Hi everyone,
I’m posting here because I’ve tried multiple options and reached a point where I can’t solve this on my own.
I have a stable job with a monthly income of around ₹90,000. My essential expenses (rent, living costs, and supporting family while living in a different city) are around ₹40,000.
The situation started a while back when I took a small loan during a financially difficult period when my income was much lower. To manage repayments, I gradually took multiple short-term loans. Over time, this turned into a cycle where one loan was used to repay another.
Right now, my situation looks like this:
- Income: ₹90,000/month
- Essential expenses: ~₹40,000
- EMI (regulated apps): ~₹1,11,000
- Interest to personal borrowings: ~₹72,000
Total monthly outflow is over ₹2.2L, which is far beyond my income. I fall short by more than ₹1.2L every month, and this is largely just interest payments.
On top of this, I have around ₹13L in high-interest short-term loan apps, which is where most of the rotation problem is happening. The constant due dates, calls, and pressure have made this very difficult to manage, both financially and mentally.
I’ve already explored several options:
- Loan restructuring — rejected
- Debt consolidation — rejected
- Support from family/friends — not possible further
- Gold loan and similar options — not available
At this point, I’m trying to understand:
- How to realistically break this cycle
- How to prioritize which loans to deal with first
- What has worked for others in similar situations
I fully take responsibility for how I got here. I’m not trying to avoid repayment — I want to handle this properly and stabilize my situation.
If anyone has gone through something similar or has practical advice, I’d genuinely appreciate your input. I’m also open to connecting over DM if needed.
Thanks for taking the time to read.