► Hi ,
I'm facing a severe financial crisis. Out of desperation, I took multiple payday loans—these are high-interest loans (charging 1% per day) that are approved based on salary and are due on the salary date. Because of a poor CIBIL score, I couldn't get other types of credit and had no choice at the time.
Now, I’m stuck with 15 active loans, and the situation is overwhelming. The lenders are aggressive and use unethical recovery practices. They call my personal references, office colleagues, and even my HR department. Some of them use abusive language.
I don’t know what to do anymore. Please help me.
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3 answers
3 Answers
Jul 06, 2025
Dear sir,
Unethical recovery methods are illegal: As per RBI guidelines, lenders cannot:
Call or harass your friends, colleagues, or HR.
Use abusive or threatening language.
Reveal your personal loan details to others without your consent.
Jul 06, 2025
You currently have 15 loans that follow a pay-per-day structure, which may not comply with RBI guidelines.
Please download the welcome letter or loan agreement for each loan.
Keep a record of all payments you’ve made so far for your reference.
Jul 03, 2025
You can report the matter to police for abusive behaviour and can lodge FIR also. The interest rate are against public policy and are illegal and cannot be charged. Remove the loan apps from mobile.
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