We have come across many cases where banks and financial institutions take absolutely illegal recovery action against borrower and guarantors or want to sell the properties of the borrower and guarantors at an extremely low price. However, the borrower and guarantors are not able to do anything because of lack of funds. We are giving hereinbelow some Frequently Asked Questions about NPA/OTS Funding.

FAQ: Banks and financial institutions are selling my property at a throwaway price. I can arrange a purchaser at a much higher price, but I need some time to do so.

Answer: There are many cases where banks and financial institutions are selling the properties of the borrower or guarantors at a throwaway price. The Debts Recovery Tribunal do not accept your argument about low price, but asks you to bring a purchaser at a higher price. You have found out a purchaser at a higher price, but he requires some time to pay the price. Debts Recovery Tribunal is not inclined to postpone the sale. We can try to help you by arranging a financier who may finance the purchase of the property at the initial stage, with an agreement with you to transfer the property in your favour or in favour of your nominee at a later stage on the basis of the terms and conditions which you may agree.

FAQ: The Bank or financial institution has offered me a very attractive one time settlement, but I do not have money to pay the settlement amount. How can you help me?

Answer:  There may be a situation, where Banks and financial institutions have offered you a very attractive one time settlement, but you do not have money to pay the settlement amount. We can try to help you by arranging a financier who may pay the OTS amount to Banks and financial institutions on your behalf on terms and conditions which you may agree.