Loan settlement is the process of negotiating with creditors to pay off a debt based on your paying capacity. It is also known as debt settlement, debt relief, or debt resolution.
- Email: info@loansettlement.com
Loan settlement is the process of negotiating with creditors to pay off a debt based on your paying capacity. It is also known as debt settlement, debt relief, or debt resolution.
We can help you in resolving unsecured loans like personal loans, credit card debts, consumer loans, unsecured business loans etc. We cannot assist in collateral based loans like home loans, auto loans, gold loans and consumer durable loans.
It may vary from case to case but can take between 3 months to 1 year.
You should continue to pay your monthly EMIs to the lenders as far as possible. In case you anticipate that you may miss a payment, do contact the lender and take assistance from our team for possible solutions.
You creditors will continue to add interest and late fee into your account. However, at the time of settlement, the lenders may waive the interest or late fees at their discretion.
You may continue to get calls from the bank or recovery agents. However, do note that they are bound to follow certain code of conduct as laid down by RBI and Supreme Court of India. You can redirect the calls to our team and our legal team will handle the communication as per the laid down guidelines and laws of the country.
The creditor has the right to file a case for non-payment of dues but most creditors are willing to settle if there is a possibility. Our panel of lawyers can help you in handling these cases if the need arises.
CIBIL score can be improved by following financial discipline. Please talk to our team for guidance on this.
We understand that you may be in financial difficulties but wherever possible, you must meet your financial obligations to the lenders.
Loan settlement is the discretion of the lenders and only they can issue the settlement letters. We can only assist and do not have any authority to issue such letters.
You will not be able to use the credit cards that are part of the settlement program during the period prior to settlement.
Yes you can, but it is not easy to negotiate when you are under pressure. Our team has years of experience in doing this and can get the best possible deal for you.
Yes, it is perfectly legal.
Loan settlement works by negotiating with creditors to pay off a debt based on your paying capacity. The creditor gets paid and you get out of debt. It's a win-win situation.
There are several benefits to loan settlement. First, it can help you get out of debt quickly. If you’re struggling to make monthly payments, settling your loans can give you some breathing room. This can be a huge relief if you’re struggling to make ends meet.