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Unable to pay loan amount agents are harassing me


16-Mar-2023 (In Recovery Law)

I am under debt of 80 lakh, I was update on interest till last december -15, Which is approximate 2.8 lakh per month. since 3 months I am finding difficult to pay interest because of reduction of monthly income day by day, it has resulted in pressure, abusing by loan providors etc, some time because of that I lost temper & day by day I am getting depressed. & it is affecting my daily bread too. I am not having any assets and my cibil is bad because of business loss I suffered in 2009. Please show me the way to get time & little bit relief to concentrate to earn and to clear all the debts.

Answers (2)

Answer #1
759 votes
See... this is a common thing that happens to all persons who do not plan their expenditures properly, first of all it is not wise to incur debts when one does not plan the proper resources to repay the same, in so far as the business debts are concerned I do not understand why your cibil rating has become bad now for the losses you incurred in 2009, According to me it should have become bad in the year 2010 itself, however all said and done, In my humble opinion I discourage anyone from using any Court as a tool to get time and little bit relief, but I advise you to convince your lenders that you will earn and pay all their debts in due course and they are sure to agree, If you proceed to any Court with any frivolous litigation it will only result in adding fresh fuel to the already burning fire.
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Advocate Hemachandra K N

Adv. Hemachandra K N

LawRato Bangalore / Bengaluru | 25+ Answers
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Answer #2
671 votes
Dear Sir / Madam, Time to take care your health. Recovery agents does not have right to harass you because of non payment towards you loan. Their only right isto send legal notice for recovery of dues. Agents may go to police station to file cheating complaint against you. Act quickly and think of filing Bankruptcy. Do not bother about CIBIL history. For futher legal remedy, need to discuss more this issue. you need to act quickly.
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