Debt Trap? 3 platforms that offer solutions to safeguard yourself

By Leandra Monteiro

Given how often consumers enjoy using their credit cards to pay for vacations, cell phones, and other items that could have been purchased with wise investments, it turns out to have a catastrophic after-effect. A heap of debt follows.

In India, a growing number of people are turning to debt management plans as a solution as they drown in debt, deal with obnoxious harassment, and have their credit scores negatively impacted. Through a variety of tailored plans and, occasionally, by providing solutions, debt management plans to assist in reducing the risk of default. Millennials can benefit from some such platforms, including:

• Freed

Freed, a startup focused on debt relief, offers an individual loan consolidation scheme. The program targets people who are mired in expensive personal loans and credit card debt. They provide consolidation options, however, Credit Cards, BNPL loans, App loans, etc. have extremely high-interest rates that many uninformed borrowers are unaware of. By combining the advantages of lower interest rates and longer terms, the company is able to give every borrower a lower EMI.

• SingleDebt

SingleDebt provides a cost-effective solution. The program is designed specifically for individuals who are struggling with credit management and searching for a trustworthy method to pay it off. The name represents a vast array of reasonably priced, skilled, and complete services. This start-up provides all services, including debt management, business debt management, loan settlements, paralegal services. Their internal specialists provide clients with reasonably priced debt management and control services. Additionally, they are one of the best firms that offer legal advice from in-house attorneys.

• Loansettlement

Loansettlement is led by a team of successful businesspeople with degrees from prestigious universities in the United States such as MIT, IIT, and IIM. They have over 30 years of experience as business owners in a number of industries, such as consulting, online education, and the management of careers all over the world. The most successful debt relief and settlement company in India, supporting individuals who seek aid to break free from the grip of their financial obligations. They offer settlements for a variety of debts, including credit card, personal loans, cancellation, and so on.