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Terms & Conditions for 45 days challenge
- Eligibility
The client must have missed Equated Monthly Installments (EMIs) for more than 90 days on the concerned creditor account(s). - Fund Availability
“The Client shall ensure that sufficient funds required for the proposed settlement are available at the time of initiating the settlement process. All such funds must be transferred exclusively to the designated SML account for the sole purpose of executing the settlement. Further if there is no sufficient funds for settlement, client will not hold SML liable for the same. - Legal Team Approval
“All settlement letters received from creditors shall be subject to mandatory verification and approval by SML’s legal team. In the event that any settlement letter is rejected by the legal team, any delay arising due to such rejection or the subsequent verification process shall not be attributed to SML.” - Banking / Technical Delays
“SML shall not, under any circumstances, be held liable for delays caused by banking issues, payment gateway failures, server downtime, system interruptions, or any other technical or operational malfunctions. If there are any such delays, whether foreseeable or unforeseen which impact the processing of payments, verification, or settlement execution, no claim shall be maintainable against SML for the same.” - Client Disclosure Obligations
“If the Client conceals or fails to disclose any relevant information—including but not limited to additional loans, legal notices, overdue EMIs, or prior communications with creditors, SML shall not be held responsible for any delay, complication, or failure in achieving the settlement. Further, the provision of incorrect, incomplete, false, or no claim shall be entertained in such circumstances.” - Scope of Settlement
SML does not guarantee full and final settlement of all outstanding debts of the Client. SML shall undertake settlement efforts only for those specific account(s) that are identified and verified, by SML upon at the time of enrollment. No claims shall be entertained for any debt or account not expressly included in the agreed scope.”
If the client has multiple overdue loans, each account will be treated separately.
Any undisclosed credit facilities discovered later will void the terms of agreement - Client-Requested Renegotiations
“If SML secures a valid settlement letter, but the Client chooses to negotiate further for a lower settlement amount, any delay arising thereafter shall not be attributable to SML. In such cases, the Settlement Guarantee shall stand null and void, and SML shall bear no responsibility for any extension of the timeline.” - Non-Compliance by Client
“Failure by the Client to respond to calls or messages, provide required documents on time, follow settlement-related instructions, or authorize payments when requested shall automatically void the terms of the agreement. The Client is required to remain actively available for verification calls, emails, and document submissions throughout the period. Any delay or failure in the process caused by the Client’s unavailability or non-responsiveness shall not be attributed to SML, and SML shall bear no liability for the same.”
If the client directly communicates with creditors during term of the agreement without informing SML, resulting in confusion or delay, SML shall not be held liable.
Any contradictory instructions given by the client to creditors void the said agreement. - Creditor-Related Delays
Any delay arising from the creditor’s end, including but not limited to delayed responses, verification backlogs, internal processing timelines, or changes in the creditor’s settlement policies—shall not be treated as a fault or deficiency on the part of SML. Such delays shall not be counted and no claim shall be entertained against SML for the same.
Any delay caused due to creditor non-cooperation, refusal, policy restrictions, or internal procedures shall not be considered SML’s fault. - Final Decision
SML reserves the absolute right to reject any enrollment, terminate a Client’s participation, or amend, modify, or withdraw the Terms and without prior notice. SML’s decision in all matters relating to the settlement an the terms of the agreement shall be final, conclusive, and binding on the Client, and shall not be subject to challenge or dispute.
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