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Request for Legal Assistance with Debt Management


05-Oct-2024 (In Recovery Law)
I hope this message finds you well. I am seeking your legal expertise regarding a pressing financial situation. I have taken loans from multiple individuals at a 20% monthly interest rate, consolidating approximately 20 lakh rupees. Unfortunately, I invested this amount in the stock market and have lost all of it. I am now unable to repay my creditors, who are demanding immediate payment. I would like to discuss options for debt management, including potential debt restructuring, insolvency.
Answers (1)

Answer #1
539 votes
there are multiple steps which can be taken, first we need to understand from your documents, the total types of debt you have. we can make representation to banks for restructuring of the loans and request for moratorium. Regards, Yashashwi
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Advocate Yashashwi Sundariya

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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 lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.

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