• Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.

URGENT..NEED HELP..My friend attempted suicide due to multiple LOANS thru APPS

Apply For Lifetime Free IDFC First Credit Card
R

rajcasio

TF Premier
My friend attempted suicide due to multiple LOANS(5 Lakhs+) from app.
I want to know which of these following apps are registered with RBI.
I also want to know which APPS should i give more priority to pay FIRST and which one to avoid(if possible) paying the overdue.
Branch
Kreditbee
True Balance
Kissht
Tradofina
Ring
Stashfin
RupeeRedee
Navi
InstaNova
PayRupik
 
Apply For LTF AU LIT Credit Card
Sort by date Sort by votes
MOhit __ said:


Watch this full video, I hope this will help.
Click to expand...

Such a horrific tragedy. Digital lending, especially mobile lending is turning out to be a net drain day by day. If only RBI had the access to Chinese market data and how their p2p and mobile first digital lending platforms led to a bubble and many suicides before the government decided that the positives are not really worth it.

RBI at the very least should make it so that a digital lending platform can't have a mobile app associated with the company, most of the harassment comes from these loan apps getting access to private data on a mobile.
 
Upvote 0 Downvote
Pankhuri said:
Such a horrific tragedy. Digital lending, especially mobile lending is turning out to be a net drain day by day. If only RBI had the access to Chinese market data and how their p2p and mobile first digital lending platforms led to a bubble and many suicides before the government decided that the positives are not really worth it.

RBI at the very least should make it so that a digital lending platform can't have a mobile app associated with the company, most of the harassment comes from these loan apps getting access to private data on a mobile.
Click to expand...
Yeah, borrowing money is not a bad thing. Being stupid about that and not doing proper RnD, that is bad.
No offence to OPs friend.
 
Upvote 0 Downvote
rajcasio said:
My friend attempted suicide due to multiple LOANS(5 Lakhs+) from app.
I want to know which of these following apps are registered with RBI.
I also want to know which APPS should i give more priority to pay FIRST and which one to avoid(if possible) paying the overdue.
Branch
Kreditbee
True Balance
Kissht
Tradofina
Ring
Stashfin
RupeeRedee
Navi
InstaNova
PayRupik
Click to expand...
Considering what's done is done. First step is to sit down and calculate how much total money needs to be repaid.
At this point, also need to check the Credit Score. If that person has been paying some dues and circulating money, then credit score would not have taken a toll because that's important for next step.
Next step is to aggregate that and take a loan from a Full Service bank. Calculate how much amount is needed to fully close these NBFC loans and take that from a proper bank. Get back on track. There is no way to magically generate money, but the best way here is to restructure and plan things out for future.
Next, if the Credit Score has taken a hit or the total due is too high, that person will have to give some collateral. Here, very close family can come to help. Yes, ofcourse there will be hard discussions. But in the long run, it will be helpful.

Lastly, it's okay to make mistakes, it's the way of how we deal with them is what defines us. Be smart financially.
 
Upvote 0 Downvote
aayusharyan said:
Considering what's done is done. First step is to sit down and calculate how much total money needs to be repaid.
At this point, also need to check the Credit Score. If that person has been paying some dues and circulating money, then credit score would not have taken a toll because that's important for next step.
Next step is to aggregate that and take a loan from a Full Service bank. Calculate how much amount is needed to fully close these NBFC loans and take that from a proper bank. Get back on track. There is no way to magically generate money, but the best way here is to restructure and plan things out for future.
Next, if the Credit Score has taken a hit or the total due is too high, that person will have to give some collateral. Here, very close family can come to help. Yes, ofcourse there will be hard discussions. But in the long run, it will be helpful.

Lastly, it's okay to make mistakes, it's the way of how we deal with them is what defines us. Be smart financially.
Click to expand...
Thats why asked to share details .lets see
 
Upvote 0 Downvote
I understand it's a bit serious situation but as @DocFixIt says.
22440.jpg


Your life is way way more valuable than all these things.
 
