i have incurred heavy financial losses due to business and also due to personal problems to the tune of 70 lakhs and am unable to pay back the banks and private financiars. i am considering filing for insolvency. however my wife is a central government employee. She has also taken loans to support me and her remaining salary is just sufficient to support the family. Can i file for insolvency when my wife is still holding her job. i do not have any assets on my name or her name. Otherwise what can be done in this case. kindly suggest
