Hello Dear Experts,
I used to run a small tailoring unit for the last few years with a staff of 5. Due to slump in business & recurring overheads, I ran into a debt of around 20 Lacs of Rupees over the years. Now my creditors are demanding back their money which at presently I am unable to repay them though I have all the intentions in the world to pay-back at the earliest.
As of now, I am completely bankrupt & struggling to even take-care of daily household expenses.
I would like to file a case of BankRuptcy so that I can establish to my creditors about the genuiness of my current financial position.
I solicit legal advice & consultations on how to go about filing a BankRuptcy case, fomalities involved, timelines, costs etc.
Any pointers would be highly appreciated.
Thanks & Regards,
PS : I am not sure whether this is the right category to post this query. If it's not then kindly move it to the right one. Sorry for inconvenience.