Upvote 0 Downvote
aayusharyan said:
I understand it's a bit serious situation but as @DocFixIt says.
22440.jpg


Your life is way way more valuable than all these things.
Click to expand...
When my whole country can run on begging money..this guy's friend thought he had it enough . please send him to my country. We will Teach him . How to live in debt and Still Walk like world owe me 🌍😂
 
Upvote 0 Downvote
Ask him or anyone who can help to get total debt as personal loan (or lend privately as amount is not big) and square off all this .... he can pay off in time with less interest rate

If any of the current lenders are charging/creating too much for foreclosure reach out to RBI with this situation
 
Upvote 0 Downvote
I have see this very closely, with a person.

Since you did not mention why he couldn't pay back the dues, I assume it's because of bad financial decision, or a stop in the source of income.

Since these are mostly NBFC's, they will go over any beyond to harass the individual for recovery. Most Banks will do it to, but they know where the boundary line is.

A thing to remember is that your friend will have to pay back the dues, not today, not tomorrow but he'll have to make the payment someday.

A recovery agent told me once, he doesn't like what he does, but the only way some people make the payment is if they force them to. Which is wrong, but it's the truth.

Do not let their words get into his head, think calmly, talk with the company and as him to explain his situation and willingness to pay.

If he cannot pay the full amount they'll eventually offer him to pay a little less and close this account, which is a settlement.

Life is not always about money, sometimes we have to look beyond the realm, it's not worth ending one's life for any amount of money. We all make mistakes, nobody is perfect.

I believe you should ask your friend to think about this logically than being emotional.
 
Upvote 0 Downvote
0xShailesh said:
I have see this very closely, with a person.

Since you did not mention why he couldn't pay back the dues, I assume it's because of bad financial decision, or a stop in the source of income.

Since these are mostly NBFC's, they will go over any beyond to harass the individual for recovery. Most Banks will do it to, but they know where the boundary line is.

A thing to remember is that your friend will have to pay back the dues, not today, not tomorrow but he'll have to make the payment someday.

A recovery agent told me once, he doesn't like what he does, but the only way some people make the payment is if they force them to. Which is wrong, but it's the truth.

Do not let their words get into his head, think calmly, talk with the company and as him to explain his situation and willingness to pay.

If he cannot pay the full amount they'll eventually offer him to pay a little less and close this account, which is a settlement.

Life is not always about money, sometimes we have to look beyond the realm, it's not worth ending one's life for any amount of money. We all make mistakes, nobody is perfect.

I believe you should ask your friend to think about this logically than being emotional.
Click to expand...
We can keep saying ..no one's listening 🎧😉
His friend got missing
 
Upvote 0 Downvote
OP asked advice on this --
"
I want to know which of these following apps are registered with RBI.
I also want to know which APPS should i give more priority to pay FIRST and which one to avoid(if possible) paying the overdue.
"

And this is the only genune direct answer given by @Tejo i can see on the thread

Tejo said:
Navi, Kissht Are direct nbfc's

Remaining indirectly linked to nbfc's
Click to expand...
Why unnecessarily discuss the topic to point out the wrongdoings (assumptions) of the OP's friend. Its easy to give advice on registering FIRs, booking lawyers etc.
 
Upvote 0 Downvote
The india of today will take debt to buy things they dont need to impress people on social media who have 0 care for you

Debt lega and doobega. Gng the USA way . That is what card companies want . Slowly change habits and get hooked to 20% interest rate
 
Upvote 0 Downvote
rajcasio said:
Update - My friend still in hospital but recovering fast 👍 . Their family ready to pay (actually they dont have that amount of money) the amount on behalf of him and contact the lenders by waiving the interest and pay all like a settlement.
Click to expand...
Hope he recovers soon .
If you get complete information of what all type & amount . Do let us know .
 
Upvote 0 Downvote
You must log in or register to reply here.
Back
Top