• In huge loan but I have no money

I am bhavesh from vasai, i have 4cr of loan and now i dont have anything to pay that loan. i am earning 15000 per day = 20 days = 300000 per month from stock mkt and giving principal return to everyone from whom i took the personal loan. but all people are harassing me and hitting me and give me life threat, i dont know what to do now? frustrated and want to surrendr myself to police. what to do ? please help urgently. feeling to do suicide...
Asked in Criminal Law from Vasai, Maharashtra
Ur income is healthy ,though not commensurate with the magnitude of loan u have taken, try to convince  those money lenders that it will take some time to re pay the loan, if instead u face the hit of them, ask police to provide security.
Soumya Kundu
Advocate, Kolkata
87 Answers
0 Consultations

4.5 on 5.0

Those persons who have lent money to you can only recover the same by due process of law. They cannot take law into their hands. If you have been assaulted  or given a threat to your life, you can approach the jurisdictional police and lodge complaint against the concerned.
Md. Zulfikhar Ahamed
Advocate, Bangalore
5 Answers
0 Consultations

Not rated

1. If you have such meager income then it was your fault to borrow such huge amount of money.
2. Now since you are no way in a position to repay the loan the only option for you for your safety is to file a suit of insolvency.
3. In this proceeding for adjudging you an insolvent , you have declare whatever assets you have left for your disposal.
4. At the end of trial if you are adjudged an insolvent then your left over property will be distributed amount your creditors as per their preferential status.
Devajyoti Barman
Advocate, Kolkata
7274 Answers
82 Consultations

4.9 on 5.0

Ask a Lawyer

Get legal answers from top-rated lawyers in 1 hour. It's quick, easy, and anonymous!
  Ask a Lawyer

Criminal Lawyers

T Kalaiselvan
Advocate, Vellore
18668 Answers
176 Consultations

5.0 on 5.0

Krishna Kishore Ganguly
Advocate, Kolkata
13923 Answers
309 Consultations

5.0 on 5.0

Ashish Davessar
Advocate, Jaipur
19897 Answers
519 Consultations

5.0 on 5.0

Devajyoti Barman
Advocate, Kolkata
7274 Answers
82 Consultations

4.9 on 5.0

Nadeem Qureshi
Advocate, New Delhi
3980 Answers
158 Consultations

4.9 on 5.0

Shivendra Pratap Singh
Advocate, Lucknow
3303 Answers
51 Consultations

4.9 on 5.0

Rajgopalan Sripathi
Advocate, Hyderabad
996 Answers
73 Consultations

5.0 on 5.0

Ajay N S
Advocate, Ernakulam
2069 Answers
24 Consultations

5.0 on 5.0

Kiran N. Murthy
Advocate, Bangalore
829 Answers
62 Consultations

5.0 on 5.0

Thresiamma G. Mathew
Advocate, Mumbai
1380 Answers
102 Consultations

5.0 on 5.0