Stories
Laid-off Techie Grapples with Rs 30 Lakh Loan, Ageing Parents, and Job Uncertainty
M
Moneycontrol•05-10-2026, 11:47
Laid-off Techie Grapples with Rs 30 Lakh Loan, Ageing Parents, and Job Uncertainty
- •A recently laid-off engineer shared his financial struggles on Reddit, facing a Rs 30 lakh family loan for house construction and fearing telling his parents.
- •The engineer, who repaid Rs 3 lakh over the past year, is now unsure how to continue repayments after losing his job.
- •His family's financial situation is precarious, with his mother working despite a severe health issue and his father, in his 60s, earning Rs 17,000.
- •The job loss has intensified his anxiety about finding new employment in a challenging market and conveying the news to his parents.
- •The Reddit post sparked discussions on the risks of large loans without a strong income cushion and the need for financial caution amid job insecurity.
Key Questions Answered
The engineer's family took a Rs 30 lakh loan with a six-year tenure to construct their house, and after paying off about Rs 3 lakh over the past year, the techie was laid off and is now unable to figure out how to continue the repayments.
The techie's father is in his 60s and earns up to Rs 17,000 monthly, leaving uncertainty about his job security, while his mother continues to work despite dealing with a severe health issue because she earns more than others in the household.
Other community members advised the engineer to concentrate on securing a new job, talk to the bank to request extra time for the upcoming EMI payment, and educate family members about shifting market conditions and the risks of large loans.
