Summary Payment of a personal loan is a solution to be tried only in a dire situation, where the borrower has no other option for settling the loan. It can be helpful when someone becomes extremely financially poor, i.e., job loss, severe illness, destruction of a business of huge magnitude, or any other debilitating calamity. […]
Is Personal Loan Settlement Possible? A True Case Study Read More »
Summary Personal Loan Settlement is an option that is adopted when the borrower is unable to repay the full amount of the loan. In this, the bank or financial institution allows the borrower to repay a certain amount so that the loan account can be closed. Yet, before doing so, it is also crucial to
Documents required for Personal Loan Settlement Read More »
Summary Personal Loan Settlement is a process in which negotiations occur between the borrower and the bank to close the loan by paying a part of the outstanding loan amount. This is done when a person is unable to pay his EMI on time, and the loan becomes an NPA (Non-Performing Asset). However, a loan
How to negotiate with the bank for a Personal Loan Settlement? Read More »
Summary Personal Loan Settlement is a process in which the bank or the lending institution settles your outstanding loan for a certain amount by giving a discount. This can prove useful for those who are unable to repay the full amount of the loan due to a financial crisis. But some important documents are required
What documents are required for a Personal Loan Settlement? Read More »
Summary Defaulting on a personal loan can be traumatic for any individual, but panic is not required. With the proper approach, the loan can be paid off without any legal action. First, call the bank and provide the correct details of your financial status. In One-Time Settlement (OTS), the bank takes a lump sum payment
How to do a defaulted personal loan Settlement? Read More »
Summary Personal Loan Settlement is a financial process in which the borrower and the bank reach an agreement when the borrower is unable to repay the full loan amount and proposes to settle a part of the outstanding loan amount with the bank by paying a lump sum amount. This usually happens when a person’s
How to settle a personal loan without spoiling your CIBIL score? Read More »
Summary Personal Loan Settlement is a process in which a bank or financial institution allows a person to settle the loan by paying a lesser amount instead of the entire outstanding amount. This facility is for those people who are unable to repay their loan on time due to some reason and are continuously defaulting.
What is Personal Loan Settlement, and how is it done? Read More »
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