Summary Loan settlement recovery agent harassment can be stressful when agents threaten, abuse, or come to your home at odd times. Most of the borrowers who are facing financial struggles suffer the same. Fortunately, you have protection under the laws. The Reserve Bank of India (RBI), the Indian Penal Code (IPC), and the Consumer Protection […]
Loan Settlement Recovery Agent Harassment Read More »
Summary The Reserve Bank of India (RBI) has announced changes to the rules for loan settlements with Asset Reconstruction Companies (ARCs), which are helpful to borrowers. The significant changes made by the RBI are longer repayment periods, lower upfront payments and greater flexibility on repayment timelines. Borrowers now have greater opportunities to negotiate and reach
RBI Eases ARC Loan Settlement Rules What Does t It Mean Read More »
Summary By 2025, most formal loan settlement frameworks from COVID-19 will have ended. Still, options exist for borrowers facing financial struggles. Most government relief programs have ended, but some support may still exist. You might find emergency loans, loan modifications, or debt relief for certain groups. Also, Private lenders can be good options. They might
Post-COVID Loan Settlement Schemes Still Active in 2025 Read More »
Summary To manage One-Time Loan settlements, one needs to understand the process of loan closure. This means you have repaid the full amount through EMIs or prepayment. Loan closure shows financial discipline and helps improve your credit score. One-time loan settlement is an option if you can’t repay the full amount. In this case, you
One-Time Loan Settlement Key Difference Read More »
Summary The pandemic has resulted in massive changes to student loan policies across the world. And as governments reacted, relief came in the form of moratoriums on payments and interest, transitions back to repayment but with flexible options, new income-based repayment plans and a new innovative model, SAVE. There were expanded loan forgiveness programs, especially
Student Loan Forgiveness and Settlement Post-Pandemic Read More »
Summary Early vehicle loan settlement means that you are paying your loan off early, either completely or by agreeing to a reduced lump sum. This could lead to interest savings or help you to avoid repossession, but it could have a knock-on effect on your credit score. If you see “paid in full”, your score
The Impact of Settling a Vehicle Loan on Your Credit Score Read More »
Summary Vehicle loan settlement can impact your income tax. This depends on whether the vehicle is for personal or business use. You can’t deduct interest or principal payments for personal-use vehicles. So, the tax impact is low. For those in business, the tax ramifications might be rather obvious, though. Early settlement often reduces tax-deductible interest
Does vehicle loan settlement affect income tax? Read More »
Summary Vehicle Loan Once your vehicle loan is fully repaid, the bank or other financial institution prepares a legal document called the NOC. Since the lender has no remaining claim on the car, they are required to hand over ownership, remove the mortgage from the registration certificate (RC) and renew the insurance. You will have
How do you get a NOC after a vehicle loan settlement? Read More »
Summary To apply for a vehicle loan settlement, you need to show proof of your financial issues. This means providing supporting documents that back up your claim. If your car is worth more than the settlement offer, lenders might not approve your request. Also, if you can show financial stability, that could help too. To
Top Reasons Banks Deny Vehicle Settlement Requests Read More »
Summary Taking out a vehicle loan is a big step in your financial life. Taking out a vehicle loan is more than simply borrowing money; you are choosing a lender and avoiding a scam. You should examine credentials, be cautious about unrealistic promises, review documents carefully, avoid agents you cannot identify, and pay your way
How to avoid Vehicle Loan Fraud? Read More »
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