Urgent : Debt Trap is Killing Me | Need Advice
Hello Community, I am an average Indian Single male from middle class background and got stuck into Debt Trap. I earn around 1.9Lakhs INR per month. I do not own any assets or any investments. All loans are Unsecured. These are my monthly obligations towards Banks/NBFC's. ( FC means Foreclosure Amount)
Long TERM BANK Loans
Bank 1 -- 2nd -- 11,115/- FC--4,06,940/-
Bank 2 -- 7th -- 9,096/- FC--4,09,000/-
Bank 3 -- 7th -- 14,833/- FC--5,63,000/-
Bank 4 -- 5th -- 33,616/- FC--13,00,000/-
Bank 5 -- 5th -- 47,272/- FC--22,89,952/-
Medium TERM APP Loans
App 1 -- 7,617/- 1st FC--23,275/-
App 2 -- 5th -- 3,890/- FC--26,819/-
App 3 - 10,168/- 5th. FC--30504/-
App 4 -- 2nd -- 2,448/- FC--33,283/-
App 5 - 6,372/- 5th. FC--37,696/-
App 6 -- 2nd -- 18,716/- FC--54,219/-
App 7 -- 3rd -- 6,910/- FC--61,736/-
App 8 -- 10,000/- 2nd FC--81,507/-
App 9 - 13044/- EOM. FC-- 1,01,428/-
App 10 -- 41,609/- 5th. FC--1,23,786/-
Short TERM APP Loans ( No EMI, Full Payment)
App 1 -- 55,000/- 31st
App 2-- 1,48,960/- 2nd
App 3- 45,000/- 2nd
App 4 -- 39,600/- 30th
App 5 - 60,000/- EOM
App 6 - 27,600 EOM
App 7 - 12,000/- Due Now
On the top of it I have around 10 Lakhs in Credit card debts whose due amount I've not been able to pay from last 2 months incurring late charges.
I have borrowed around 18 lakhs from Friends and Family.
I pay around 30k in rent and 20k for other household expenses.
Now as you can concur that situation is very critical and I am unable to see a way out of it. All these Debt were taken to support my family and none could be recovered from them.
It's gotten difficult for me to breathe with this now. Please help me find a path which doesn't leads to destruction. TIA.
EDIT: If someone has any references for Debt Consolidation firm which can help out or a Private Financer who can finance in Bangalore. Please DM.