Private Money Lender Harassment charging 8% interest per month

2 years ago

I borrowed 1 Lakh for 8% interest from a known person on April 2019. He said he is getting money from his personal lender to give me just to look he is not involved - it was lie as per my view.
I understand 8% interest is too much and i borrowed it to control the torture from credit card banks like SBI and HDFC. I started a business during those time and i was struggling to pay the interest every month. I thought i can able to pay back sooner but i can't able to. Total sum of 56000/- rupees have been paid to this guy till date. After sometime i am unable to pay until now. So he made some decision and told me to settle the value by last april 2021 with the sum of 1.6 lakhs plus i borrowed 33k here and then to pay of my other debts so totally he says i owe 1,93,000 + principle 1 lakh. And he is torturing me to the core and harassing with bad words. Even i got the business order but it got delayed so im unable to repay him.

Now i am telling him that i will go to the job and pay you in few months but he is forcing me to pay at any cost with in a week, which i cant, i have struggling family. Still credit card debt isn't over, because of credit card default i end up getting money from others and this interest based loan is my first time, i never took a loan in my life. Please advice what should i do and how should i move forward with this. Please advice i understand i made one of the foolish mistake because of other debts now im stuck with this extreme condition.