Riyality

Cousin lost 70k to a finflunecer

I have a cousin who works at a private equity firm earning 80,000 per month in Mumbai. As soon as he started earning, he believed he was a legit guy, but as he started investing, he started losing money, as the majority of his suggestions were flops, and he even got credit card debts to invest in stocks and spent 2L repaying his loans and just faced a layoff, ending up laid off. Literally, he has zero savings and a bank account, and he has credit card bills due next week as he invested in bitcoin based on. Literally, advice. What can he do?

5mo ago3.7K views

Gooner7

Goldman Sachs5mo

Seems like it was Alshat Shrivastava or PR Sundar lol

Riyality

Stealth5mo

Sharan

steppenwolf

Stealth5mo

That sharan guy is giving stock tips ? like short term trading tips ? was it options or equity ?

WoefulSill3

Wipro5mo

What happens if you default on your loan?

steppenwolf

Stealth5mo

Your cibil score would take a hit and you will face a lot of difficulty if you want credit in future from the banks.

WoefulSill3

Wipro5mo

But he won't be jailed right? Any legal trouble?

ElonMast

Amazon5mo

It’s a good thing, we should have such examples for people to learn about money through better channels.

Riyality

Stealth5mo

Yes

steppenwolf

Stealth5mo

Borrow money from friends or family, keep paying EMIs don't default on them. Look out for the next job and after securing 1, consolidate all the debt into 1 personal loan.