need advice

Querist : Anonymous (Querist) 26 October 2010 This query is : Resolved
sir, iam running business for that i borrowed money from moneylenders and daily finance now i am unable to pay the can i put insolvency petetion. i am ready to pay thaire money in installments but i cannot pay the interest.plz give advice

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Devajyoti Barman (Expert) 26 October 2010
Since you have already initiated Insolvency proceeding , you can either proceed with it or settle with the creditors. We certainly can not help you make the payments.

DEFENSE ADVOCATE.-firmaction@g (Expert) 26 October 2010
Payment to money lenders depends on personal relations. legally they can not do any thing.

Khaleel Ahmed Mohammed (Expert) 26 October 2010
If you bacame totally unable to pay your creditors, and your present assets are less than your liabilities, you can file IP before court immediately.In future you may loose your reputation in your business society.

SAANJAAY GUPTAA (Expert) 27 October 2010
Agree with Mr.Shashi Kumar

s.subramanian (Expert) 30 October 2010
I agree.

s.subramanian (Expert) 30 October 2010
In the Insolvency proceedings you can seek police protection also for yourself and your family.

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