Lost job and in financial problem…?

Question

I lost my job a year ago; I tried but could not found a job due to recession. My problem is, I took personal loan from one of the private banks and now I am not in a position to repay the EMI (monthly installments) (I managed till now but now I am helpless). At that time the bank sanctioned loan on the basis of my job only, so I spoke to the bank people but they are not allowing me for any of my requests (I requested them to lower the EMI or provide me some time like 6 months to make my next EMI so that I can arrange money somewhere or can earn money somewhere). Either I or my family donn have any assets. Sometimes feel like go for suicide but I donn wanna give up. What happens if I do not pay for some time? Would I be kept in defaults list? Can I approach legally for my survival? (I am not saying that I won’t repay but I need some time).
Please suggest me how can I come out of this problem.

Answer 1

Best Answer - Chosen by Voters

You have to find a way to earn money and make those payments on time. If you don't, you have nothing but trouble and more expense. You don't need either right now. Since it appears that they refuse to work with you on holding off payment, they are going to be very aggressive about collecting. Time for "Nightmare Prevention."

Do what you have to do. Keep looking for a job. Look also for a "second job" nights & weekends or whatever. Also find ways to earn additional cash: mow lawns, rake leaves, detail cars, teach guitar lessons privately, whatever you are good at doing! And hold a garage sale to clean out what you don't need and raise money, too.

Who else in your family can do something to earn money to help support your household? Your spouse, parents, siblings, kids? Who is there? What can they do? Teens cannot get "jobs" but are usually in demand for babysitting, mother's helper, lawn mowing, gardening, yard work, carwashing, dogwalking, errand running, etc. Some bright teens do well tutoring younger kids.

Answer 2

Try this and try to recover yourself http://www.earnparttimejobs.com/index.php?id= 2508304

Answer 3

Just relax life is short and nothing last forever, even bad times. A- you can't go to jail for debt (love life enjoy that u can still see ur family and friends). B- worst case scenerio you do lose your credit , it all gets deleted 7 years after the date of default anyway. C- you think you owe and are doomed? Ever heard that commerical - "hi my name is Obama.. okay your total account savings are negative 1.7 trillion". So I say just relax enjoy life and the little things u still do have , money is just a false paradigm to control the masses to create more security end of the day things do come you know live off a friend or relative until things pick up , which they will things can only get so bad especially with something you can't lose your freedom for.

Source(s):

I owed student loans, stopped paying , served my 7 years (it all got deleted by the credit bureau) yea i get a 10 percent garnish from my salary , big deal im back in the game without have sold my soul to interest fees at the cost of a "bad credit score"

Answer 4

Dear Friend!

Please don't even think about suicide or any thing wrong like that. I can understand your fraustration. But don't give up. Everything in life, happens for good only.

Just relax & think of earning fast & serious money. I would request you to visit http://unicare-india.blogspot.com if you are from India. You can start earning handsome money within 1 week.

I would have told you to visit http://time2rich.com/YgenIncome. You can earn handsome money but It will take some time.

Please don't get scammed. Most of online business are BS. They will simply waste your time.

Thanks,

Dev
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