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If you’re unable to repay your secured loan EMIs, you should consider options such as loan settlement, debt restructuring, or the voluntary sale of assets. However, in extreme cases, individuals may file for insolvency under the Insolvency and Bankruptcy Code, 2016. This allows the borrower to declare bankruptcy, after which the lender may seize and liquidate the collateral to recover the debt. #loansettlement #loan #bank #lawsaysthat #trending #settlement | Lawsaysthat
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