Credict cards, bankrupcy, settlement with banks

Sir details of my case...

I use to have many credit cards issued between 1999 -2004 and all of them were issued from Delhi. I was a regular user of the Cards and was paying all the dues on time till last August (2007). I had undergone a financial crisis due to loosing all my money in share market and i got bankrupt. I do not have any
movable or immovable property on my name nor I do any job or business. I stay in a rented house and somehow surviving myself doing small works here and there.

Now the issue is there that as I have not made the payment of the banks since last august, they have started taking legal action against me, I am giving details of few of the cases which have been imposed on me, though I have not served any notice but got the papers photocopied somehow.

(1) They had filed case u/s XXXVII OF THE CODE OF CIVIL PROCEDURE,1908 IN COURT OF SENIOR CIVIL JUDGE, DELHI.

(2) They had FILED CASE U/S 406 and 420 I.P.C,IN CHENNAI IN COURT OF X METROPOLITAN MEGISTRATE,AND XMM issues NBW under section 70 CODE OF CRIMINAL PROCEDURE

...though there were no notices being sent prior to this.

Sir, I want to ask that what is the remedy available to me as I do not have money to do any settlement with the banks as I myself surviving very difficultly. What should I do, I cant hire a lawyer as lawyers in Delhi are out of my range. I am totally helpless and clueless. Please give me some guidance and show me the path.

Some of my friends have suggested me that I should run away from my address, sir is it the right solution,what are the consequences of it...

I might be able to settle them in 4-5 years time but the bank is not agreeing to it, at present this are the two cases but in the near future there could be many,I am totally lost and clueless.

Some of my friends have told me that in Civil cases the court will do a decree ,but as I have told you earlier I have nothing on my name, is there is anyway for me.

My all hopes are on your guidance as my life is all black and I am into high depression.

Thanks Sir

As you have already become insolvent, you do not need to do anything special, you just have to convince the court about this fact. When the decree goes in execution stage you just have to prove that you have become insolvent. As far as legal help is concerned apply for defendiong yourself as an indigent person.