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Shrinivas Bhalerao

Stealth • 8m

How do Instan loan provider company/app recover their losses they have got from loan defaulters, and how they recover the money form the person who don't pay back the loan.(Does someone have suggestion to how to recover the loan)

7 replies10 likes

Replies (7)

Trilok SHARMA

Stealth • 14d

Sir, I have come to know today that many people are defaulters but they are not defaulters of their own free will. If you find out or find out about their problem then they all want to take loan but the recovery agency is giving them so much trouble that they do not give the loan as per penalty. Or charges are levied or the instant loan agency gives them the loan of their choice or the tenure of their choice and no one can take it from the customer. How should they pay if the loan is flexible and recovery should also be flexible?

0 replies1 like

Rajan Paswan

Stealth • 8m

Most such loan providers have agent who goes to people houses and demand money to return. When doing this again and again. Most people out of fear, frustration and public humiliation try to pay as much as possible. There might be other ways but ik of this.

2 replies2 likes

Anonymous 1

Stealth • 8m

Actually they don’t have much they can do. Their hands are tied. Brands like simpl and slice, they can’t legally do anything. To recover it, all they can do is like call the person or at Max go to their home. Nothing after that. They have high rates of defaults which they mark as “Loss”

0 replies1 like

Jaswanth Jegan

Stealth • 8m

I’m curious to know about this too

0 replies1 like

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