I started trading in shares as a full time profession with a personal loan of 11Lacs and 4 lacs of saving. I lost it got refinanced for 10lac from parents with a hope to recover it, didn't work.Got another refinance of 10lacs,again failed.
Now left with 3 lacs only and wish to save this for any emergency.I am searching for a job to take care of family expenditure as no other source of income as my father has retired from job now. My brother earns 7.5K and i am expecting 35K ( which was my last drawn salary).
Now emis are worth 34K, so once if start earning, will not be able to pay emis.I am under lot of stress and wish to get out of it.I have been regular with emis till now.
Now i wish to file bankruptcy, please guide about pospects of success,litigation costs,procedures,etc.I have no assets except for my laptop.
I have not withdrawn my PF money(40/50K approx).If i apply for withdrawal,it will take a few months.Would it be given to creditors if i fail to withdraw before bankruptcy(if and when)is granted to me or would it be safe in PF account.