Find answers to common questions about debt settlement and your rights.
Debt settlement is a process where we negotiate with your lenders to accept a one-time lump-sum payment that is less than the full amount you owe. This is typically done for unsecured debts like personal loans and credit cards.
Yes, debt settlement is a purely commercial negotiation between a borrower and a lender. While there is no specific "Debt Settlement Act," it is a widely recognized practice by banks and NBFCs to recover dues from distressed borrowers under RBI's compromise settlement guidelines.
Initially, yes. A settlement is reported as "Settled" on your credit report, which is better than "Written Off" but not as good as "Closed." However, for someone already defaulting or struggling with EMIs, settlement provides a way to stop further damage and start rebuilding credit over time.
Absolutely. One of our primary roles is to act as your legal shield. We ensure that all communications from lenders follow RBI's Fair Practices Code, which strictly prohibits harassment, abusive language, or visits at odd hours.
We primarily assist with unsecured debts, including:
A: We believe in transparency. Our fee structure is typically a small percentage of the final settled amount, meaning you only pay for results. We also offer affordable monthly subscription plans for our anti-harassment shield services.
A: The timeline varies based on your fund availability and the creditor bank. Typically, the process can take anywhere from 6 to 12 months. During this time, our legal team ensures you are protected from harassment while you save up for the settlement.
A: Yes. Receiving a legal notice (Section 138, Section 25, or Arbitration) can be scary. Our legal team at Tis Hazari Court specializes in drafting professional legal responses to these notices, ensuring your rights are protected and avoiding unnecessary court appearances.
A: Absolutely. We follow strict data privacy protocols. Your financial details and personal information are kept 100% confidential and are never shared with third parties without your explicit consent.
A: While our headquarters is in Delhi (Tis Hazari Court), we serve clients across India digitally. Whether you are in Mumbai, Bangalore, Pune, or a small town, our legal protection and settlement services are fully accessible to you.