What should I do if I am unable to pay my loan payments and emi

24-Apr-2023 (In Banking / Finance Law)
Sir I have taken personal loans and credit cards in different banks like Axis 2.25 HDFC 2.25 ICICI 90k SBI 40 k Personal loans in axis 3.00 HDFC 2.49 Bajaj 1.8 From last 5 months onwords I am unable to pay my amounts due to I lost job and one of my friend cheated me taken amounts 25 lac sir present my situation is so critical my age 30 My father and my relatives all are helpless due to I have brought some amount from them selves and paid some min amounts and emis also present all bank persons are saying we will send legal notice to me may I know what should I do and I will pay all amounts but need time I am searching job.
Answers (1)

Answer #1
661 votes
I don't understand , why you're not taking any action against your friend for cheating you for 25 lakhs? Its a huge amount. Escaping from bank loans with Insolvency Petition was not possible now a days.
But you have to approach an Arbitration Advocate near your jurisdiction for legal advice against bank loans. If you are really unable to pay bank emi's , you have to submit the evidence.
You are not mention your job profile,
Experience, CTC and loans track records for analyse of your data.
So, please provide your complete details through e-mail to analyse. So that I will try to give better advice to your problem.

Have a nice day. Thanks for your query. Good luck.

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at and has been responded by one of the Divorce Lawyers at to address the specific facts and details.

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