Unable to repay debts

Querist : Anonymous (Querist) 08 September 2019 This query is : Resolved
Hello Sir/Madam,

I do have very huge debts where i am unable to make the repayments i dont have any property to settle (All the loans are personal loans and credit cards). Most of them are short term loans.

I have 25 lakhs of loans when i sum up the principal of unsecured personal loans and credit cards.

I dont have any other options to repay because the amount which i am getting as salary is not sufficient to repay those EMI's. Kindly suggest me the best .

I would be more thankful if i get a response.

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Isaac Gabriel (Expert) 08 September 2019
If it is the case, how were you able to get huge loans as personal loan without security. If anybody stood as surety, he would be the sufferer. Neverthless, try for one time settlement and negotiate with the banker with the available resources.

Sudhir Kumar, Advocate (Expert) 10 September 2019
It is not a legal query at all.

Guest (Expert) 10 September 2019
Contact a Good Advocate who could understand your Query as Legal query not any Deputy Managers.

SHIRISH PAWAR, 7738990900 (Expert) 10 September 2019
You have to repay all the loans. Explain your difficulty to bank officers and try to negotiate with them for settlement.