23,000+borrowers helped across India
Can't pay your personal loan EMIs? Our legal experts negotiate a written One-Time Settlement with your bank or NBFC before you pay anything.
23,000+
borrowers helped
Legal experts
not recovery agents
RBI rules
Fair Practices Code
In writing
every offer on record
Missed EMIs
Penal interest piles up
CIBIL score drops
Recovery calls begin
Legal notice arrives
Stress at home and work
You don't have to face this alone.
Talk to a legal expertHow it works
You approve every decision. Nothing is paid or agreed without your go-ahead.
Share your loan details. A legal expert reads your agreement and statement and tells you honestly whether settlement makes sense.
You get the strategy, the realistic range and our fee in writing before any work starts.
We put a One-Time Settlement proposal to your lender and handle every counter-offer on record.
Nothing is accepted without you. The settlement amount goes directly to the lender's official account, never to us or an agent.
We check the settlement letter and No-Dues Certificate, and follow up until your credit report shows the account closed.
The end result
Settlement letter on the lender's letterhead
The agreed amount, due date and account number, in writing, before you pay.
Payment to the lender, not to us
You pay the lender's official account, and you get a receipt for every payment.
No-Dues Certificate and credit report update
We follow up until the NOC is issued and the bureau shows the account closed.
Is it right for you
If one or more of these sounds like you, a free case review will tell you where you stand. No obligation.
The service
In short: Personal loan settlement is when your bank or NBFC agrees to accept a reduced, one-time amount to close a personal loan you can no longer repay. Personal loans are unsecured, so the lender cannot seize property, but it can add penal charges, report the default to CIBIL and start recovery.
A personal loan is unsecured, so there is no asset for a lender to seize if you fall behind. What a lender can do is add penal interest, report the account to the credit bureaus, and hand it to a recovery team. Personal loan settlement is the process of negotiating one reduced payment that closes the account for good.
Legal Savvy reviews your loan agreement, statement history, and current repayment capacity, then puts an OTS proposal to your bank or NBFC on your behalf. The settlement figure depends on your lender's own policy and how long the account has been overdue, so we do not quote a percentage before reading your file.
Don't have them all? Start anyway. We'll help you get copies from the lender.
What we will always do, and what we will never ask of you.
Calls after 7 pm, threats, calls to your family. RBI rules forbid all of it. We document it and make the lender answer for it.
Stop the harassment
Why use legal experts
Who deals with the lender
You, alone, on every call
Your legal expert, in writing
Settlement offers
Verbal promises that can change
On the lender's letterhead
Recovery pressure
Calls you handle yourself
Conduct checked against RBI rules
Legal notices
Unclear what to reply
Drafted replies within the deadline
Closure
NOC often missed
Settlement letter and NOC checked
How do I settle a personal loan in India?
How much can I save through personal loan settlement?
Can I get a loan again after personal loan settlement?
Can I get a new loan after settling a personal loan?
What happens if I stop paying my personal loan EMIs?
Free case review
About 2 minutes · Private · Free, no obligation
NBFC loansNBFCs follow their own RBI Fair Practices Code, separate from the one that binds banks. Legal Savvy negotiates settlements with NBFC lenders and holds their recovery conduct to those rules.
Credit cardsCredit card dues grow faster than any other unsecured borrowing. Legal Savvy negotiates a settlement directly with your card issuer and insists on a written settlement letter before any payment is made.
Business loansWhen a term loan, working capital line, or MSME facility stops being serviceable, Legal Savvy negotiates a One-Time Settlement with your lender and represents your side of the file if the account moves to recovery.
Your rightsRecovery agents work under binding RBI conduct rules on calling hours, language, and who they are allowed to contact. Legal Savvy helps you document breaches and take them to the right forum.
Digital lendingNot every lending app operates within the RBI digital lending rules. Legal Savvy checks who actually holds your loan, then negotiates a settlement with the regulated entity behind the app.
