Seeking advice for Insolvency.

I am an individual, I am under severe pressure from collection agents as I am unable to pay my loans. I have a total of 3 lakh rupees in loans. I lost my job on 15th July due to some reasons and am unable to pay back anything. I have always paid my bills on time. I had a pretty good credit history. Even after losing my job I exhausted all my savings so that I don't default. However since I am looking for a new job and am unemployed, I cannot pay the EMIs. The collection agents are harrassing me and calling me over 100 times per week and saying u have to pay today... Do whatever you can but you have to pay today. Now the situation I am in is very difficult for me... I never thought that I won't be able to pay back the money but life has landed me in this situation. I am a legal heir to my parents property so will that get attached to my insolvency petition? And what can I do so that this harrasment stops and I can reach a stable place in my mind. I am very concerned as these people call my grandmother sometimes and demand money. This is absolutely ridiculous and frivolous on part of these collection agents. I don't know what to do, please suggest what I can do. I will pay the money once I get a job and become a little bit stable.