security cheque deposited by force

i taken a loan of amount 2,00,000 from a known person. and given 6000 interest very month. ofter 1 year i repaid 50,000 and started to give 4500 per month as a interest. then ofter ayear a paid 25,000. but main balance of unpaid is 1,25,000. but overall i repaid loan amount is 75,000 wereas i paid more than 2,50,000 as a interest. due to business lose i unable to pay him. for his harass, i given complaint to police. but i not filed FIR against him, compromised in station and given 3 cheque. but now he is not waiting for my situation. he returned my cheque and filed c.c on me. i am not in the position to pay him. i need more time what i have to do. help me