Consequences of not paying personal and credit card loan
11-Nov-2023 (In Banking / Finance Law)
I am not able to EMI,i took from walnut, money tap,HDFC credit card and personal loan....how to get rid of them ,i don't have money and my earnings are not sufficient to my father medication and my expenses...what to do now?
Hi. You have to file a suit before civil court to declare that you are an insolvent against the financial institutions/individuals who you owe. By doing so, the court will issue notices to the said parties and once they come before the court, they would have to prove that you are solvent and pay their dues. If they are not able to prove then the court will declare you as an insolvent and then those company/s will not be able to recover from you in future point of time also.
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