Personal Loan & Credit cards

manikandan (Querist) 18 August 2009 This query is : Resolved
Dear Experts, My monthly salary is Rs.13000 and my take home is rs.8500. Five years back i have taken personal loan of rs.65000 and paid all the dues without any default. Immediately after closing this loan they offered Rs.180000, as pre approved loan. likewise i have taken upto 20 lacs thru personal and credit card loans. My overall due with all the bank is rs.20 lacs. But never i have given false income proof, and they provided with high value credit limit. I used this amount to start business and met bad loss. now i am not in a condition to repay the amount. I dont have other income also. My salary (rs.8500) is being deducted by the bank thru auto debit every month. All the banks putting pressure on me to pay the amount immediately. kindly guide me how to proceed further.

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