I have some debt from some people. I lost my business and I don't have money to pay and don't have any assets to settle them back. They torcher me and my family to pay back. What do I do now?
dinesh don 28 April 2024
I have some debt from some people. I lost my business and I don't have money to pay and don't have any assets to settle them back. They torcher me and my family to pay back. What do I do now?
Shashi Dhara 28 April 2024
Approach civil court against them and also lodge complaint against them.
dinesh don 28 April 2024
Am I get arrested for debt?
T. Kalaiselvan, Advocate (Advocate) 28 April 2024
The lenders cannot get you arrested directly.
They have to file a money recovery suit, it will go on for years.
After that court will pass judgement as per law to recover the amount.
If they threaten you then you can approach police with a criminal complaint against them.
Dr. J C Vashista (Advocate ) 29 April 2024
No one can torcher you like that as stated by you, for recovery of outstanding amount, if so, file a police complaint / FIR.
If the outstanding amount is against business transaction(s) file a case with NCLT to declare you an insolvant, if you are unable to pay debts.
dinesh don 04 May 2024
Thank you all for your kind opinions
T. Kalaiselvan, Advocate (Advocate) 04 May 2024
You are welcome for your understanding
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