What are my rights if I can't repay loan?
If I am unable to repay a loan on time, what are my legal rights and responsibilities? Also, is it legal for recovery agents to threaten or harass me?"
1 Answer
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Advocate By LEAD INDIA
Answered: 07 May 2025
If you’re unable to repay your loan, the bank or lender can take legal steps, but they cannot harass or threaten you. You have the right to be treated respectfully. You can request more time or settle the loan. If pressure continues, file a complaint with the police or RBI’s grievance cell. For further legal assistance contact us on our helpline number.
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