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Unable to pay personal loan and credit card bills. Can I file IP?


08-Jun-2024 (In Recovery Law)
I’m still working, having personal loans close to 60L, credit cards 15L and hand loans 20L. All my monthly sal 1.2L will go towards EMI. No money for paying credit cards, hand loans and family living. Can I file an IP? I have no assets on my name too
Answers (2)

Answer #1
799 votes
Ip will be filed by people who don't have earnings and who don't have the capacity to pay Emis , I can file a suit for credit card and personal loan emi payments that you can't pay now and we need one year to year time and I will get the order within a week , approach us we will help you
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Advocate Rajkiran Govindcar

Adv. Rajkiran Govindcar

LawRato Hyderabad | 700+ Answers
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Answer #2
644 votes
If you are unable to pay for personal loan EMI and credit card payments and if any recovery agents and bank officials are pressuring you then we can file a case in court and we take relief from the personal loan emi and credit card payments from court approach us we can help you in getting relief from bank officials and recovery agent But insolvency is not possible for bank loans because but you can file injunction suit
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Advocate Venkatesh Swamy

Adv. Venkatesh Swamy

LawRatoHyderabad | 25+ Answers
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