Money & banking

Loan or EMI trouble — recovery calls, bank notices, settlement

Borrowers have rights even when they have fallen behind. We'll sort out what stage you are at and what records protect you.

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What the law says

RBI rules govern recovery conduct and digital lending. Secured-loan enforcement follows the SARFAESI Act, with appeals to the Debts Recovery Tribunal.

General information, not legal advice.

Papers that usually help

Loan agreement, sanction letter and key fact statement (KFS)
Shows what you actually agreed to.
Loan account statement (statement of account)
Shows EMIs paid, charges and the outstanding.
Your bank statement showing EMI debits and bounces
Checks the lender's figures.
Call log, recordings and messages from recovery agents
Abusive conduct breaches RBI rules.
Messages your family/friends received from the lender
Contacting your contacts to shame you is a serious breach.
The notice received, with envelope
Each notice has its own reply/objection period.
Possession notice, panchnama or vehicle repossession papers and inventory
Possession must follow procedure; vehicle seizure needs notice and an inventory.
Settlement offer or sanction letter on the lender's letterhead
Verbal settlements are a common trap.
Closure proof and your written request for NOC and original documents
RBI rules require original property documents to be returned within 30 days of closure, with compensation for delay.
Your complaint to the lender's grievance officer and reply
Usually required before an RBI Ombudsman complaint.
App name, download link, screenshots of loan terms, and permissions it took
Needed for police and RBI complaints.
Proof of hardship (termination letter, medical bills, business accounts)
Supports a restructuring or settlement request.
Insurance policy linked to the loan
May pay EMIs in some situations.

Questions Saboot will ask you

What kind of loan is it?
Who lent the money?
What is happening now?
How far behind are the EMIs?
Which notice did you receive?
Have there been threats, abuse or calls at odd hours?
Is the app's lender registered with RBI?
Have you complained in writing to the lender's grievance officer?

Sources

Common situations

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