Dear Sirs

I am staying with my mother who is elderly. We have been going through a financial crisis. We have had to sell off our flat and now we are staying in a rented house. We took too many loans, housing loans, personal loans and credit card loans to run our business. The business went into severe losses, we were cheated by our staff and the situation became so bad we had to sell the house to just get some money in hand. Luckily, our relatives helped us out financially as well as morally. We did a settlement of some of the loans but there are still a number of loans pending. We want to pay it off, but since finances are low, we are delaying it. In the meanwhile, we have changed our numbers to avoid harassment. But now the bank authorities have got our numbers and are ringing us up one by one. We keep denying that we have taking a loan, not because we dont want to pay it, but because we dont have enough funds at present. If we accept that we have taken the loans also it wouldnt make a difference. They would still harass us till we paid off. Our business is doing just well enough for us to sustain our daily expenses.

Please let us know how we can handle this situation.