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VINOD VARMA   15 September 2019

Liability of debts

I have taken loan from others
for that I have no money and property
is my father is liabal for my debts?


Learning

 1 Replies

Abhishek Das   27 September 2019

your ather is not liable for your debts unless until he is a party to the loan or a gurantor 

below are the links regarding insovency and payment of debts and liability of debts

https://blog.ipleaders.in/what-happens-when-a-person-cannot-pay-his-debts-and-becomes-bankrupt-or-insolvent/

https://www.nolo.com/legal-encyclopedia/business-debts-personal-liability-29905.html


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