procedure to file Insolvency

Without assets you cannot apply for insolvency.

You can involvancy petition just on simple plain paperstating that you have no property and state your dues and ask for legal aid for court.

While recovery of civil dues will stop but criminal cases of NI 138 will go on.

what is the remedy for my situation,will anybody give me a proper guidance for my problems ?

 Consult a local lawyer who can do the needful.

can goverment employee apply for insolvency

Here is the answer :

https://www.lawyersclubindia.com/forum/Insolvency-Petition-5783.asp

Originally Posted By Gundlapallis,advocate,https://www.lawyersclubindia.com/forum/Insolvency-Petition-5783.asp?1=1&offset=2

If you choose to file an Insovency petition the official receiver will come into picture and take over the house auction it and settle all your debts on prorata basis - and you will be declared as an insolvent if the auction sale of the said house does not meet the existing loans fully, there ends your liability towards your loans.  But on your house the bank that had advanced housing loan will have its first charge and only after complete fulfilment of the outstanding housing loan debt the residue if any will be distributed to other creditors.   If your wife has her own income and she can prove that she too had contributed for purchase of house, even then since one of the joint owners have filed an IP the receiver can give her n option to buy you out.

I have credit card dues of Rs 300,000/- and i am unable to pay the dues for the last 3 months. Till that time i was paying off the minimum due with high interest charges thinking of paying it off completely. But i got trapped in the recurring interest charges. But genuinely, i am now not able to pay off the dues due to my son got hospitalized 3 times in 4 months, which took away my whole savings and investments. Post hospitalization, I have to shell out nearly Rs 2000/- daily for his therapy and other medicines which takes away my whole salary. I have been now threatened to pay or face legal action. Please suggest if i file for Insolvency, what will be the minimum cost and time for this procedure. If i am declared insolvent, will there be any attachment of my family properties.