Legal Question in Credit and Debt Law in India

debts

i am in full debts. i have no property's at all. i have taken loans,credit cards from banks. and i also took loans from private money lenders. for banks(credit cards) i am paying minimum amount due since 3 years or more. and for loans which i took from moneylenders i am paying interest more than 4 years.now, i have no source to pay.what is my position now? i am a central govt.employee. how can i be saved from these debts? is there any way to come out of these debts legally?


Asked on 3/13/09, 9:31 am

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

Re: debts

Being an employee, you may incur certain disabilities. Depending upon your job-situation, like possibility of premature retirement etc., you could consider filing for bankruptcy.

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Answered on 3/13/09, 12:36 pm


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