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Credit card defaulters to be tracked through job sites

By SiliconIndia   |   Friday, 09 October 2009, 09:47 Hrs   |    13 Comments
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Credit card defaulters to be tracked through job sites
Bangalore: The credit card companies and recovery agents are tracking the defaulters through their resumes posted on the job sites, reports Economic Times.

Nithin Dutta, a marketing professional in Bangalore had posted his resume on a job site on August 7. He had an outstanding of 6,000 around seven months ago. As he had lost his job, he could not pay his debt. Two days later, two roughnecked recovery agents came at Dutta's home and threatened his wife Mahati of terrible consequences if the couple did not pay their credit card outstandings in one day.

Earlier, Dutta had relocated to Dubai, but returned to Bangalore as his wife had got a job. He had then posted his biodata on some job sites along with his new contact numbers and address.

"It is not that I did not want to honour the outstanding. But I was not in a position to do that. The thing is, we had just moved to the new address and even our parents and close friends did not know where we were staying. But the credit card recovery agents could locate me there. One of the agents told me that they got my address from a job site," said Dutta.

The reductions in the salary and job cut have resultantly increased the number of credit card defaulters in past one year. Ramdas Venkat, who works as a recovery agent on behalf of a credit card company, says banks are frantically looking for genuine information on credit card holders who default intentionally or unintentionally. The job sites are becoming a useful source for such information, especially on younger customers who use such sites extensively.

The employers can access Curriculum Vitae (CV) posted on job sites for a certain price. The revenues for viewing the IT resumes in Southern India are over 1 lakh. "We are in the contact content business and we will give access to employers who want to view profiles of candidates," said an official at a job site.

These recovery agents use decoy emails too. Another defaulter, Anoop Menon, got a mail saying he won a three day, two night free trip to Malaysia for two people. He called up a number given in the mail. "In 30 minutes, two recovery agents tracked me down to my new office. I guess even telecom companies sell subscriber data," described Menon.

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Reader's comments(13)
1: the best solution when these guys call up to ur new number just go ahead and change the whole handset because these guys take date from the subscribers as we use the same handset with same IMEI number
Posted by:suresh - 06 Dec, 2010
is bank is having an authority publish defaulters photos in newspaper? and block all his debit cards with other bank with the help of VISA and Mastercard
ramcharan Replied to: suresh - 31 Jul, 2011
3: Yes that's true even i got a call like this from these guys as my address way not mentioned properly in the job site so I advice all defaulters not to update correct address and phone numbers even change DOB
Posted by:suresh - 06 Dec, 2010
4: I guess, the job sites wont share the information, it could be the recovery agents who register in job sites as an Employer to get the information. To solve this issue..
1. Remove the D.O.B from your profile.
2. Change the email-id.
3. Change the mobile number.
4. Delete Parent's name, if any.
Posted by:Arun - 07 Dec, 2009
5: i wanted to say 1 thing,gautam your are correct..
Posted by:KANNA - 27 Nov, 2009
6: Who was that Recovery agent tell his name and i assure he will face dare legal consequences.

Tisry Adalat.
Posted by:Tisry Adalat - 11 Oct, 2009
7: Hey now you know everything is possible in INDIA
Posted by:Amar - 09 Oct, 2009
8: This is absolutely wrong. The job sites should share the information only with employers. The Resume contains many important details which can also be misused by these agents. Certainly the job sites should be sued for giving personal information to a third party.
Posted by:Anil Yadav - 09 Oct, 2009
how any one can threaten any one's wife.this is not the proper process to collect the amount.banks should see for other ethical way.we often find message from the job portal that they will not share our details to third party.then it is better to go directly to consultancy.
gautam Replied to: Anil Yadav - 09 Oct, 2009
no one can threaten any one's wife for the amount of 6000/- we nned to be bit logic in understanding the issue,if the above person has missed out the payment has he updated his new number and contact details with the bank so that bank will save half of its cost in tracking the customer,if person is making the payment why bank will send a recovery agent and that too for an amount of 6000/-,yes of course in anoher sense if some one has to owe money to me and not be seen not i have any contact numbers its my duty to track him and collect the payment orelse i cannot wait untill the person will return since even when he returns after couple of years he will not pay interest, and for our knowledge lets keep in our mind that what bank is shelling out its money in the form of credit card and loan its a public money i mean its my money incase if i have deposited since if bank is going under a loss bank will not tell us there is a reduce in the interest,when we are taking public money its our duty pay back since we are not getting the money from bank's CEO or CFO its again the public money and for your all reference can any one let me know that you will let the person who is not paying you actually who is suppose to pay.............finally because of these type intentional defaulter country has fallen prey to recession
anonymous Replied to: gautam - 28 Oct, 2009
Then how do you justify court/legal procedures?...u mean to say to recover money the banks has to hire goons and threat their family members?...should we all shut down the courts since every ethical procedure of resolving cases like this should be hiring agencies & gundas...? Or is the bank afraid that the interest charged frm the customers on the unsecured card loans provided is way too mch which the court might justify it on customer's favor? or is the bank scared that they might have issued a card to a customer before finding the customer's pay back credibility?...Most banks are cheats and they know their business well....which a common man wuldn't understand into what they are falling into...90% of the defaulters wud be ready to settle on principal if given a chance...
Indro Replied to: anonymous - 09 Jan, 2012
Recovery Agents as a company can open a employer account with job sites without any issues. Instead of using the job site for recruitment they use it for recovery purposes. Unfortunately there is no rules to streamline this process.
Rajnikanth Punjala Replied to: Anil Yadav - 09 Oct, 2009
13: This is not good. The job sites should be sued for giving personal information to a third party
Posted by:Nitin - 09 Oct, 2009