A sudden and unexpected job loss can result in psychological stress. The situation can become even more difficult, especially when a personal loan EMI is due every month. Amit Bansal, Founder, BharatLoan, says, “After a job loss, borrowers should first evaluate their financial runway by reviewing savings, severance, and essential expenses. Focus on unavoidable expenses, such as rent, utilities, and personal loan EMIs . That is why planning early, communicating clearly with lending institutions and replanning budgets accordingly are essentials to navigate a job loss without compounding financial risk.

Source: Mint January 05, 2026 16:14 UTC