SARFAESI Act, 2002
Governs secured creditor enforcement — banks can take possession of collateral without court order. Settlement prevents SARFAESI action.
Settle your debt.Protect what you have left.
A confidential session with a debt resolution lawyer who explains your settlement options, assesses your liability, and maps out a realistic strategy — so you know how to approach your creditor and protect your assets.
One-Time SettlementOTS StrategyPenalty WaiverEnforcement Advice
₹199–₹399
Per Session
30–90 Days
Typical Resolution
100%
Confidential
What we cover in your session
Our debt resolution lawyers help you understand your position, your realistic settlement range, and the strategy to get there — so you walk away with a clear plan.
Liability Assessment
We review your outstanding debt, default notices, and financial position to explain your realistic settlement range.
Negotiation Strategy
We explain how to approach the creditor, what a strong one-time settlement (OTS) proposal looks like, and the leverage points that get penalties waived.
What to Get in Writing
We explain what a settlement agreement must contain to extinguish the debt for good — and what to insist on before you pay anything.
Handling Enforcement Notices
We explain how to respond to SARFAESI notices and DRT proceedings, and the timelines you are working against.
The 5-Step Consultation Process
A structured session that moves from booking to a clear settlement strategy — all within a single confidential call.
01
Book Your Session
Select the Debt Settlement Consultation and choose a convenient date, time, and duration. Pay securely online.
02
Connect with a Debt Lawyer
Join the audio or video call with a lawyer who handles OTS, SARFAESI, and DRT matters.
03
Share Your Situation
Walk through your loan documents, default notices, and financial position. Everything is confidential under lawyer-client privilege.
04
Get a Settlement Strategy
The lawyer explains your realistic settlement range, how to frame an OTS proposal, and how to respond to any enforcement notice.
05
Understand Your Next Steps
Walk away with a clear action plan — what to offer, what to get in writing, and the timelines you are working against.
Legal Framework
Debt settlement in India is governed by a framework of banking, insolvency, and contract laws — each relevant depending on the type of creditor and enforcement action.
Recovery of Debts and Bankruptcy Act, 1993
Governs DRT proceedings by banks and financial institutions for recovery of debts above Rs. 20 lakhs.
Indian Contract Act, 1872
A settlement agreement is a binding contract — extinguishing the original debt claim upon fulfilment of settlement terms.
Insolvency and Bankruptcy Code, 2016
IBC proceedings against individuals and personal guarantors can be triggered by creditors — settlement avoids IBC exposure.
Client Success Stories
“Had a DRT notice on a business loan and no idea where I stood. One session and I understood my realistic settlement range, what to offer the bank, and how to respond to the notice. Walked in panicking, walked out with a plan.”
SR
Sudhir Rao
Hyderabad“SARFAESI notice on my property over a personal loan default. The lawyer explained exactly how OTS works, what to put in writing, and the timeline I was up against. Clear, calm, and genuinely useful.”
MK
Mala Krishnan
ChennaiFrequently Asked Questions
A settled account is reported to credit bureaus as "settled" rather than "closed" — which does impact your CIBIL score negatively. However, an unresolved default has a far greater and longer-lasting impact. Settlement stops the ongoing deterioration and allows credit recovery over time.
Yes. Even secured lenders prefer settlement over lengthy SARFAESI or DRT proceedings. The negotiation typically involves a lump-sum payment from the borrower in exchange for the lender withdrawing the security enforcement and issuing a No-Dues Certificate.
Many banks and NBFCs have internal OTS schemes that allow defaulting borrowers to settle at a discount — typically waiving all penalty interest and part of the principal if a lump sum is paid within a defined period. In your consultation, the lawyer explains how to structure a strong OTS proposal for your specific creditor.
No — a properly drafted settlement agreement extinguishes all claims arising from the original debt. In your session we explain exactly what the settlement deed must contain — a comprehensive release clause covering principal, interest, penalties, and all related proceedings — so you know what to insist on before you sign.