• 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 2 years ago 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
5248 Answers
54 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
14158 Answers
128 Consultations
5.0 on 5.0
Ashish Davessar
Advocate, Jaipur
18246 Answers
450 Consultations
5.0 on 5.0
Krishna Kishore Ganguly
Advocate, Kolkata
12143 Answers
233 Consultations
5.0 on 5.0
Devajyoti Barman
Advocate, Kolkata
5248 Answers
54 Consultations
4.9 on 5.0
Nadeem Qureshi
Advocate, New Delhi
3537 Answers
130 Consultations
4.9 on 5.0
Shivendra Pratap Singh
Advocate, Lucknow
2786 Answers
41 Consultations
4.9 on 5.0
Atulay Nehra
Advocate, Noida
444 Answers
15 Consultations
4.7 on 5.0
Rajgopalan Sripathi
Advocate, Hyderabad
873 Answers
43 Consultations
5.0 on 5.0
Ajay N S
Advocate, Ernakulam
1916 Answers
19 Consultations
5.0 on 5.0
S J Mathew
Advocate, Mumbai
1954 Answers
66 Consultations
5.0 on 5.0