2 Answers
Lender company can not harass by sending agents. However, you cannot deny your liability in repayment of laona amount with interest. Your inability to repay is not a valid ground. You can approach bank or NBFC for revision or OTS but it is mercy of bank or NBFC only to agree or refuse for the same. Bank/NBFC can proceed under SARFAESI Act for recovery, attachment, or arrest etc.
Dear Sir, as per your query,
Firstly, the concerned Bank/NBFC from where you have taken your loan can send their recovery agents to your house, but cannot harass you or ask for payments illegally. RBI Guidelines on Fair Recovery lays down strict guidelines for recovery of money in a peaceful manner.
You can offer a One Time Settlement as per the RBI guidelines by sending them a legal notice and ask for revised payment of the EMI.