Debt Counseling in India- Life saver at the time of Debt Situation

Debt Counseling, Credit Counseling, How to Tackle Debt
Debt Counseling, Credit Counseling, How to Tackle Debt

Debt Counseling In India- Lifesaver at the time of Debt Situation

By this Article, will able to understand how debt counseling in India works.

Whether you are not able to pay off your Loan EMI’s?

Are you having Sleepless Nights?

You are fed up with the Follow-ups by Debt Recovery agents?

This article is for you……. 

 Debt is a situation when the person’s income is not enough to pay off his monthly EMI’s of the loan. This situation can occur due to various reasons, due to the bad habit of spending money without any thinking of the question of paying back the loan or due to loss of job or business or due to some incident of health issues or accidents. 

Whatever the reason may be for the debt situation, it is very depressing and humiliating when the creditors through debt recover agents or their own debt recovery centers start knocking at your doors or calling you frequently for the following up for the payment of the EMI’s. 

This article will cover how debt counseling in India helps you come out of the debt situation. As per RBI Guidelines, there is a code of conduct that is to be followed by the banks/NBF for the recovery procedure. There is an article written on “10 Tips to Save from Legal Battle for Un-Secured Loan Default due to Business Losses- Non Payment of EMI-No willful Default” which can be read to know about it more. The situation of Debt can be overcome as Debt counseling also known as credit counseling.

How Debt Counseling can be a Life Saver

Debt Counseling In India- Lifesaver at the time of Debt Situation, it can be a lifesaving technique to get rid of your debt situation. As a result, Debt counseling will help you in analyzing the situation and provide you the right technique for handling the immediate situation and strategize for your future plans to pay off your loans.

It is done by the experienced debt counselor who has the experience of handling such situations and provides you relevant techniques to solve the issues with your creditors. Further, it will help you prepare for budgeting your finances and find out ways to pay off your Debt within your own budget and help you in finding techniques to have extra money to add up in your existing budget to make room for the EMI payments. Helps in taking decisions in which loan needs to be paid first and how much. 

It will further analyze the situation of discussing the situation with your creditors to find solutions to debt relief plans. For an experienced strategic Consultation towards your Debt Tackling, you Can BOOK your Time slot now for Discussion by clicking BOOK NOW.

Role of Debt Counselor at Apaizers Debt Counseling

Firstly at the first stage, the Debt counselor will discuss your current situation. After analyzing the situation will provide you a plan to tackle your situation. 

Further, the counselor will ask you to prepare a budget rather than a spending plan according to your income and expenses. As a result, if you’re spending plan has positive results than the counselor will help you adjust your budget and find ways for having extra money to be added to your budget to pay off your debts. 

Furthermore, if your spending plan is having negative results than as per your instructions and consent the counselor will reach out to your creditors to discuss the situation with them and try to negotiate for some debt relief plan for you. 

Then from thereon the counselor on getting a response from your creditor will get new terms in writing from your creditor and get it signed by you and you can start on the new terms. 

Lastly, if there is any possibility of a debt settlement than the counselor will follow that path to get the lowest possible settlement amount to close down your loan and get the NDC from your creditor. For an experienced strategic Consultation towards your Debt Tackling. 

You Can BOOK your Time slot now for Discussion by clicking BOOK NOW.

What can Be Debt Relief Plans

a). Debt Refinancing -

Negotiating with your creditor to get a better interest rate on your loan. Than refinance it by extending it over a longer period of time to reduce EMI, depending on your history.

b). Debt Mediation/Settlement-

If you are struggling with monthly payments, the counselor may be able to negotiate to pay back a portion. The counselor will work with a clear process of the settlement agreement in writing. Get no due certificates after the clearance of lump-sum payments for the closure of the Loans.

c). Debt Consolidation

In this option, you can look at consolidating your debt. This means you can combine more than one loan into one loan. It will help to simplify your finances by combining loans into one manageable monthly payment at lower interest rates.

Benefits of Debt Counseling:

Firstly, It will help you in reducing Stress. 

Secondly, It will provide confidence in keeping control of your Finances and Life. 

Thirdly, It will help you to gain the ability to Set Financial Goals and achieve them. 

Fourthly It will help you in planning for paying your living expenses. 

Fifth It will plan to help you pay off your debts within your budget.  
The sixth you can start saving money for your future. 

The seventh will help you adjust to a change that happens in life. 

The Eighth will provide you Money Coaching. 

Lastly, it will give you an idea of extra income techniques. For an experienced strategic Consultation towards your Debt Tackling, you Can BOOK your Time slot now for Discussion by clicking BOOK NOW

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