Huge debts…Cheque Bounces…am I eligible for a Loan?

I have a very bad credit records for various reasons. Currently, I have loans amounting to Rs. 15, 00, 000, in spite of the fact that my wife and I earn pretty well.

These debts have accumulated as a result of excessive expenditure towards education of my children and other contingencies. I also have a history of cheque bounces on my account.

My weak financial situation will last for another two years, till the completion of the education of my 2 children who are undergoing their 5th semester (of an eight-semester course) in Engineering. Once my children are through with their course, I may be able to save some money, even if we don’t get any financial support from them. I am also willing to ensure full security of bank loan in case of my death or retirement as a normal course.

I am a salaried individual with 7 years of service pending before retirement. Will there be a bank willing to lend me? The situation I am in was unavoidable; will this mean that I can’t get a loan ever? Can I get some sort of a loan with an option to pay of the loan within 10-20 years. I can afford to pay an EMI of Rs. 17, 000 per month.

Personal Loan City

Personal Loan Banks

Personal Loans Guide

Personal Loan in Mumbai SBI Personal Loan Personal Loan Interest Rates
Personal Loan in Pune HDFC Personal Loan Compare Personal Loan
Personal Loan in Hyderabad ICICI Bank Personal Loan Personal Loan Eligibility
Personal Loan in Kolkata IDBI Personal Loan Personal Loan Process
Fullerton Personal Loan Personal Loan EMI
Axis Bank Personal Loan Personal Loan Documents
Bajaj Personal Loan Personal Loan Compare
Axis Bank Personal Loan
Aditya Birla Personal Loan