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Personal Loan Settlement allows borrowers to negotiate with banks to pay a reduced amount instead of the full loan, offering relief from financial stress.

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Loan settlement companies negotiate with creditors to reduce outstanding amounts on unsecured loans, including personal loans and medical bills.

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Aadhar/PAN/Passport Salary slips & ITR Bank statements Loan details & receipts

Documents Required for Settlement

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Visit the lender's website/app. Log in or create an account. Fill the "Loan Settlement Request" form. Upload required documents. Wait for bank approval.

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Loan settlement negatively affects your credit score and is recorded in your credit history for up to 7 years, making future loans harder to secure.

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Pros: – Reduced loan burden – Financial relief – Improved mental peace Cons: – Lower credit score – Difficulty getting future loans – Strained relations with lenders