Loan Settlement is an option that you choose when your financial situation makes it difficult for you to repay your debts. It allows you to negotiate with lenders and settle your outstanding amount for less than what you owe. This helps you regain financial stability and helps you get your financial lifeline back. In this guide, you’ll get a clear understanding of loan settlement- from knowing which loans are eligible, its advantages and disadvantages, how it affects your credit score, and much more. What is Loan Settlement? Loan Settlement is an agreement between borrower and lender where the borrower due to financial instability re-negotiates the loan settlement and pays a portion of the total loan amount to close the account. The lender forgives the remaining balance, marking the debt as settlement and...