Need help to come out of debt
4 years ago
My case is a bit complicated and need immediate help. I have 4 running personal loans from banks and NBFC's. Now I am in no position to pay off the EMI's, I tried to settle these loans but even could not pay that amount. SO is there a way to come out of this situation can I file for bankruptcy as an individual? Please help me with some options.
Sayaree Ganguly
Responded 4 years ago
A.Dear Client,
If you are unable to pay your debts, you can file a suit under the insolvency and bankruptcy code and get rid of such situation.
Thanks.
If you are unable to pay your debts, you can file a suit under the insolvency and bankruptcy code and get rid of such situation.
Thanks.
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A.Dear Sir,
You can file insolvency petition under Section 10 of Insolvency Act.
Thanks.
You can file insolvency petition under Section 10 of Insolvency Act.
Thanks.
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Shreyash Mohta
Responded 4 years ago
A.Yes,
You can file a bankruptcy and Insolvency suit and also declare yourself to be insolvent.
You shall need to prove the same and if the court passes the judgement in your favor then in all likelihood you shall be free of such mess.
Thanks
Adv. Shreyash Mohta
You can file a bankruptcy and Insolvency suit and also declare yourself to be insolvent.
You shall need to prove the same and if the court passes the judgement in your favor then in all likelihood you shall be free of such mess.
Thanks
Adv. Shreyash Mohta
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