Frequently Asked Questions

Loan settlement is a process by which you negotiate and settle the loan repayment at a value lower than the total outstanding amount.

We can help you in settling unsecured loans like personal loans, credit card debts, consumer loans etc. We cannot settle collateral based loans like home loans, auto loans and consumer durable loans.

It may vary from case to case but average settlement time is usually between 1 to 2 years.

Building up the savings in your Escrow Account is an important part of settling your debts, so missing a payment may delay your settlement. Hence it is advisable not to miss the payments. In case you anticipate that you may miss a payment, do contact our team in advance for possible solutions.

You creditors will continue to add interest and late fee into your account. However, at the time of settlement, you will still end up paying less than the outstanding amount you had at the time of enrolment into the program.

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.

Loan settlement status will reflect in your credit score for seven years. However, it is better than carrying the burden for years and ending in loan default or bankruptcy.

It may vary from case to case but average savings could be 40-50% of the value of loan outstanding.

Our fees is usually 15% of the loan amount. In the final analysis, our aim is to provide you savings of 40-50% of the loan amount after accounting for all the costs.

You will not be able to use the credit cards that are part of the settlement program during the period prior to settlement.

No. There is no guarantee that the loan will be settled. However, in most cases the creditors are happy to settle rather than go through litigation.

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.