LawRato

Want insolvency my issue is described in the description


11-Dec-2023 (In Recovery Law)
Can I get insolvency for my loans and credit card dues I am not able to pay my dues my husband loat their job because of COVID and we took loan for our house expenses we live on rent and I'm a non working housewife can I apply for insolvency
Answers (1)

Answer #1
549 votes
If an individual is unable to repay their credit card debt, they can file for bankruptcy under the IBC and initiate insolvency proceedings. Also, on the other side of the coin, if you have paid the principle amount, then you have scope of not filing for insolvency and settle the matter.
Helpful? LawRato LawRato
Advocate Maaz Akhtar

Adv. Maaz Akhtar

LawRato Delhi | 100+ Answers
Chat with Advocate Maaz Akhtar Chat 

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.

Report abuse?

Connect with top Recovery lawyers for your specific legal issue
Connect with a Lawyer
Comments by Users

No Comments! Be the first one to comment.

"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."

All Answers

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.

LawRato