Dont go to bank with this proposal and discuss this matter with them, You'll be alerting them to open their eye brows. All banks are the same after your money to recover back, no one is doing charity business to let you go scot free. Try with your friends or get money back from your country and settle your loans, go peacefully, dont go with guilty conscious for ever. Good luck.
Nano, I can't digest your idea of selling mangal sutra, it has its own sanctity in life, instead better he can work here itself.