In deep financial hardship due to job loss or medical crises? A factual legal guide to submitting an OTS proposal to settle non-performing loans for a fraction of the total dues.
Recovery agents threatening home visits at odd hours or calling family members? The Reserve Bank of India has enacted strict, enforceable codes of conduct.
An OTS closes the bank file but reports your account as 'Settled' to credit bureaus, blocking future loans for up to 7 years. Learn how to convert a settled account to 'Closed'.
Can you be jailed for defaulting on an unsecured personal loan? Understanding civil default vs criminal fraud under the Indian Penal Code and SARFAESI Act exemptions.