Legal Question in Banking Law in India

I had taken a hand loan from a private financer ....the loan about now is 2,80000,00...its been 3+ years and all this time i was paying her an intrest of 5% every month ...i am a physically handicapped person too ....but recently i lost my job , i am married , i stay in a rented house , my wife just earns 1ok she works in a beauty parlour ...i have not been able to pay the intrst for about 6 months now...i had signed in on a plane bond paper and give few cheques...now they are telling they will present the cheques and put me behind bars...
Please let em know what should I do ....I want to pay the loan back ..but cant pay the intrest or the loan amount now ..i can pay little everymonth ....i am completely depressed ....and i think i should end my life rather go to jail...my entire life willbe ruined...my children and family will be doomed... please help me and let me know my options.

Asked on 6/05/14, 5:40 am

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Give a complaint to Police Economic Services wink of your locality. They will take action. Do not be desperate to attempt suicide.

Answered on 6/09/14, 5:02 am

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