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Procedure Of Filing Bankruptcy
10-Aug-2023 (In Bankruptcy / Insolvency Law)
Can bankruptcy be filed for around 3 Lack credit card debt and what is the procedure of that. What can be the fees.
Credit card is only a mode of payment, and so irrespective of it, bankruptcy can be filed. Procedure depends upon the facts and evidence involved. The point is that the transaction ought to be clear and certain, and not vague or disputed.
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If you are unable to repay your loans and have debts of more than Rs. Five Hundred, you can file for bankruptcy in Court. You can apply for a stay against all recovery proceedings by your creditors. Further and better particulars are needed for an effective opinion.
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Adv. Tushar Kumar
Delhi | 200+ Answers
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