Cut My Loan Blog: Legal Loan Resolution, Recovery Harassment Help & Financial Advice
Latest Blogs on Loan Settlement, Legal Help & Financial Freedom
Cut My Loan's blog section offers expert-written guides to help you fight recovery agent harassment, understand loan settlements, and take control of your financial journey.
Frequently Asked Questions
Is loan settlement legal in India?
Yes, loan settlement is fully legal and permitted by the RBI. Banks often offer settlement options to borrowers facing genuine financial hardship.
Will settling a loan affect my CIBIL score?
Yes, your CIBIL score may drop temporarily after settlement. But it's better than leaving the loan unpaid, which affects your score even more over time.
Can recovery agents come to my house?
As per RBI guidelines, recovery agents must follow a strict code of conduct and cannot threaten, abuse, or enter your home without consent.
How long does a loan settlement process take?
It depends on the bank and your case. On average, it can take 2 to 6 months to complete the settlement process and receive a closure letter.
What documents are needed for loan settlement?
You may need ID proof, loan details, payment history, income proof, and any documents supporting your financial hardship (job loss, medical bills, etc).
Can I stop recovery calls legally?
Yes, if you take legal support, recovery agents are bound to stop harassing you. You can send them a legal notice through your advocate.
Is Cut My Loan a law firm?
Cut My Loan is not a law firm but works with a panel of experienced advocates and financial consultants to resolve debt cases professionally.
What is post-settlement support?
Post-settlement support includes help in getting No Due Certificates (NOC), updating CIBIL records, and ensuring the bank doesn’t contact you again.
How can I be sure my case stays confidential?
Cut My Loan follows strict data privacy protocols and never shares your personal or financial data with third parties.
Can I negotiate directly with the bank?
You can, but without proper knowledge you might agree to unfavorable terms. Having an expert ensures you settle with clarity and fair documentation.
Does loan settlement stop legal notices?
Yes. Once the settlement is complete and payment is made, legal notices from banks typically stop, and a closure letter is issued.
Do you charge fees for consultation?
No, initial consultation at Cut My Loan is free. Only if your case moves forward and needs expert handling, a service fee may apply.
