Legal Question in Bankruptcy in India

i have debt of 40000 (20,000 each) dirham of two bank in uae, its credicard loan an dpersonal loan. ta prsent i am in india, they are threatning to file case in india.what is my option, i cannot pay amount due to indian salary is less compared to dubai and i have to maintain family and kids

what shoud i do? what is indian law about debt default overseas


Asked on 4/15/12, 11:59 am

1 Answer from Attorneys

ranganathan raghavachari R.Ranganathan & Associates

Debt is a debt. You have to pay it but you have options in the method of payment. You tell them that you can pay in instalments only.

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Answered on 4/28/12, 8:58 am

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