Gujarat is the land of enterprise. From the diamond polishing hubs of Surat to the textile mills of Ahmedabad, the entrepreneurial spirit is strong. However, global economic shifts have hit hard. Diamond workers are facing job losses, and MSMEs are struggling with cash flow.
The pressure of debt can be overwhelming, leading to severe stress. But remember, a business setback is not the end.
AMA Legal Solutions provides specialized legal support to the people of Gujarat. Whether you are in Ahmedabad, Surat, Vadodara, or Rajkot, we help you navigate the legal system to settle your debts and protect your business and family.
"Loan settlement, or One Time Settlement (OTS), is a legal negotiation where the bank agrees to accept a reduced lump sum amount to close a loan account that has become a Non-Performing Asset (NPA)."
For a businessman, this could mean settling a ₹20 Lakh loan for ₹10-12 Lakhs, allowing you to clear your balance sheet and restart.
We assist with:
You have specific legal rights that protect you from exploitation.
This Act strictly regulates private money lending. It mandates that all lenders must be registered and cannot charge interest above the prescribed limit. If you are trapped by illegal private lenders, this law offers strong protection.
The Gujarat High Court has consistently ruled against the use of coercive tactics by recovery agents. Banks cannot use "musclemen" or harass you at your workplace. We can seek immediate judicial intervention if your rights are violated.
The Gujarat State Legal Services Authority conducts highly effective Lok Adalats for settling bank disputes quickly and amicably.
We ensure strict adherence to RBI guidelines regarding fair practices code and recovery agent conduct.
We guide you through a structured process to achieve financial freedom.
We send a legal notice to the bank. This stops them from calling you directly and compels them to communicate only through us.
We analyze your business or personal finances. We assess your current paying capacity to propose a realistic settlement plan.
Our team negotiates with bank officials to reduce the outstanding amount, aiming for a waiver of interest and penalties.
We review the settlement letter. Once you pay the agreed amount, we ensure you receive a No Dues Certificate.
The diamond industry is the heart of Surat, but recent global events have caused instability. We stand with the diamond workers.
Job Loss Support: If you have lost your job or faced a salary cut, we can use this as a valid ground to negotiate a better settlement deal with the bank.
Do not lose hope. Debt is a solvable problem. We help you settle personal loans and credit card dues so you can focus on finding new opportunities.
Running a business in Ahmedabad or Surat comes with risks. Cash flow crunches can happen to anyone.
The GSLSA actively promotes Lok Adalats for bank recovery cases.
Why it works: It is a non-adversarial forum where you can sit across the table with bank officials and a mediator to reach a compromise. The settlement is final, and you save on legal costs. We can represent you in Lok Adalats across Gujarat.
Our expertise covers various types of loans common in Gujarat.
Settlement for MSMEs, textile units, and traders facing cash flow issues.
Helping salaried individuals and workers settle high-interest loans.
Negotiating to waive off high interest and late payment charges.
Helping manufacturers settle loans taken for plant and machinery.
Settlement will be reported to CIBIL, but it is a necessary step to regain financial control.
The Trade-off: A temporary dip in your credit score is better than facing legal action or losing your assets. Once settled, you can rebuild your score over time.
Silence can lead to legal escalation. Always respond, preferably through a lawyer.
Avoid illegal money lenders. If you are already trapped, use the Gujarat Money Lenders Act for protection.
Debt is a civil matter. You cannot be arrested for genuine inability to pay (except in specific cheque bounce cases). Stay calm and seek legal help.
To start your settlement process, we will need:
We are committed to protecting the business spirit of Gujarat.
Deep understanding of business loans, restructuring, and SARFAESI defense.
Specialized help for diamond workers facing job loss and debt.
We take strong legal action against harassment by recovery agents.
"I lost my job in the diamond market in Surat. The bank recovery agents were harassing my family. AMA Legal Solutions stepped in, stopped the harassment, and settled my loan for 40% of the amount."
Rajesh P.
Surat
"My textile business in Ahmedabad was going through a rough patch. I had multiple business loans. They helped me restructure the debt and settle one loan, saving my factory from being sealed."
Mehul S.
Ahmedabad
Yes, loan settlement is a completely legal process. It is often facilitated through Lok Adalats organized by the Gujarat State Legal Services Authority (GSLSA) and is a recognized method for resolving Non-Performing Assets (NPAs) with banks.
Absolutely. We understand the current crisis in the diamond industry. If you have lost your job or faced a salary cut, we can negotiate with the bank for a One Time Settlement (OTS) based on your current financial inability, helping you get out of debt without harassment.
Yes, MSME loans can often be restructured or settled. We can help you propose a viable repayment plan to the bank or negotiate a settlement that allows you to keep your business running while clearing your dues.
This Act strictly regulates private money lending. It requires lenders to be registered and prohibits them from charging exorbitant interest rates. If you are being harassed by an unlicensed private lender, this Act provides strong legal remedies.
GSLSA conducts regular Lok Adalats across Gujarat, including Mega Lok Adalats. These are highly effective for settling bank disputes amicably. The award passed is final and binding, often resulting in significant waivers on interest and penalties.
No. The Gujarat High Court and RBI guidelines strictly prohibit harassment. Recovery agents cannot visit your workplace to humiliate you or disrupt your business. If this happens, we can take legal action against the bank.
Yes, cheque bounce cases are compoundable offenses. This means the complainant (bank/lender) can agree to drop the case if a settlement is reached. We can help you negotiate this settlement and get the legal case withdrawn.
You will need your loan account statement, identity proof (Aadhar/PAN), proof of income loss (termination letter/business accounts), and any notices received from the bank.
Yes, a settlement will be marked in your credit report. However, it is better than a 'default' or 'suit filed' status. It stops the legal action and allows you to slowly rebuild your credit over time.
We understand the business culture of Gujarat. From protecting MSME owners to helping diamond workers, we provide expert legal representation to help you settle your debts with dignity and get back to business.
Speak to our senior loan settlement lawyers in Gujarat today.
Call +91-8700343611Request CallbackOur loan settlement services are available across all states and union territories in India