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Terms & conditions to file bankruptcy/ insolvency if have pvt lender d
21-May-2023 (In Bankruptcy / Insolvency Law)
My senior citizen mother took some loans from pvt lenders when she was in job. Now she is retired and no bank balance to get rid of her loans. The loan she took wasnt on mortgage basis. Can we file bankruptcy for her? I am her only daughter married housewife. Do I get legally liable to pay ?
We dont have any joint property nor jointly signed in for any loans.
Can’t go under Insolvency and Bankruptcy Code for individuals as yet. But the provincial insolvency act is still applicable to individuals.
If you’re not a joint owner of any property and not a surety, then bank cannot get after a kin member to make payments. contact for further details and discussion.
If you’re not a joint owner of any property and not a surety, then bank cannot get after a kin member to make payments. contact for further details and discussion.
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Adv. Shiven Varma
Delhi | 25+ Answers
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