Regarding Bofa Credit Debt

Asked in International Law Law

  • ******k

    Guntur

Expert's Answers(3)

  • Kishan Retired Judge ( Advocate)

    Bengaluru, Karnataka
      184 Client Ratings

    Dear Sir, Without a civil decree from USA Court and consequent execution proceedings in Indian Court no bank agency pressurize you to pay the amount.

    August 13, 2018
  • Advocate Robert D Rozario

    Kolkata, West Bengal
      2 Client Ratings

    To know more about the proceedings, you can contact me through Vkeel.

    August 12, 2018
  • Advocate Robert D Rozario

    Kolkata, West Bengal
      2 Client Ratings

    Procedure to file bankruptcy: Steps to file for bankruptcy: Here are the steps to be followed if you intend to file for bankruptcy: STEP 1: Maintain your balance sheet for evidence purposes Since “bankrupt” is a legally-acquired status, it is important to disclose all your assets and liabilities before the court. Therefore, submission of evidence is an important first step. STEP 2: Legal Assistance: You can either engage firm or any bankruptcy lawyer to initiate bankruptcy proceedings. Should you engage us we will take record of your balance sheet and explore the possibility of captivating the court case. STEP 3: Filing for the status at DRT We will file a suit to declare your bankruptcy under the Insolvency and Bankruptcy Code, 2016 along with a petition u/s 25 of Presidency Town Insolvency Act 1909 to protect you from being arrested or detained due to debts you owe. We will present evidence in the DRT to prove your status. If you're married than your spouse should be clubbed together in the petition. This will protect her liability from paying any debts. STEP 4: Get order of bankruptcy If the tribunal finds the information provided genuine, you will be deemed bankrupt. You can announce that to your creditors after this of your bankruptcy. STEP 5: Appeal If for any reasons, DRT does not pass an order confirming your bankruptcy then first Appeal lies with DRAT within 30 days of passing of the order. Second Appeal lies in the Supreme Court within 45 days of passing of order by DRAT Only point of law will be considered in first and second appeal.

    August 12, 2018