New Delhi, Sept. 1 -- Efficiently dealing with personal loan debt collectors can be stressful, but knowing your fundamental rights and responsibilities can make a huge difference.

The nations' lending institutions and recovery agents must now follow strict guidelines and regulations laid down by the Reserve Bank of India (RBI) to ensure protection of borrowers from unethical collection practices, emotional harassment, and unnecessary trouble.

It is therefore important for borrowers to not only ensure on-time repayment of loans but also sensible planning before availing of loans. So that they are never faced with sudden or unexpected recoveries.

Chintan Panchmatiya, founder of SwitchMyLoan, says, "The smartest way to avoid debt collecti...