Debt resolution is the process of negotiating new terms for the repayment of outstanding debt. This is typically utilised when a borrower is unable to repay the loan as agreed upon due to unemployment, unanticipated medical expenses, etc.
In Debt Resolution, the borrower and the creditor agree upon a lump sum amount, that will make it simpler for the borrower to pay off the outstanding debt.
In this Step, We will assess your financial situation and develop a debt relief plan to assist you in repaying your outstanding debt. In order to tailor a debt relief strategy, it requires examining your income, expenses, and debts.
After choosing a suitable plan, this stage involves executing a debt resolution agreement with us. Signing the contract will set the debt resolution plan in motion.
At this point, you will now begin setting aside funds in a special account for the resolution procedure.
At this point, our Legal and Financial Advisor will begin direct negotiations with the creditor(s) on your behalf in order to reach a mutually agreed amount. The plan entails paying a mutually agreed amount instead of the outstanding debt owed to the creditor(s).
After reaching a mutually agreed amount and paying it to the creditor(s), you will reach a debt free stage.
By talking with your lenders, we can help you resolve your personal loan repayment concerns. Many people turn to our financial and legal specialists for help because banks and NBFCs (Non-banking financial company) do not readily agree to resolve debts. These professionals have years of experience and are knowledgeable in this field.
If you can't make payments, a negotiated settlement is advantageous because credit card interest rates might exceed 40%. In the long run, it will improve your financial situation in addition to helping you save money. You can get help resolving credit card payback issues with our knowledgeable legal and financial advisers.
In spite of many decisions by the Supreme Court and RBI regulations against the intimidation of borrowers, recovery agents frequently harass debtors in India. Our legal experts can help in this situation with our Anti-Harassment Service. Don't worry if you experience harassment; we can assist you in finding a solution.