Page 13 - Singledebt

PDP case study 3 from Mumbai. (Stopped harassment, restructured
a loan & moratorium period) – Trevor M. (Due to confidentiality, we
have not provided their photos, name or the name of their
business.)

A 48-year-old living in Mumbai had connected us because
he was experiencing excessive harassment from his
creditors with whom he had missed more than two EMI

with each of his eight creditors.

He has debts of ₹24,32,757 and his total EMI was ₹76,559
per months, for three credit cards and five personal loans.
He earns ₹79,750 per month and currently has
expenditure of ₹44,750 per month. He also had another
income coming from investments, but due to the
downturn in the market he lost all his investment and the
income from it and started experiencing difficulties
servicing his EMIs.

He was enrolled onto the PDP, with a debt payment plan
of ₹35,000 per month towards all his creditors. With the
help of our Advocates we were able to stop the
harassment and restructure one of his personal loan plus
win four months moratorium period (EMI holiday). The
restructured loans’ term was increased and hence the
EMI was reduced by 30%, which he will have to start

paying after the four months moratorium period and it
was also agreed that the interest rate would stay fixed
over the term of the loan.