Unable to repay loan – need advice

I’m working in private sector and got a loan of Rs.300000/- from private bank and repaying around 14000/- EMI and there were about 23 months to be paid and the total tenure was 48 months.

Further, I miss used my credit card and the outstanding amount is around 3.5 lakhs. The minimum due is coming around 20000 INR.

However my salary is 33000 INR and I tried to get it cleared the credit card outstanding amount partially getting financially help from my friends/relatives. Due to family finance problem, it forced me to withdraw money thru’ credit card multiple times and finally the outstanding amount in credit card is around 3.5 lakhs again.

Currently, I’m not able to repay the loan or the credit card outstanding amount or credit card minimum due of Rs.20000 INR.

Moreover, I’m not able to get financially help from my friends or relatives or PL from company is also not possible.

Since I had not properly maintained my expenses, it’s dragged me to corner of my life financially and not able to get out from the pitfall.

Please give me an idea on how I can clear my debits in terms of deal with bank and any other ways to handle it.


first u must have done ur expenses within ur reach.

first cut your Extra expenses.


for solution

Approach the bank and request the bank and tell them to increase ur loan tenure thereby monthly EMI will be reduce.

for Credit Card also .


Only settlement of loan with the banks is the final positive solution for you,dont pay emi for sometime, and try to pay a loan in a lump sum amount after a regular interval,this will help you to reduce your burden.Don't worry.


OTS or one time settlement of loan outstanding may be a solution.but banks apply OTS only if they are satisfied about the genuineness  of  the distressed situation of the  borrower.

as you are a salary class with fixed income,OTS is difficult in your case.

what you can also try is reschedulement of loan spread over more months/years of repayment.But this will increase the interest burden on you.

try for both alternatives.

 see if you can also get any parttime position / tutions  to get more income to repay your debts.

remember always," More things are wrought by prayers than are usually thought of".

,If you repent really for your past deeds, sincerely, god will open up  many opportunities  before you.




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