Legal Question in Banking Law in India

Hello Sir,

I,Viral Shah, recently broke down my business of stiching factory which i used to run last 5 years, due to this fall down i get into huge debts from borrowing by credit cards, auto loans,

Relatives and other private financier,

In this hectic time and depression my health also falls and my 7 year old slip disk , back back and leg pain started from last 2 months.

But still i joined insurance marketing job as for my family food n needs,

Everyday i get letters from banks and advocates notices of credit and car loan,

Even that car is taken away from me by whom i borrowed last 3 months. And my family is also having so bad that one of my UNCLE (we living in joint family) even without anyone knowledge gone away from home.

Even i couldn't able to start education for my one and only two n half year old daughter

Please help me how can i fight this situation, as i am totally helpless. And this everyday pain killing me slowly.

Viral Shah-9662518779-Ahmedabad, Gujarat


Asked on 2/18/17, 6:13 am

1 Answer from Attorneys
Fca Prashant Chavan Expert Edge LLP

19.02.2017

Dear Viral,

Face tough life situation bravely. You should compile the exact amount owed by you to each of your business creditors and try and revive your business. You may also involve your spouse to revive your business and generate some revenue from your stitching business. If business option is closed, and if your spouse has worked before, you should enc spouse should take up a job / employment so that your house can run with the income generated.

Regards,

Read more
Answered on 2/18/17, 12:23 pm


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