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I have fallen into a multiple-loan EMI trap. i want help urgently


25-Apr-2026 (In Recovery Law)
I had taken out a digital loan through a mobile app. I took one loan, and then another; initially, the situation was manageable. However, later on, I faced issues with my salary, so I decided to take out a larger loan to clear all my outstanding debts at once. Under that pressure, I failed to perform the necessary calculations regarding interest rates—specifically, how much I had borrowed versus how much I would ultimately have to repay. please help me please
Answers (5)

Answer #1
524 votes
You can also approach the RBI Ombudsman (Integrated Ombudsman Scheme) after the lender’s response or if no response in 30 days. It’s quasi-judicial and can direct the lender to correct unfair practices, refund excess charges, or restructure the loan. You can also report suspicious apps, numbers on the Sanchar Saathi portal to block them.
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Advocate Santosh S. Gaikwad

Adv. Santosh S. Gaikwad

LawRato Navi Mumbai | 50+ Answers
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Answer #2
573 votes
In such situations, you may address a letter to the bank seeking an extension for repayment of the debt, clearly explaining your genuine difficulties and bona fides as to why you are unable to adhere to the prescribed timeline. Typically, the recovery process involves continuous follow-up calls from recovery agents, issuance of legal recovery notices, initiation of arbitration proceedings, and, in certain cases, filing of a complaint under Section 25. It is also always advisable to respond to all notices issued by the bank or its legal representatives to place your position on record and avoid any adverse inference.
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Answer #3
900 votes
hi this is adv vibha narendra mishrikotkar from law rato app I will definitely give answer to your questions kindly contacting me or what's app me from law rato app thank u so much to contact me from law rato app
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Advocate Vibha Narendra Mishrikotkar

Adv. Vibha Narendra Mishrikotkar

LawRatoMumbai | 25+ Answers
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Answer #4
793 votes
Stop paying your EMI's let them NPA your account in all these cases, get settlement offers from them these cases get settled in 30-40% but they will harass you a lot for recovery and you cannot get loan again
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Advocate Moksh Jain

Adv. Moksh Jain

LawRatoMumbai | 100+ Answers
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Answer #5
527 votes
You may first collect all loan documents, repayment schedules and app details. Check whether the lender is RBI registered and whether excessive interest or illegal recovery methods are being used. Legal remedies may be available.
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Advocate Pankaj Bajaj

Adv. Pankaj Bajaj

LawRatoMumbai | 1000+ Answers
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