Personal loans, Sept. 25 -- A shocking case has come to light where two accused were arrested for taking loans and credit cards in some others' name before stopping repayments, eventually pushing victims into a whopping debt of Rs.4.3 crore.

In this bizarre case, Ahmedabad-based accused with the help of loan agent, opened several accounts in different banks and arranged for more than 24 loans and several credit cards in the names of victim and his family members.

Initially, EMIs were paid to maintain trust but later they were stopped. By mid-2025, the dues from these loans and credit cards added upto Rs.4.3 crore.

There are several money lessons we can learn from this episode.

I. Using illegitimate documents: In this case, one family ...