New Delhi, Jan. 5 -- A sudden and unexpected job loss can result in psychological stress. It can also derail the household finances. The situation can become even more difficult, especially when a personal loan EMI is due every month. That is why borrowers must develop a well-thought-out plan and respond promptly to meet the pending EMI obligations.

Amit Bansal, Founder, BharatLoan, says, "After a job loss, borrowers should first evaluate their financial runway by reviewing savings, severance, and essential expenses. This helps determine how long loan repayments can be sustained. Reaching out to lenders early is crucial, as many are open to restructuring options such as temporary moratoriums, extended tenures, or revised repayment schedu...