Would like to be refunded for this trip

On October 28th at approximately 3:00am my wife and I tried to check in to Gulf Air flight number 57 with Gulf Air confirmation code: NLZILS from Mumbai, India to Boston, Ma USA. Even though prior to this day and time our international flight was confirmed and booked at this new point in time we were now informed that our flight had been over booked and we could not be checked into that flight and thus we would also miss our other 2 connecting flights. We were told our only 2 options were we could either get on a later flight that would eventually have us waiting at the London Heathrow airport for over 10 hours or the second option was to stay in Mumbai for another 24 hours. We chose to stay rather than be stuck in London. Please try to imagine our despair as we now were pretty much stranded in Mumbai. The domino effect of the problems this now created for us were insurmountable. We would now have to try and find lodging, meals, and make arrangements to now extend parking and car rental as well as childcare for our 2 children back home which in all totaled over $550.00 that we had to pay for out of our own pocket. I was further inconvenienced by the fact that I had to report to work on Saturday morning for a very important meeting that I would ultimately bill at over $150/hour thus missing out on a full days work worth over $1,200.00 and now could no longer expect to earn. We were offered a measly $75.00 compensation at the airport that frankly wasnt worth a fraction of the cost of our airline tickets of over $2,000.00 or the new out of pocket expenses and earnings lost of over $1,750.00 and furthermore would not even cover the cost of a decent hotel and meal in Mumbai.