Is there any possibility of not paying the debt if we paid 16lakhs interest for 10 Lakh loan
Sir, My father nearly made a debt of 1 and half crore . He is an RTC conductor whose retirement will be on 2030's and not even getting full income(deductions are approx. 30-33k) due to salary loans. He even took gold and house loans. We have no property left to sell. I am a girl who was graduated in 2021 , getting trained in Servicenow technology and getting a stipend of 16k. I have a sibling who was abnormal(deaf 70L and 30R ears hearing loss). My mother doesn't know how much debt he made but she was thinking it was 50-60L and gettting tensed and making me worry. She was crying all the time. I've forced my father day before yesterday (when my mom went out) to write the list of debt taken from whom and he was even shocked as me. The interests he was being paid monthly was 2L but the income is 20K. Is there any way to stop the loans and interest for now? I couldn't able to concentrate on my job due to this situation. I wish I would get some time period of 5-7years to clear the actual loans without interest as there was no way for me to pay now.