Skip to content
Debt Solutions Expert answer Reference guide OTS / Settlement

I have defaulted on 6 personal loans. Can I settle them all together?

Anonymous 0 replies
Expert answer

Each lender has to agree separately — there's no single combined settlement across lenders in India. But you can run the negotiations in parallel:

  1. Prioritise by urgency — start with accounts already classified NPA or where legal action is close.
  2. Prepare one financial statement — showing your total debt against what you can actually pay strengthens your case with every lender.
  3. Be consistent — the same honest picture to every lender.
  4. Handle legal-risk accounts first — anything under SARFAESI or DRT action.
A Debt Management Plan is often the best fit for several defaults at once — the negotiations are handled together, even though each agreement is separate.

Start a free DMP assessment →

SA
SingleDebt Advisor

Replies (0)

Don't share account numbers, loan IDs or phone numbers.

More in Debt Solutions