Legal Question in Credit and Debt Law in India

I have a financial probelm due to which i am not able to pay my emi's. I came to know that when we file insolvency, i will get some reflief from bank. is this true and how effctive is this to help me. Will i have any other problems. or is their any other way to take help from Law to solve my bank issues as i am bankrupt now.


Asked on 5/05/10, 8:46 pm

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

If you have given cheques to meet your liabilities which are bounced, Insolvency may not absolve you from resultant criminal liability.

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Answered on 5/09/10, 2:25 am


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