Summary Loan settlement is a process through which the bank and borrower agree to pay a reduced amount in cash. It allows immediate discharge of debt and removes court procedure, but it is very costly. Advantages (Pros) Debt Relief Pay a lesser amount to settle dues. Stress Reduction No more follow-ups or mounting pressure. Avoid […]
Pros and Cons of Loan Settlement Read More »
Summary When a person has multiple debts – such as personal loan, credit card bill, car loan etc. – and he gets tired of paying EMIs of all the debts on different dates, then Debt Consolidation can be a wise option. It means combining all these debts in a single loan and paying it in
What is Debt Consolidation? Is it a good option? Read More »
Summary In today’s era, in view of the increasing trend of financial problems and debt, it has become very important to adopt Financial Discipline. It is not just limited to saving money or controlling expenses, but it is a thinking and lifestyle that helps us to keep our future financially secure. Financial Discipline means spending
How to maintain financial discipline, there is no need for settlement. Read More »
Summary Loan and Credit Card balance transfer is an option that helps you get financial relief. When a person transfers his existing loan or credit card dues to another bank or financial institution to get a lower interest rate, better EMI, or convenient terms, it is called a balance transfer. Through loan balance transfer, you
How does loan and credit card balance transfer work? Read More »
Summary Debt (debt-free) is a situation that has become very common in today’s time. People take loans for everything from buying a house to studies, marriage, car, treatment, or business. But if this loan is not repaid on time, it becomes a heavy burden. This causes mental stress, lack of money, and affects plans. That
What are the best strategies to become debt-free? Read More »
Summary Loan settlement is an option offered by banks to those customers who are not able to pay EMIs for a long time and whose loan is declared as NPA (Non-Performing Asset). This process is applicable in cases where the bank feels that it will be difficult to recover the entire loan and proposes to
When does the bank offer loan settlement? Read More »
Summary If your loan settlement is declined, don’t get worried. There are numerous options in such a situation that can be appropriately negotiated to resolve the problem. First of all, you have to negotiate with the bank and give a clear picture of your financial situation. If the bank is not settled, there is an
What to do if the bank does not settle the loan? Read More »
Summary Loan Settlement is a process in which the bank and the borrower mutually agree to settle the outstanding loan amount by reducing it. It proves useful for those who are unable to repay the entire loan due to financial problems. If a borrower fails to pay EMI for 3 to 6 months continuously, the
What is the legal process of loan settlement? Read More »
Summary Loan Closure and Loan Settlement are both procedures of ending a loan, but they have many differences between them. Loan Settlement is performed when the borrower cannot repay the whole loan amount and settles with the bank, where the bank forgives some portion of the loan. But this adversely impacts the CIBIL score and
What is the difference between Loan Settlement and Loan Closure? Read More »
Summary Loan settlement has a direct impact on your CIBIL score, and it can harm your financial credibility. Whenever a person is unable to repay the full amount of the loan due to any reason, the bank gives him the option of settlement, in which some amount is waived, and on repaying the remaining amount,
How much impact does a loan settlement have on your CIBIL score? Read More »
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