The MPs are likely to meet President Pranab Mukherjee on Monday.
"We have lost everything. Literally, we wanted to quit from Parliament," Rayapati Sambasiva Rao, representing Guntur Lok Sabha constituency, told PTI.
He said Seemandhra Congress MPs would meet at New Delhi to arrive at a consensus over the issue during the weekend.
Union Ministers from Seemandhra region, besides MPs, tendered their resignation to protest the creation of Telangana state by splitting Andhra Pradesh when the issue was brought up during the cabinet meeting on October 3.
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Another Parliamentarian Sabbam Hari, elected from Anakapalli constituency in coastal Andhra, claimed a letter to withdraw from parliament is under active consideration of most of the Seemandhra Congress MPs.
Claiming that a letter to this effect is being drafted, he said "it is likely to be signed by five MPs today and rest in the coming days," he said.
In the 545-member Lok Sabha, UPA enjoys the support of 281 MPs that include those of outside supporting parties against the requirement of 272. Samajwadi Party (22) and BSP (21) are among the outside supporters.