Legal Question in Credit and Debt Law in India

Hi, my father died in an accident 5 years ago and we have some liabilities to be paid to govt. banks. If we are in no position to pay those debts what are the consequencies. My uncles are playing smart and are able to provide the creditors with our bank balance amounts.


Asked on 9/04/13, 6:45 am

3 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

04.09.2013

Dear Sir / Madam,

As the legal heir(s), you will need to settle and clear all your deceased father's debts and liabilities.

Regards,

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Answered on 9/04/13, 8:37 am
KarVai Legal Solutions Rajiv Gupta 9811284735 Ch.No: 359, Western Wing, Tis Hazari, Delhi www.karvai.in

you need to consult a lawyer in person and take charge of assets of your deceased father.

Thanks and Regards

Adv. Rajiv

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Answered on 9/04/13, 8:42 am
Jayesh Desai Jayesh Desai

Your liability is limited to the value of assets you received from your father and not beyond that.

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Answered on 9/07/13, 6:53 am


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