Jaipur | 23 Feb, 2021 (1 week, 2 days ago)

Insolvency and Bankruptcy Law (IBC)

Loan repayment

I have borrowed personal loan now after covid situation last year in june 2020 i got laid off and since than its been 8 months and have been unable to find the job also loan installments have not been paid since june 2020 and in january 2021 i got legal notice from bank and i am totally finished in terms of finances and also i am getting harassing calls telling that a non bailable warrant will be issued shortly, in last 8 months i tried for monotorium but was rejected and I have total of around 1 lakh of pending debt which includes high interest and also have lost all hope its getting very difficult, pls suggest me as no mode of payment is there and also i am barely surviving along with family, pls suggest should i file for insolvency or what can be done as cannot find any way further.
Answers
23 Feb, 2021 | 15:05

Sir, IBC has been currently put on a hold. There can't be any conclusive reply.


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