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seeking advice regarding a serious financial issue.


28-Jun-2025 (In Recovery Law)
Hello, I’m seeking advice regarding a serious financial issue. Due to a financial crisis, I have defaulted on unsecured personal loans totaling around ₹1 crore from multiple banks and NBFCs in India. I am currently residing and working in Dubai, but my income is not sufficient to cover the EMI obligations or settle the total debt. I am not in a position to assure the banks how and when I can repay. There have been numerous calls and messages from banks and recovery agents, but I am mentally an
Answers (2)

Answer #1
880 votes
you are facing a significant financial and emotional burden due to your debit situation . Try to Inform each lender in writing about your financial hardship and request them to loan restructuring or one time settlement. Immediately consult a lawyer to send a legal notice . if recovery agents harass your family in India you can file a police complainant against the lenders under RBI rules . Under the RBI's guidelines, lenders must offer restructuring loan options for genuine Hardship cases. Consult a lawyer. They can negotiate with banks on your behalf.
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Advocate Pavani Kumari

Adv. Pavani Kumari

LawRato Guntur | 400+ Answers
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Answer #2
929 votes
If you taken loans from India i can help you as you said you are staying and working in Dubai , we can’t help if u taken loans from Dubai ,,, we file a petition in court and take orders that no one can harasse you bank officials and recovery agents Approach us we will help u
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Advocate Rajkiran Govindcar

Adv. Rajkiran Govindcar

LawRatoHyderabad | 700+ Answers
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