Loan repayment with no income source
02-Sep-2023 (In Bankruptcy / Insolvency Law)
I have lost huge amount of 50 lacs in stock market by taking personal loans.
Now I don't have any source to repay or any property to sell.
So kindly advice me what should I do.
I know it's big mistake I did but I was trapped in losses so to recover I took loans again and again.
With all these pressures took wrong decisions.
Now if I don't repay should I go to jail?
Those who gave me loans include Banks and other private finance lenders.
But by doing job or anything I want to repay even my full life.
My age is 26.
Now I'm absconding from all of them bcoz those lenders are so angry and can do anything to me in wrong way so I'm scared to tell them.
If I go to police station also they may kill me for sure.
I really want anyone support or I even thought to commit suicide but want to repay them so only I want to live.
Kindly please let me know what to do.
Thanks.
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