I took a loan from ICICI in 2006 of Rs.92000 at the age of 20, i paid back for 1.5yrs and then lost my job, so was unable to continue to pay. Collection agents started calling and abusing and treathing me so i changed my no. now after 3yrs ICICI has contaced me and they say that i can settle the loan. They say that the principal is 54000, however i can settle the loan by paying 39000 in three installments. but as i'm the only one working and i stay on rent, i am not able to pay it in three installments, i asked them if i can pay in 6-7 installments they say no, in that case i'll have to pay somewhere about 94000, which is the principal and fine as well. i want to pay back the loan but i can't pay it in three installments and in the other way 94000 is too much. Please help me what should i do. if a have to pay the settlement amount i can pay 5000 a month for 8months. please help me.
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