Bankrupt - financially bankrupt Bankrupt - financially bankrupt

1 year ago

I am financially bankrupt. I have personal loan which I am unable to pay. I tried various ways to keep paying it but now I am in deep mental stress. How can I declare my self bankrupt legally?

Anik

Responded 1 year ago

View All Answers
A.Hello Sir,
There can be a potential legal action against you in this regard. Please consult an expert of this particular field with more details.
Helpful
Helpful
Share

Post Your Matter Post Your Matter

Talk to a Lawyer Talk to a Lawyer

Ask a question Ask a question

Vidhi Samaadhaan Vidhi Samaadhaan

Abhimanyu Shandilya

Responded 1 year ago

View All Answers
A.Dear client
There is no way you can declare yourself as bankrupt since the individual bankruptcy laws are still under formulation.
You can declared yourself a pauper through a court procedure
Helpful
Helpful
Share

Post Your Matter Post Your Matter

Talk to a Lawyer Talk to a Lawyer

Ask a question Ask a question

Vidhi Samaadhaan Vidhi Samaadhaan

Read Related Answers

question iconRepayment of loans and credit cards
Dear Client, Under the Provincial Insolvency Act, 1920 (which is now repealed as IBC Code 2016), you can file for bankruptcy if you are unable to repay a debt greater than ₹500. After analyzing wheth...
question iconMultiple unsecured loan defaults
Dear Client, Once a borrower fails to repay his debt, the Lenders/FIs initiate a routine course of action for recovery of the loan/debt from the borrower following the provision under the SARFAESI Ac...
question iconUnfreeze
Dear Client, Once a cybercrime scam or fraudulent transaction is reported online to the National Cyber Crime Reporting Portal(NCCRP), on the instruction of the Cyber Crime Cell, the investigating tea...
question iconFor bank loan
Dear Client, the loan amount must be repaid by the legal heirs of the deceased or the nominee by the deceased if the assets would be frozen by the bank. there is no other legal remedy to non payment
question iconBankruptcy and Debt
Dear sir, You may join any reputed NGO and render your personal service where you can get at least free accommodation and boarding.