These resources should be made widely accessible, with a focus on vulnerable communities that are most at risk of falling into debt.
The petition seeks to protect individuals trapped in unmanageable debt by
• Advocating for a national movement to support individuals trapped in unmanageable debt.
• Propose a structured debt management program to reduce debt burdens based on the individual’s financial capacity.
• Stop harassment, collection calls and legal actions
This program would involve
• Writing off a fair percentage of the debt
• Restructuring the remaining balance debt according to the individual’s affordability
• Call for stronger regulations to prevent irresponsible lending practices that contribute to the debt trap in India.
• Millions in India face crushing debt from high-interest loans and credit card obligations.
• Lack of accessible debt management options perpetuates poverty cycles with financial and mental stress.
India urgently needs this type of program to support its citizens and the growth potential of the backbone of our economy – individuals and MSMEs
Call to Action
We call on the Indian government, the Reserve Bank of India, and financial institutions to take immediate action to address the debt crisis in India.
By signing this petition, you are supporting a movement to protect individuals from the devastating impact of debt crisis with financial and mental hardship. Together, we can call for a fairer and more supportive financial system for everyone, building an economically stable Indian economy.
It’s Time To Breathe Again!
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SingleDebt specializes in effective debt management solutions, helping individuals and businesses reduce their debt and regain financial stability.
