Help Durga Prasad get free from the scary debt situation | Milaap
Help Durga Prasad get free from the scary debt situation
1%
Raised
Rs.36,810
of Rs.6,000,000
10 supporters
  • A

    Created by

    Duicy John
  • DP

    This fundraiser will benefit

    Durga Prasad

    from Bangalore, Karnataka

Hi, my name is Duicy John and I am an NIT, Calicut alumni  and am currently a homemaker.

 I know Durga Prasad through his family who were employed in our gated community.  
I'm trying to help them with 60 lakh debt from private financiers owing to a setback in their family business once they left their jobs here.

Despite having paid back Rs 40 lakh for the Rs 43 lakh principal amount taken 5 years ago, the debt has only grown to 60 lakh as the interest rates are exorbitantly high. I'm trying to raise sufficient amount to clear their debt with the private financiers as they are in desperate need for help and have reached the point where they are unable to do it with just their own effort. They are hardworking people and will be able to repay the amount collected through an interest free loan on a monthly basis.
Hence, the entire amount raised can be paid back within 8 years. That is, for every 1 lakh rupee collected, a monthly installment of Rs 1000 can be made and thus they can pay back the loan in 8 years. The efforts of four working members of this family won't be enough to pay back the interest amount they are required to pay monthly to the financiers, leave alone the principal amount. It would be amazing if you could donate to help this family through your generous contribution.
 Thank you.

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