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Provincial insolvency

Querist : Anonymous (Querist) 23 October 2011 This query is : Resolved 
I have large debts which cannot be earned and paid by me due to debts even my business is collapsed can i file insolvency or fight in the court the cases that my debtors will file. pls advise what is a better option as i do not own anything on my name
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Raj Kumar Makkad (Expert) 23 October 2011
It is better to be insolvent rather defending each and every civil, criminal and 'personal' cases.
Devajyoti Barman (Expert) 23 October 2011
Yes you can file suit for adjudging youself as an insolvent.
Shailesh Kr. Shah (Expert) 24 October 2011
Rightly advised.
prabhakar singh (Expert) 24 October 2011
In the circumstances stated by you ,no other better course is left for you.

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