One Time Settlement

One Time Settlement Scheme for NPA Accounts

We are providing the One Time Settlement Scheme for NPA Accounts. Fund Source India is an intermediary firm that negotiates with banks on behalf of our clients. We try to settle the loan outstanding at the lowest amounts possible & get the one-time settlement approved from the bank.

Our experienced team does the assessment of the client’s business & underline securities and explores the best possibilities for the proposal. We are a company that works on modern-day solutions for the financial market. We work symmetrically with the client to arrange & manage the documentation required in case of delivering or servicing the commitment. We are funded in all major cities of the country. Through our support, clients positively meet their goal of funding for a one-time settlement & restart their financial life.

Features of One Time Settlement Scheme

Negotiations on behalf of our clients.
Negotiation as per banking & RBI policies.
Clients having cases under DRT & NCLT can also take this facility.
Available in PAN India.

What is One Time Settlement(OTS)?

One Time Settlement (OTS) is a mutual & legal contract between a financial institution (bank) & its borrower to settle down Non-Performing Loan (NPL) at a reduced price, which is beneficial for both parties as the bank reduces its bad loans and the borrower gets rid of all the legal & financial issues associated with it.

Why One Time Settlement is Required?

Once an account is declared NPA by the lender, it adversely affects the borrower. Their creditworthiness is compromised, and if the default amount is significant, the lender may initiate legal proceedings to recover the outstanding dues.

To avoid this situation, the borrower needs to repay this loan in any way. For this, the best way is to apply for a one-time settlement with a bank. By this way of one-time settlement, the borrower can save a lot of money in the form of huge interest, legal charges & penalties.

One Time Settlement amount directly depends upon how old the account is, the valuation of collaterals, and the business status of the client. Suppose, in case the valuation is higher than the loan amount, then the settlement amount will be quite higher. Similarly, if the account is new, then the finalized amount will be high.

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FAQs - One Time Settlement

Why would a creditor agree to a One Time Settlement?

Creditors may consider a One Time Settlement to recover at least a portion of the debt without the need for lengthy legal proceedings. It allows them to avoid the costs associated with pursuing legal action and potentially expedite debt recovery.

What are the benefits for a debtor in a One Time Settlement?

Debtors can benefit from a One Time Settlement by resolving their outstanding debt with a reduced payment. It provides an opportunity to settle the debt, avoid legal consequences, and improve their creditworthiness.

Who can opt for a One Time Settlement?

Any individual or entity with outstanding debts, such as individuals, businesses, or organizations, can explore the possibility of a One Time Settlement with their creditors.

Can all types of debts be settled through a One Time Settlement?

While many types of debts can be settled through a One Time Settlement, it depends on the creditor's policies and willingness to negotiate. Debts such as personal loans, credit card dues, business loans, and other unsecured debts are more commonly settled through this arrangement.

How much can be saved through a One Time Settlement?

The amount that can be saved through a One Time Settlement varies based on the creditor, the amount of the outstanding debt, and the negotiation skills of the debtor. Typically, creditors offer a reduced amount compared to the original debt, but the actual savings depend on the specific circumstances.

Will settling through a One Time Settlement affect my credit score?

Generally, opting for a One Time Settlement can have an impact on your credit score, as it indicates that you did not repay the full amount as agreed. However, the impact can vary, and it's advisable to consult with credit bureaus or financial advisors for a more accurate understanding of the potential credit score implications.

How can I initiate a One Time Settlement?

To initiate a One Time Settlement, you should contact your creditor directly and express your willingness to settle the debt. It is essential to provide accurate information about your financial situation and negotiate with the creditor for a mutually agreeable settlement amount.

Can I negotiate the terms of a One Time Settlement?

Yes, negotiation is an integral part of the One Time Settlement process. You can discuss the settlement amount, repayment terms, and any other conditions with your creditor. However, it's important to approach negotiations in a professional and respectful manner to increase the chances of reaching a favorable agreement.

Is it advisable to seek professional help for a One Time Settlement?

Seeking professional help, such as from financial advisors, debt settlement companies, or legal experts, can provide guidance throughout the One Time Settlement process. They can assist in assessing your financial situation, negotiating with creditors, and ensuring that all necessary legal aspects are considered.

One Time Settlement