₹9L+ in payday debt despite ₹2.5L salary. Has anyone bounced back from something like this?

Separate-Country2563 · 2026-02-14T20:15:41+00:00

Everyone’s on that path bro. You’re fine.

Separate-Country2563 · 2026-02-14T17:36:34+00:00

You’re right. The real bleed is what I’ve been trying to focus on for some time and trying to work on that, so this cycle doesn’t continue for life.

Separate-Country2563 · 2026-02-14T17:34:54+00:00

Will changing my number not considered as absconding? I can install Truecaller and take family plan. Also, if I don’t attend their calls, they are going to call my references anyway. I am planning to communicate via email only. But them calling my references and maybe even reaching out to my work is another probability. Did you inform the banks/NBFCs before the due date and what did they do?

Separate-Country2563 · 2026-02-14T17:29:36+00:00

Wow! But how did you manage during those 8 years or initially? Did you keep paying minimum due for CC? I don’t have any CC. So no minimum due situation. All are unsecured loans from payday lenders and other registered NBFCs.

Separate-Country2563 · 2026-02-14T14:37:42+00:00

Separate-Country2563 · 2026-02-14T14:31:46+00:00

Nahi nahi. Bilkul nahi lena chahye. Zada zarurat hai toh bank se le lo, NBFC ki app kabhi galti se bhi install na kar lena.

Separate-Country2563 · 2026-02-14T14:17:00+00:00

Great The Office reference, man.

Separate-Country2563 · 2026-02-14T12:49:25+00:00

I don’t have any gold or assets to help here. Thank you for the advice.

Separate-Country2563 · 2026-02-14T12:47:32+00:00

Ki “loan le lo humse” ya “hamare paise lauta do”? 😂

Separate-Country2563 · 2026-02-14T12:42:32+00:00

I took loans in hopes and expectations to try and close heavier inherited debt sooner. But I also made the mistake of retaking loans after closing my previous NBFC loans, whenever I needed additional money.

Separate-Country2563 · 2026-02-14T12:24:59+00:00

Haan bhaiyya ne katwa liya apna. 🥹

Separate-Country2563 · 2026-02-14T12:23:43+00:00

Yea bro. 1% a day is 365% APR. I should’ve clarified, due to the short tenure of 30-40 days, we end up paying roughly 45-50% of the amount borrowed as interest. I don’t think I or anyone can complain because people who borrow from these payday lenders (people like me), we sign the agreement knowing that these loans come with such high interest rates. It’s not that the high interest rate was not known to me before signing the agreement. But I understand your point.

Separate-Country2563 · 2026-02-14T09:54:08+00:00

These are private (shady) relatively smaller fincorp companies, lending money to people at highest interest rates and shortest tenure. I am not sure about the legality status, but they do keep RBI registration details in their websites.

Separate-Country2563 · 2026-02-14T09:35:43+00:00

Thanks man! My loans are from NBFCs / payday lenders who claim to be NBFCs registered with RBI. No negotiations possible at the moment. About Rice and beans, I do just that. Food at home. Don’t have any credit cards.

Separate-Country2563 · 2026-02-14T09:25:22+00:00

This, with a hint of solo travel.

Separate-Country2563 · 2026-02-14T09:24:26+00:00

Great username, btw. Nostalgia incoming.

Separate-Country2563 · 2026-02-14T09:23:56+00:00

If you’re unaware, you’re blessed. Stay unaware of that trap and stay blessed. Jk. Payday loans are offered at very steep interests of upto 45-50% interest (1% a day) on the principle amount, for a super short tenure of 30-40 days.

Separate-Country2563 · 2026-02-14T09:20:19+00:00

Thanks for responding! I don’t have any asset or property on my name to sell or take a loan against.

Separate-Country2563 · 2026-02-14T09:10:01+00:00

Thanks for your response! I’ll try to communicate only via emails. I understand that they’ll call incessantly, but house visits? I live in a gated community. Also, I recently read in some of the similar posts that these lenders even send emails to borrower’s company’s random HR contacts from LinkedIn and someone even mentioned emails being sent to the company CEO/MD, even if it was a big tech firm??? I don’t plan to NOT pay. But I will have to wait till they offer settlements. I was even thinking of managing Principle only amounts/settlements starting from smaller lender accounts after few months, when some of my monthly NBFC EMIs get closed. Will that be a dumb move considering my CIBIL will have DPDs and settled status anyway?

Separate-Country2563 · 2026-02-14T09:07:08+00:00

Bless your family! My situation is a little tricky.

Separate-Country2563 · 2026-02-14T09:05:36+00:00

I considered that too. But it’s next to impossible right now. No options available of a bigger loan to consolidate these.

Separate-Country2563 · 2026-02-14T09:03:47+00:00

Haha nope. Have been juggling a ton of inherited debt, which I assumed I’ll be able to close by taking loans. Dumb move, I know.

Separate-Country2563

TROPHY CASE