I had two loans totalling to 990000, one from HDFC and one from Yes Bank
I applied for balance transfer of HDFC to Yes Bank and before transfer I never delayed any EMI.
My balance transfer was approved in in October and first EMI was supposed to be deducted in November. I lost my job the very same month and since then I don't have a job

Problem is Debt Collectors have harrassed me and my family and they are still doing it. Situation is worse now that the debt collectors have started calling all my relatives and my father's office and his colleagues.
My sister is going through divorce and they have also threatened to defame my sister and my wife being pregnant, they call her every day because of which her condition is not good.

I am not sure what to do here but I've told that I can afford to pay 400,000 and once I have a better job I'll save money pay the remaining but they are not agreeing to any settlement.

Please suggest me what to do before the situation becomes more worse .

I even have a call recording where the debt collector said that I will ruin your family reputation

Please help me
Our Experts

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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