Legal Question in Banking Law in
I have defaulted personal loan and credit cards amounting 20 Lakhs,I Have spent all money for my Kid's Medical need now oi Don't any property,Jwells(Except Mangalsutra),currently working with 25000 salary,I have intention to pay the loan,but i Have no money,what are the legal implications in my case,can i file bankruptcy now?
Asked on 12/27/10, 7:14 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
If you are employed in a bank you will loose your job if you file for bankruptcy. If not, go in for bankruptcy to settle all your debts.
Answered on 12/27/10, 6:22 pm
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