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what is the remedy available for non payment of dues


17-Dec-2025 (In Recovery Law)
someone took small loans from 3-4 private compaanies under nbfc and also took credit card of axis flipkart and fails to pay dues and the cibil score is very low how to recover the cibil score and close all the loans. total amount of loans are around 6000 ring + 12000 mobikwik pay later + 15000 credit card.
Answers (1)

Answer #1
718 votes
The borrower should immediately contact all NBFCs, Mobikwik Pay Later and Axis Flipkart credit card issuer and request a one-time settlement (OTS) or full and final payment. Since the total amount is relatively small, paying off dues at the earliest will stop further penalties, interest and legal recovery action.
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