One Time Settlement (OTS) is a financial arrangement between a borrower and a lender where the borrower agrees to settle an outstanding loan or debt by paying a lump-sum amount, which is usually lower than the total amount owed. OTS is a commonly used method to resolve bad debts or non-performing assets (NPAs) in the banking and finance industry.
Our expertise in OTS includes:
- Analysis and evaluation of the borrower’s financial situation: We analyze the borrower’s financial situation and assess their ability to repay the debt. We evaluate their assets, income, liabilities, and credit history to determine their financial capacity and the feasibility of an OTS.
- Negotiation with lenders: We negotiate with the lenders on behalf of the borrower to arrive at a mutually acceptable settlement amount. We take into consideration the borrower’s financial situation and negotiate for a lower settlement amount that is feasible for them.
- Preparation and submission of OTS proposal: We prepare and submit an OTS proposal to the lenders on behalf of the borrower. The proposal includes the settlement amount, repayment terms, and other conditions.
- Assistance with legal and documentation formalities: We assist the borrower with the legal and documentation formalities involved in the OTS process. We ensure that all the necessary documents are in order and help with the submission of the required paperwork.
- Post-settlement support: We provide post-settlement support to the borrower to ensure that they comply with the terms of the settlement agreement. We also provide guidance on improving their financial situation and managing their debt in the future.
Our expertise in OTS helps borrowers in resolving their debt-related issues and provides them with a fresh start. We work towards achieving a favorable outcome for our clients and ensure that their interests are protected throughout the OTS process