein the apex court has given clear guidelines while recovering goods and money!!

NEVER EVER GO FOR A CREDIT CARD OR PERSONAL LOAN FROM THESE LOAN SHARKS OR, IN CASE OF DEFAULT, THEY WILL DRIVE YOU TO SUICIDE!!

DisAgree [4] Agree [18] Reply Report Abuse

Shankar, Mangalore

Rudolf,
You could have made your comments short. " Just do not go for loans if you can't afford to pay"

DisAgree [13] Agree [12] Reply Report Abuse

Rudolf Rodrigues, Mumbai

It is pure logic that one who asks and is offered an 'unsecured' loan without any 'collateral', he will in most cases 'default', first understand that, then why are these people 'benevolent' financial institutions offering loans sans security or collateral in the first place, it is logical that it is to fleece the customer with high interest rates and then on default 'loan shark' interest rates to earn a quick buck???

DisAgree [3] Agree [12] Reply Report Abuse

Rudolf, Mumbai

LOL!! You seem to be definitely in this line of business, which grossly violates the apex court guidelines on loan recovery!!!

DisAgree [3] Agree [11] Reply Report Abuse

Shankar, Mangalore

Absolutely no Sir.
But I am a person who believe that one should not live on other's money.

DisAgree [12] Agree [8] Report Abuse

Vashal, Mangalore

The Dadagiri of Finance co is not tallarated.Of course they should be pasted.They should have approached in a legal way and take the enticer into their custody.

DisAgree [1] Agree [18] Reply Report Abuse

Asha, Mangaluru

To some well read readers and disagreerersasha
NEW DELHI: The Supreme Court has warned financial institutions and banks against forcible taking away of vehicles under hire-purchase agreement when there is a default in payment of loans and said they could be saddled with punitive costs if they did so.

"Even in case of mortgaged goods subject to hire-purchase agreements, the recovery process has to be in accordance with law and the recovery process referred to in the agreements also contemplates such recovery to be effected in due process of law and not by use of force," said a bench of Justices Altamas Kabir, Cyriac Joseph and S S Nijjar.

DisAgree [3] Agree [36] Reply Report Abuse

Shankar, Mangalore

" Dear Sir,
Since you have not paid the installments consecutively for the last 6 months and since you were not responding to our calls or letters, we request you to visit the nearest branch personally and hand over the two wheeler on which you have taken loan.
Please hand over the keys to the recovery section Manager."
Dear Asha, do you believe a letter in above format will convince the defaulter in the reported incidence to surrender the vehicle?

DisAgree [17] Agree [18] Reply Report Abuse

Asha, Mangaluru

Dear Shanker,
With due respects, to Supreme court order , which if violated amounts to contempt of court i beg to defer with you , with your vague argument quoting an outdated draft of a recovery letter.
If all recoveries as per you have to be made by force the the police and the judicial system become a laughing stock and you a recovery hero...LET THEM KNOCK AT THE DOORS OF THE COURT THATS THE LAW.OR
ELSE THEY SHOULD BE BOOKED UNDER GOONDA ACT FOR TAKING SUPARI FOR RECOVERY WHICH IS ILLEGAL.

DisAgree [4] Agree [17] Reply Report Abuse

Rudolf Rodrigues, Mumbai

In the first place why are these so called finance cos./banks lending loans without 'collateral security' on high interest rates?? Is it not to make a quick buck by attracting more and more customers by charging them meter interest?? It is logically understood that when somebody is asking for a loan 'without security' he/she will, most times, not be able to keep the commitment and default!!!

DisAgree [1] Agree [18] Reply Report Abuse

Shankar, Mangalore

if you don't expect these kind of recoveries, go to nationalized banks for vehicle loans.

