A Reddit post detailing how a man allegedly lost Rs 35 lakh borrowed from a lender in the stock market, only to see his debt rise to nearly Rs 69 lakh over five years, has triggered discussions about market losses, mounting debt and the importance of seeking legal help before financial troubles spiral out of control.
The man, who said he was based in Tamil Nadu, shared his experience on Reddit while seeking guidance on personal insolvency, debt recovery and his legal options. According to his post, he took a loan of around Rs 35 lakh in 2021 and lost the entire amount in the share market. With interest, penalties and other charges accumulating over the years, his outstanding debt reportedly increased to approximately Rs 69 lakh.
The user also said he had been laid off and remained unemployed for more than a year, leaving him without an income to repay the loan.
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"I know almost nothing about legal or insolvency matters, so please bear with me and feel free to explain things simply," he wrote, seeking advice from fellow Reddit users.