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How to Improve CIBIL Score After Loan Settlement
Loan settlement is the process of settling an outstanding loan by having an agreement between the lender and the borrower. It is sometimes referred to as debt negotiation, debt relief, or debt resolution. A loan settlement is essentially an agreement between you and your lender to repay your debt for a sum that is lower than what you owe. A number of factors, including business losses, incapacity, job losses, or financial troubles, may cause borrowers to be unable to make their monthly payments. You have the option to settle your loan in the event that any of these circumstances arise. But not every borrower qualifies for this lump sum loan settlement. Only debtors with valid proof of their incapacity to repay the loan.
