Seeking way forward

[User_61964afe]

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User_61964afe
PARTICIPANT
February 2, 2025 at 10:14 am

32 M. This is with reference to my previous post

https://www.reddit.com/r/personalfinanceindia/s/42Q4XUthFo

So basically, I owe lot of money to banks and NBFCs(almost 40 lakhs) + family/friends(20lakhs). All the amount is spent in medical expenses. Now, I am fully inclined to payback every single rupee I owe but I am currently unemployed (recently switched joining new company on 10th Feb) with a monthly in-hand of 1.5+

I won’t be able to pay any amount this month to any lenders. I need a way forward so that the lenders stop bombarding me with recovery calls/agents at my home.
I am not worried about my Cibil score dropping and committed to pay the late fees too.

Please Note – I haven’t missed any EMI till 31 Jan but the same would start happening from today.

Is there a legal way to stop the recovery hassles. I have sent out mails to every lender explaining my condition and asking for EMI relaxations/moratorium but so far I have got positive response only from one.

Can I just send legal notices to all of the below explaining my commitment to payback once I have the funds but I shouldn’t be bothered with recovery agents etc.

I owe to below institutions
1. HDFC Bank Personal Loan + credit card bills
2. Axis Bank Personal Loan + credit card bills
3. ICICI Bank Personal Loan + credit card bills
4. Kotak mahindra credit card bills
5. RBL credit card bills
6. YBL credit card bills

7. Payrupik
8. FIBE
9. KREDITBee
10. Truebalance
11. RupeeRedee
12. Muthoot insta personal Loan

Also while getting PL from Axis Bank, they made me sign 3 blank cheques stating mandate simplicifaction, can they use it to bounce and file a FIR against me.

TLDR – Currently not in a state to repay the financial institutions but fully committed to repay all. Need help with the way forward so that the institutions do not harass continuously via calls/agents. I am fully committed to stay in continuous touch with the institutions.

Axis has 3 blank cheques for me, can they bounce it and file a FIR against me?

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