Unsecured Loan Default
2 months ago
I am in deep trouble and need your immediate help on the same. I am Individual having in hand monthly salary of Rs. 80000. I made a huge mistake by taking personal loans and lost all the amount in Share Market. The total personal loan taken by me is more than Rs. 33 Lakh from different Bank/NBFC. Now the Monthly EMI for the loan is Rs. 1.28 Lakh and my salary is Rs. 80,000. How will i pay the amount sir and how will I take care of my family and kids.
I am very afraid and feels like suicide is only a suggestion. Request you to please assist and save me. I am attaching the details of loan taken by me with EMI. I agree that I have taken excess loan, but how come the NBFC gave me loan without evaluating my salary structure.
What should I do.. I dont have any money. Will I have to go to Jail.
A.Dear Client,
Certainly, we can assist in restructuring your loan and managing your financial obligations. Additionally, we have the option to mortgage any property you or your relatives/friends own, enabling us to arrange for lower EMI payments. We are here to help you navigate and restructure your financial responsibilities effectively.
Certainly, we can assist in restructuring your loan and managing your financial obligations. Additionally, we have the option to mortgage any property you or your relatives/friends own, enabling us to arrange for lower EMI payments. We are here to help you navigate and restructure your financial responsibilities effectively.
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A.No, we can do restructuring of your loan and financial liabilities also we can mortgage any kind of property which you or your relative/ friend has and those EMI's will be on the lower side. we can help you to restructure your financial liabilities
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A.Dear Client,
Based on your good credit score and fixed income obligation ratio that calculated a borrower's eligibility for a personal loan by applying the multiplier method, you were granted loans more than your threshold limit by the different Bank/NBFC as your CIBIL score remains unaffected by any negative report at the time of sanction of loans. In the prevailing situation, under the Provincial Insolvency Act, 1920 (which is now repealed as IBC Code 2016), you can apply for bankruptcy if you are unable to repay a debt greater than ₹500. After analyzing whether the conditions for filing for bankruptcy have been met, the court may accept or reject the application. Alternatively, you can try to negotiate a debt settlement on your own if your pocket permits to repay the entire outstanding at a time for a one-time settlement of dues, but you cannot escape yourself from your liabilities of repayment of loans and apart from facing other legal consequences. However, sometimes it's typically done through third parties like debt relief companies, which you may hire to negotiate the settlement matter with the lender on your behalf. With this method, you will make payments to the debt settlement company rather than your creditors/lenders, along with any fees. Debt settlement is an agreement between a lender and a borrower in which the borrower repays a portion of a loan balance and the lender forgives the remainder. You may consider starting the negotiation by offering to pay 25% or 30% of your outstanding balance in return for forgiveness on the rest. But, it may be noted that while there are legitimate debt relief/settlement companies, there are also many scam operations. So, if you're considering one, the Consumer Financial Protection Bureau(CFPB) suggests for contacting your state attorney general's(AG) office and local consumer protection agency to ask if they have any consumer complaints on file about that company. Some states require that debt settlement companies be licensed, which may provide some added protection. Although a debt settlement can offload some of your financial crisis, there are also a few potential risks and downsides to consider. First, a debt settlement will affect your credit score. That will make it more difficult for you to get credit or good interest rates in the future. Another potential drawback is that when you settle debt, you could face tax consequences. A quick counselling session with a certified credit counsellor can help you to discover your options and choose the right path forward to settle the debts/loan with the Bank.
Based on your good credit score and fixed income obligation ratio that calculated a borrower's eligibility for a personal loan by applying the multiplier method, you were granted loans more than your threshold limit by the different Bank/NBFC as your CIBIL score remains unaffected by any negative report at the time of sanction of loans. In the prevailing situation, under the Provincial Insolvency Act, 1920 (which is now repealed as IBC Code 2016), you can apply for bankruptcy if you are unable to repay a debt greater than ₹500. After analyzing whether the conditions for filing for bankruptcy have been met, the court may accept or reject the application. Alternatively, you can try to negotiate a debt settlement on your own if your pocket permits to repay the entire outstanding at a time for a one-time settlement of dues, but you cannot escape yourself from your liabilities of repayment of loans and apart from facing other legal consequences. However, sometimes it's typically done through third parties like debt relief companies, which you may hire to negotiate the settlement matter with the lender on your behalf. With this method, you will make payments to the debt settlement company rather than your creditors/lenders, along with any fees. Debt settlement is an agreement between a lender and a borrower in which the borrower repays a portion of a loan balance and the lender forgives the remainder. You may consider starting the negotiation by offering to pay 25% or 30% of your outstanding balance in return for forgiveness on the rest. But, it may be noted that while there are legitimate debt relief/settlement companies, there are also many scam operations. So, if you're considering one, the Consumer Financial Protection Bureau(CFPB) suggests for contacting your state attorney general's(AG) office and local consumer protection agency to ask if they have any consumer complaints on file about that company. Some states require that debt settlement companies be licensed, which may provide some added protection. Although a debt settlement can offload some of your financial crisis, there are also a few potential risks and downsides to consider. First, a debt settlement will affect your credit score. That will make it more difficult for you to get credit or good interest rates in the future. Another potential drawback is that when you settle debt, you could face tax consequences. A quick counselling session with a certified credit counsellor can help you to discover your options and choose the right path forward to settle the debts/loan with the Bank.
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