Insolvency & bankruptcy
Querist :
Anonymous
(Querist) 20 February 2021
This query is : Resolved
Respected Sir, i am an individual from bangalore. I lost my job 3 months ago, i have no assets. Due to this i couldn't pay my credit card dues, personal loan emi's. I filed insolvency petition in court against banks. I am getting legal notice from banks. Please suggest me what is gonna happen. Should i be worried about imprisonment?? Will this be considered as criminal case or cheating?? I am unable to bare this mental pressure.
Guest
(Expert) 20 February 2021
You should mention all your Liabilities including the Bank Out Standings in the Insolvency Petition. Discuss with your Advocate. Once you had Exposed and Exhibited every thing in the Petition there could be nothing much to worry.
Querist :
Anonymous
(Querist) 20 February 2021
Respected sir, liability details have been mentioned in the petition. Do i have to reply to the legal notices which are being sent to me from banks?? Thanks a ton for your response sir.
Querist :
Anonymous
(Querist) 20 February 2021
Respected sir, liability details have been mentioned in the petition. Do i have to reply to the legal notices which are being sent to me from banks?? Thanks a ton for your response sir.
Querist :
Anonymous
(Querist) 20 February 2021
Respected sir, liability details have been mentioned in the petition. Do i have to reply to the legal notices which are being sent to me from banks?? Thanks a ton for your response sir.
Querist :
Anonymous
(Querist) 20 February 2021
Respected sir, liability details have been mentioned in the petition. Do i have to reply to the legal notices which are being sent to me from banks?? Thanks a ton for your response sir.
Guest
(Expert) 20 February 2021
First Stop Repeatedly Posting . Once you had filed the Insolvency Petition you should not Operate any Cheque or issue any Cheque Or Post Dated cheque for any Reason. Regarding the Legal Notice received Better discuss it with your Advocate who had filed your Insolvency Petition and he would handle and take care. and better you your self do not attempt any thing on your own.
Querist :
Anonymous
(Querist) 20 February 2021
Sorry for the inconvenience sir, that was due to network issue. Thanks a ton for your time and valuable suggestions.
Guest
(Expert) 20 February 2021
Welcome and Take care
