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SML can assist with most unsecured debts, including personal loans, credit card debts, payday loans, and BNPL loans. If these make up the bulk of your debt, our Settlement Platform can deliver positive results.
Settlement helps eliminate debt, offering a path to a debt free life. If you are experiencing creditor’s harassment, legal cases or struggling with monthly payments, it may be the right choice for you.
We charge a 10% fee, but only after your debt is successfully settled, as explained in your settlement letter.
For legal services, there's a small fee like:
Additionally, we offer a monthly subscription to manage your case, which ranges from ₹649 to ₹2,999, depending on your total debt amount.
We’ve kept our costs clear and affordable to help you on your journey to becoming debt-free!
Settlement can impact your credit score. SML’s Debt Settlement Program may lower your score temporarily, but your credit will improve once debts are settled.
SML’s platform analyses your debt and income, and enrols qualifying debts based on your affordability and financial goals. You cannot selectively enrol only specific accounts; it depends on what qualifies for the program.
Your savings will vary based on your financial profile and the settlement program you qualify for. Typically, you can save up to 50% on your total outstanding debt.
SML's platform focuses on unsecured debts like credit card debts and personal loans. After completing the program, you can use the money previously allocated to those debts to pay off secured debts and improve your financial future. Our goal is to promote responsible financial habits and long-term debt freedom.
If you haven’t been making payments, your creditor may close the card. Even if it remains open, we strongly recommend not using any of the available balance once enrolled in the program.
SML’s Debt Settlement Program is for customers in severe financial distress who can no longer manage their debt. It helps you start fresh by settling unmanageable debts. The Debt Consolidation Program is a preventive option, lowering EMIs through better rates or longer tenure for those over-leveraged but still managing payments.
No, SML's Settlement Platform is fully transparent. Subscription and legal fees will be disclosed upfront before you enrol. There are no hidden fees at any stage.
We can negotiate your settlement so that you become debt free, in most cases without it affecting your credit score.
