Legal Question in Bankruptcy in India

sir as i said i have no source of income if i could i would as now i depend on my parents and i have two kids trying hard to get a job but no luck will able to tell me home it will cost declare bankruptcy as for this case as i owe different credit companies not one with interest its a huge money even in ten years i cant pay.


Asked on 10/28/11, 10:01 am

1 Answer from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Mere declaring bankruptcy by you may not be sufficient; You need a court order declaring your bankruptcy. If you are found in possession of assets not declared in your application, you may suffer criminal prosecution.

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Answered on 10/28/11, 11:13 pm


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