Slice Card Settlement Letter: You might have missed a Slice Card payment or Slice app based credit repayment. Or you might not have been able to pay your Slice Card bill, EMI payment or app based credit dues. You might be unable to pay this instalment on your Slice Card or the entire outstanding amount due on your Slice Card. Whatever reason you have for owing money to Slice lenders or collection teams, they have started calling you.
Slice Card Settlement Letter For:
Legal Notice Issues With Slice Card
Sometimes it can be difficult for you to pay back your Slice Card account dues. Your salary may have been delayed by your employer. You could have had an unexpected medical emergency come up. Some borrowers have lost their job or were laid off. Self employed borrowers income might have been lower that month. Business owners may not have made a profit in their business for a few months. Many reasons can cause your monthly income to suffer making it hard for you to repay your Slice Card amount owed.
Slice Marks Your Dues Overdue: Your Slice Card bill or dues may become overdue if you miss the deadline to make your payment. That payment could be your EMI payment, card bill payment or your entire outstanding amount due. If you don’t pay what you owe Slice by the date due, your Slice Card account may become overdue. Lenders can charge you late fees, penal charges and interest once your Slice account is overdue.
Slice Sends Demand or Recall Notice: After your amount becomes overdue, lenders will start calling you about your overdue Slice amount owed. You may receive a demand notice, recall notice or legal notice. Collection agents will start demanding you to pay lenders the entire overdue amount outstanding on your Slice account. If you do not pay back your lenders the overdue amount they may take further legal action to recover your dues.
Slice Sends Recovery Communication: You will soon start receiving letters and emails about your overdue Slice amount owed. You will start receiving collection calls for repayment of the Slice dues you owe. You may also start receiving collection SMS and WhatsApp messages. Or you may receive recovery emails about your overdue payment.
Slice Starts Lok Adalat or Arbitration: Your lender can initiate Lok Adalat proceedings to recover your dues from you. Depending on your account type and terms you agreed to, lenders can start arbitration. Arbitration and Lok Adalat can be started by Slice depending on overdue amount, stage of recovery and more. If Slice starts Lok Adalat or arbitration against you, do not ignore calls or letters from lender collection agents.
Slice Recovery Agents Are Calling You: Slice collectors should not harass you over the phone. Agents working for lenders can call you about recovering the unpaid amount. But they should not embarrass you at your job, threaten you over phone calls or force you to make illegal payments.
Sample Notices and Replies
Send lenders a legal notice reply for the demand notice you received from Slice. Tell Slice you cannot pay your full outstanding amount. Offer and send Slice lenders a settlement amount in writing.
Act immediately once you receive a recovery notice from Slice lenders. Take quick action if Slice sends you any legal communication regarding loan recovery.
Write and send Slice lenders an OTS request letter. Ask lenders to settle your overdue card dues or request waiver of dues.
Slice lender can initiate Lok Adalat against you to recover your dues. Slice can take the legal step of arbitration depending on your account type. If your overdue amount is high, they can begin arbitration. Lok Adalat notice can be initiated against you by Slice lenders. Arbitration notice can also be initiated by Slice lenders.
How to Settle Slice Card Dues?
OTS means one time settlement. OTS requests can be done by most app based credit companies, NBFCs and lending partners. Each lender has their own rules and policies for settlement. If you find yourself in a position where you truly cannot pay back your Slice Card outstanding amount owed. Write your lenders a settlement letter requesting them to settle your dues.
You can fill out an OTS application form or write your own OTS application letter. Include your Slice account details and mobile number registered with Slice. Include the total overdue amount owed on your Slice Card. Describe to lenders why you could not pay back your Slice Card dues.
Attach proof that can help verify your reason for not being able to pay. Bank account statement or salary slips can be used as income proof documents. Include your termination letter from employer if you were fired from work. Medical documents are useful if you had sudden medical emergencies. Include your income tax returns if you are self employed.
Wait a few days before Slice responds to your OTS request. They may accept your settlement request or reject your request. Or lenders may counter your settlement amount offer. Depending on your account type, total overdue amount, overdue duration, past payments and repayment history.
Negotiate how much you are going to pay lenders in order to settle your dues. Negotiate late fees charges, interest charges for recovery, penal charges and collection charges. You can even negotiate how much time you will need to repay the remaining overdue amount. Negotiate a realistic settlement amount that you can actually afford to pay.
Do not make payment to lenders until you receive written and email confirmation. You should only pay lenders through official sources. Official sources can be an authorised payment link, cheque, UPI or bank transfer. Once you make payment to lenders, ask lenders for proof of transaction. Request for a letter of closure or no dues letter and CIBIL update.
Your settlement request letter can be rejected by your lenders. Either you offered them too little amount. Or lenders did not find your reason reasonable enough to approve your request. You maybe did not attach the correct documents to support your reason. Your account might already be in a serious recovery stage. Therefore lenders might not want to negotiate with you. Just because your lender company has rejected your offer, does not mean you lost.
You can write another OTS letter to your lenders. But make sure you increase your settlement amount offer. Provide lenders better quality documents that explains your situation. Describe to lenders why you were unable to pay back your Slice Card dues. If you receive a demand notice or recall notice, you can reply back to lenders in writing.
Borrower Rights Against Harassment
Collection agents working for lenders cannot bully you over the phone. Recovery agents should not threaten you into making payments. They should not embarrass you at your place of work. Agents should not push you to make illegal payments over the phone.
No agent working for lender Slice can abuse you in any way. Agents can not threaten you to pay your overdue amount. Recovery agents cannot visit your job without you having a justifiable reason. They should not speak to your employer, manager or work colleagues. Recovery agents cannot threaten you to file a police complaint.
If you receive any legal notices from lenders such as demand notice or recall notice. You have the right to send lender Slice a written letter in reply to their legal notice.
Collection agents working for lenders cannot bully you over phone calls. You have the right to send your lenders a written complaint against them. Recovery agents should not abuse you in person to force you to give them money. Agents cannot threaten you to file a police complaint against you.
Slice Card Settlement FAQs
Have lenders from Slice been harassing you for repayment? Did they send you recovery letters, demand notice or recall notice? Or did lenders increase the harassment by sending you legal notices. Or maybe the lenders started intimidating you with phone calls. Do not panic and reply to every notice you receive in writing. First save proof of harassment then reply lenders in writing.
Loan Settlement Agency does not represent any lenders. Nor do we work for lenders in any sort of capacity. We have 0 contact with any Slice lenders or their recovery teams. Any settlement request offered or waiver request sent is done at your own risk.
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