Can we ask Gold Loan vendor to sell the gold ?

My family took a Gold Loan from Muthoot Finance and we are unable to pay it back now. We were in a HUGE debt, sold our house, now living on rent. Almost all the debts are now paid off except this. The loan amount is around 6L and according to the app, the gold value currently is 8.5L. I know it is stupid to let go of the extra money but we genuinely have no means to pay off that loan. We want to start afresh with zero debt.

What can we do in this situation ?