Tag: Debt Settlement

Understand RBI guidelines for recovery agents, borrower rights, and how to handle loan recovery contacts respectfully.

In the global landscape of recovery practices, each chapter tells a story of both victory and adversity. Despite India’s flourishing economy and ambitious strides, it still struggles to maintain a fair balance between the human rights of borrowers and the interests of lenders.

Lawyer Panel becomes India’s largest dispute resolution platform, aiding 30,000+ individuals and resolving ₹1700 crore in debt through expert counselling and legal support.

One of the most overwhelming feelings in this world is the burden of multiple loans like personal loans, credit card dues, and payday loans, especially in a society like ours. We live in a society where taking loans is easy; however, financial literacy still lags behind. However, all it takes is the correct strategy, and with the right steps anyone can come out of this trap.

Lenders are increasingly including clauses in loan agreements that mandate Online Dispute Resolution (ODR) for any disputes arising between them and the borrower. While ODR offers a faster and potentially cheaper alternative to traditional court cases, these clauses often come with a twist: the option of a sole arbitrator chosen by the lender. This raises concerns about fairness and transparency in dispute resolution for borrowers.

Arbitration ensures efficient dispute resolution in business, labor, family, and international law. While it promotes stability and cooperation, concerns over fairness and transparency necessitate continuous evaluation.