How To File For Bankruptcy When You're Unable To Pay Loans?

I work as freelancer and take plumbing contracts and civil works i have taken two credit cards one from SBI and other from Standard charted i have been using both the cards and also being paying the dues regularly but from past 3-4 months i am unable to pay the minimum due also due to my bad financial conditions as i am unable to get any contracts or works even smaller ones. However, due to this, the banks are harassing me to pay my dues or they will send their recovery agents to my house. I have no assets apart from my two-wheeler which is also being taken from the loan. Can you please advice me how do I file for bankruptcy for both my credit cards?

Answer (1)

Team Legistify

  • Sector-1, Noida

You can file an application with the civil court to declare you insolvent. You need to submit the proof that you have no assets to repay your debts and must be declared insolvent.

Answered on 20 Oct 2019

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