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What legal methods i opt if i am unable to pay my debts
27-Jun-2023 (In Banking / Finance Law)
I am a 32 year old and have been unployed since 8th months. I also had an ailment recently that needed hospitalization and with it I spent a lot of money. I am dire broke at the moment and unable to pay the EMIs of my personal loan and my credit card dues. I get calls from banks asking me to make payments even though I've told them my situation. I received a legal notice today regarding my debt. I am unable to get a job and unsure of how to go about it. Should I file for bankruptcy? Any advice would be greatly helpful!
1. Issue reply to the legal notice stating the reasons for why you could not pay the debt.
2. Since you taken credit, you are liable to pay the debt.
3. Filing for the bankruptcy need detail discussion.
2. Since you taken credit, you are liable to pay the debt.
3. Filing for the bankruptcy need detail discussion.
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