Legal Question in Credit and Debt Law in India

i have moved from mumbai to gurgaon and joined a company which is owned by my bf now he says he doesnt have money and I know he doesnt and he is looking for a loan to run his company, i have not received my salary since the last 2 months and I have bank loans of 25k per month and hence now with no salary i am unable to pay my loans and hence the banks are after me, my bf and i are breaking up and fighting all the time. I want to come home and find myself another job however i dont know what to do till then as the banks are after me, should or can i claim for bankruptcy, please advise, i am so distressed i sometimes fell i should kill myself and everything will be over.


Asked on 11/10/10, 2:28 am

2 Answers from Attorneys
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

there is no need to get afraid of the situation. you may contact the bank officials and seek settlement. in case you left with no money to pay, you go back to your hometown and start afresh. let the banks file a suit for recovery and for that you may hire a lawyer.

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Answered on 11/10/10, 4:13 am
Vishwa Arya Arya & Co.

your best bet first is to not get stress for the bank situation. Bank, for worst, can file suit for recovery which can be even contested to gain time till you are ready to pay them back. It is better to move back from Gurgaon to Mumbai and look for another job and get settled asap rather than fighting with bf. Do not act like a coward by thinking of killing yourself. this problem is not even a problem. Have faith in God. Every thing will be alright. It is just a matter of time.

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Answered on 11/10/10, 7:26 am


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