URGENT NEED PRIVATE FUNDING IN NCR
27M Delhi Please don’t judge. I know I made mistakes. I’m just trying to recover before things completely collapse. I’m stuck in a serious payday loan debt trap and genuinely need advice.
It started during a medical emergency. I took some payday loan, repaid it on time, then kept taking new ones to manage old payments. Now it has turned into around 30–40 loan apps and total debt of roughly ₹6–7 lakhs.
The worst part is that my CIBIL is still around 780 and I have a stable salary of ₹40k/month, but banks still reject me. I think it’s because of too many active loans and enquiries. I even tried private funders and got one loan, but it wasn’t enough.
Combined, me and my fiance earn around ₹70k/month consistently, so income is not completely unstable. The real problem is the insane payday interest — almost ₹80k/month is going just into repayments and rollovers. All my savings are gone. I already tried asking friends and family for help but nobody can support financially anymore.
I do NOT want to default and destroy my CIBIL. I can realistically pay around ₹25k EMI monthly if I get a proper consolidation loan or structured solution.
Has anyone escaped a situation like this in India? What are the practical options now?