Default in credit card & personal loan

A (Querist) 08 June 2009 This query is : Resolved
I have taken personal loans & having outstanding on credit cards total amounting to nearly 15 lacs. Now from the last three months i am unable to pay off my debts due to losses in business. Now i dont have any income to off these. Please tell me whether I can file for Bankruptcy or insolvency & what is the procedure for the same. I also want to know where should i approach for the same as i dont have any money to pay the lawyers fees even.

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Y V Vishweshwar Rao (Expert) 08 June 2009
In Your Place/place of Business , there is a Legal Services Authority , You can appraoch the Legal Services Authority and submit your problem and request the LSA to Help you . The LSA will help you , the case will be allotted to an Advocate to Assist you, to initiated the required legal proceedigns -according to your case details.

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