I have 6 credit card and one personal loan. I had lost my job and was unemployed for a period of 8 months. However I have kept on doing the minimum payments due with what ever savings I had + making a mistake of using some credit card on rotation basis to do the payment. Last two month i.e. December 2019 & Janurary 2020 I got completely broke and was unable to pay any amount for any credit card or personal loan due. I understand that my due is around Rs. 7 to 8 lakhs (combining all the cards & the personal Loan inclusive of all outstanding). I have just joined a job on contract basis with a low salary of 24,000/- per month. I need help & support on debt management and credit counseling as with the current salary which I will receive, I probably may only be able to pay the minimum amount due of two of the credit card or one credit card & one personal loan. Requesting your help & suggestions
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Sucheta Dalal Trustee - Moneylife Foundation

Abhay Datar Abhay Datar is a consumer activist and is also Member of the Managing Committee of Mumbai Grahak Panchayat (MGP). He was Treasurer at MGP for over two and a half years. After working at Bank of Baroda for about 29 years, he retired as IT Manager. After retirement, Mr Datar joined Consumer Guidance Cell of MGP in 2008 and solved many cases related to banking including online fraudulent transactions, misuse of credit cards and ATM cards. Also handled cases related to mobile and mediclaim. Mr Data

Suresh Prabhu Mr Prabhu retired as Senior Vice President from HDFC Bank

R Bhuvaneswari After serving Bank of Baroda for almost 40 years, Ms Bhuvaneshwari retired as Chief Manager in 2013.

Yogesh Sapkale Yogesh Sapkale is Deputy Editor of Moneylife and writes on finance, credit related issues

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