Legal Question in Bankruptcy in India
Personal Loan and Credit Card
Im facing a similar situation as most others in India. I have personal loan and CC debt amounting to Rs. 8lakhs. I lost my job and am unable to pay the amount. I have to pay Rs. 40,000/- each month. How much will it cost me to file for bankruptcy and can I file for bankruptcy only if there is a warrant against my name.
Asked on 6/09/09, 9:05 am
1 Answer from Attorneys
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
Re: Personal Loan and Credit Card
(1) You may file bankruptcy without waiting for any action by the banks/creditors.
(2) The litigation expense is very nominal. However, lawyer's fee may depend upon the place and the lawyer you choose.
Answered on 6/10/09, 3:48 am
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