Debt Ridden Businessman along with family commits suicide in Sonari

Sonari: A shocking incident came to light on Wednesday after four members in a family allegedly committed suicide by jumping into Taukak river in Sonari under Charaideo District.

Worried over repayment of the loans which they had allegedly taken from Bandhan Bank, Arohan Bank among other financial companies, the family finally decided to take this painful step.

As per reports, Pradip Paul, Sangeeta Paul and Abhik Paul lost their lives as soon as they jump off the river. On the other hand, Ispita Paul the younger daughter was rescued by the local people and the NDRF team.

It may be mentioned that the Pradip Paul and family were the residents of Timan Rangabam village in Charaideo District. He was a self employed businessman who used to sell Pan, Tambul (betel nuts), etc in the area since the past few years.

Reports also claim that the family members were worried as they frequently received the loan repayment notice from the banks, however, failed to pay the loans on time.

This incident had left the entire region under shock.

How to Manage Debt of Any Size

Make a list of your debts, including the creditor, total amount of the debt, monthly payment, and due date. You can use your credit report to confirm the debts on your list. Having all the debts in front of you will allow you to see the bigger picture and stay aware of your complete debt picture.

Don't just create your list and forget about it. Refer to your debt list periodically, especially as you pay bills. Update your list every few months as the number of your debt changes.

Pay Your Bills on Time Each Month

Late payments make it harder to pay off your debt since you’ll have to pay a late fee for every payment you miss. If you miss two payments in a row and your interest rate and finance charges will increase.

If you use a calendaring system on your computer or smartphone, enter your payments there and set an alert to remind you several days before your payment is due. If you miss a payment, don’t wait until the next due date to send your payment, by then it could be reported to a credit bureau. Instead, send your payment as soon as you remember to.

Also Read: Farmer Suicides Have Fallen In Five Years: Rajnath Singh