I have joined this forum in the hope that I wil get some help from experienced people.
My name is Abhishek , I am married and have a 5 year old son. I am working in Bangalore.I had taken personal loans of around Rs 5 lakhs in 2006 from different banks. The reason I had taken these loans is becoz I was promised a job abroad by a consultant.
However the consultant ran away with the money. He went out of India and we could never find him. I was totally devastated after this incident as I had resigned from my job. I had no choice but to avoid these loans for sometime. I shifted my house and stayed low for sometime.
Currently I am working in a BPO with a meagre salary of around 17,000. When i had taken these loans back in 2006, I was earning around 30,000.
Now banks have found out my address and started torturing me. They even came to my house and misbehaved with my family. I want to clear off these loans but I am incapable of doing so at present.
I have some amounts to 2 banks, ICICI and Future Capital. However , they are forcing me to pay 10,000 and 5,000 resp every month which is impossibe for me. I have a family to take care of, my wife is not working currently due to health issues and my sons school fees is due for the past 6 months. What should I do ? I have become so depressed becoz of this.Other banks have started calling me as well and I dont know what to tell them. Please give some advice.