Legal Question in Bankruptcy in United Kingdom

debt trap

I am doctor and had taken a debt,to repay that debt i had to take another debt.Also i have loans trough credit cards and all.i do not have other assets to repay the loan and hence i am trapped in a debt trap. what are the legal provisions to save me from such trap because i do want to pay my loan?


Asked on 9/02/08, 6:08 am

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

Re: debt trap

You will have to pay, if you have the capacity to pay. Otherwise, you will need to declare bankruptcy.

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Answered on 9/02/08, 10:46 am


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