We know how humiliating it is to get calls from recovery agencies. Yes, it is perhaps the most embarrassing and frustrating moment. Nobody understands that you did not take the loan to become a defaulter. Your intentions were pure and pious.
However, the financial institutions and recovery agencies don't work based on emotions. For them, the contract papers and your credit ratings are more important than your financial condition.
Hence, they try to disgust, pressurize and harass up to such extent that you start thinking negative about everything.
Don’t lose your patience and don’t take hasty steps that make the things further complicated.
Coercive bankers make your life miserable
We understand that the bankers and financial institutions survive on the interests earned by them; it doesn’t mean they should leave aside the basic business norms.
It is a fact that financial institutions are becoming more and more coercive. They don’t bother about anything.
As a result, we see thousands of small and large businesses putting down their shutters and being uprooted.
What is the reason? It is because they fail to pay their loans. Even if they default for a few months, recovery agencies take charge.
Don't let it happen to you. Don't pay until we call you. We will help you in planning the repayment and adjusting financial priorities. We give a comprehensive guidance on NPA finance and alternate finance.
We deal with the legal issues, DRT and SARFAESI issues. Our experts look the possibilities of saving assets mortgaged by the finance company. We derive amicable settlements.
How to deal with NPA situation?
Well, there is no fixed solution for it. Rather, it is a situation where one size doesn’t fit all. Our approach is to find out what went wrong and how to correct it as fast as possible?
Here are a few possible solutions
- Do not spend on unproductive expenses. It will erode your money, and you won't be able to pay the loans.
- You should restructure the business in such a way that you raise some alternate finance. It reduces the burden on the top and bottom lines.
- Try to settle down your bank, lending firm or individual loaner on practical and flexible terms and conditions.
- Legally buy time so that your assets remain protected for a longer time.
- Use out of the box ideas to bring back life into your business.