DisAgree [15] Agree [10] Report Abuse

Rocky D'Souza, Belman

No matter what the finance company should not block anybody on road at night. every person faces problems in life. sometimes even rich people cannot pay 3 installments. dreaming to own a bike is not offence. we do not know how much that person was insulted. law is there for recovery. even reserve bank has guidelines for recovery. it is not about working in gulf or india. but the problem of a person failing to pay and facing the rowdyism on road

DisAgree [4] Agree [15] Reply Report Abuse

ashok, Bengaluru

Knowing well the policy of the the banks and other lending organizations why go to them, and later blame them if you cant repay

DisAgree [10] Agree [13] Reply Report Abuse

Jossey Saldanha, Mumbai

In spite of no money in pocket - Dadagiri ...

DisAgree [12] Agree [29] Reply Report Abuse

R.Bhandarkar, Mangaluru

Everything is available in installments these days...including
Husband and Wife....
Is it not?

DisAgree [15] Agree [19] Reply Report Abuse

R.Bhandarkar, Mangaluru

To make it more clear:
There are many who think 'Husband' and 'Wife' are commodities that can be purchased in the market nowadays..

DisAgree [6] Agree [11] Reply Report Abuse

Dodanna, mangalore

For non payment there is a law.So third person as no right attack or force.Such activity's to be counted under good act. Govt must put curb on such finance company.Else it is one type of encourage to good giri.
Respective minister's n MP to disuse this matter in thei respective assembly section
But non elected member of South Kanara is always supporting to criminals n goonda giri.
Hope next election Mangalore as will kick him out from power.
Jai Hind!

DisAgree [3] Agree [11] Reply Report Abuse

Bryan, Bahrain

Why try and own something when you cannot pay the EMI...

DisAgree [8] Agree [50] Reply Report Abuse

Santosh Devadiga, Mangalore

because all people dont work in gulf. situation here is tough. finance companies dont have right to behave like that. dont blame the person who dint pay. he may be having problem

DisAgree [59] Agree [15] Reply Report Abuse

Ramesh S, mangalore

Santhosh..Banks, finance companies run from public deposits..if a borrower fails to repay loan, then how a Bank can refund public deposit? you may be the depositor, can you wait until Bike borrower pays!!..In INDIA public transport is there for every corner of the city..can use bus or at least can purchase a second hand vehicle..Normally Banks seize Vehicle if a borrower fails 3 installment and if he didnt response to notices..

DisAgree [11] Agree [23] Reply Report Abuse

Bryan, Bahrain

My Santosh, You are trying to say that if you work for somebody, what you work for free or you would like to be paid. In the same way when you buy something, you don't think you have to pay for the item.
There’s no such thing as free my friend...

DisAgree [3] Agree [28] Reply Report Abuse

Neil, Doha

Dear santhosh,
I agree with you that the person might be having problems to pay his dues. Also I agree that this should not be the way of recovery of the installments.
Do you think the people working in gulf doesn't have problems?
If the person can't afford to pay the installments why he should go for that costly bike?

DisAgree [8] Agree [23] Reply Report Abuse

Shankar, Mangalore

Elders say" Haasige iddashtu kaalu chaachu"

DisAgree [7] Agree [26] Reply Report Abuse

vk, Mangalore

You are right Santosh. If he is not able to pay the EMI and take the extreme steps like the farmers, who will take responsibility. Also If he pay the EMI, how will pay for is beer, cigarates and petrol charges? Government must immediately wave all such loans and people should be able to roam around freely. If he takes the extreme steps of suicide, then who will take care of his 5-6 children and may be future production. It will be a big loss to Karnataka and ultimately to India. I am totally against for paying EMI and urge all financial institutions to give loans and should not collect them. This is the only way to get rid of poority in Karnataka and specially in Ullala, Thokkottu area.

DisAgree [4] Agree [11] Reply Report Abuse

Asha, Mangluru

No one has the right to forcefully demand any payment , outstanding or installments due.
The courts will direct the police in such cases "
All companies employing such persons which amounts to 'SUPARI 'for recovery should be booked under GOONDA Act .
Banks,Non Banking finance companies,all car scooter dealers, money lenders...etc etc

DisAgree [26] Agree [43] Reply Report Abuse

Shankar, Mangalore

Enticer can be returned to the finance company. Pulsar can be retained for day today use.

DisAgree [9] Agree [20] Reply Report Abuse