Debt Settlement

Personal loan settlement percentage is the share of your total outstanding loan that a bank or NBFC (non-bank loan company) agrees to accept as full and final payment instead of the complete amount you owe. There is no fixed percentage set by law. The final number depends on your specific situation, your loan's history, and how long repayment has been missed.

By FREED India | 13 June 2026

Debt Management

The Recovery of Debts and Bankruptcy Act 1993 is an Indian law that set up special courts called Debt Recovery Tribunals (DRTs special courts that handle only bank debt cases) to help banks and NBFCs (non-bank loan companies) recover large unpaid loans. It was created so that debt cases would not get stuck in regular civil courts for years. If a bank files a case against you under this law, you have legal rights including the right to be heard, to contest the claim, and to seek a settlement even after the case is filed.

By FREED India | 13 June 2026

Debt Settlement

A recovery call. A scary legal notice. A friend who said, 'hire a lawyer fast.' Find out if your case actually needs a lawyer or a simpler, calmer way to wrap up your loan.

By FREED India | 12 June 2026