KrazyBee Services Pvt. Ltd. is a well-known NBFC that primarily lends through the popular KreditBee app. They target students, young professionals, and first-time borrowers with small-ticket loans. While the money comes easy, the repayment terms can be harsh. High processing fees, short tenures, and aggressive recovery tactics often trap young borrowers in a cycle of debt.
If you are a student who can't pay back due to lack of pocket money, or a professional who lost their job, you might be facing threats of calls to your parents, college, or workplace. This is illegal.
At AMA Legal Solutions, we protect young borrowers. We intervene to stop the harassment and negotiate a One Time Settlement (OTS) with KrazyBee, allowing you to close the loan for a fair amount and move on with your career.
Many borrowers are confused: "I took a loan from KreditBee, why is KrazyBee sending me notices?"
Small amounts for college expenses. Often defaulted due to lack of income.
Larger amounts for professionals. Default usually due to job loss.
Loans taken to buy products on Amazon/Flipkart via the app.
OTS is a legal exit route. KrazyBee agrees to close your loan account for a payment lower than the total outstanding. This is common for unsecured loans where recovery costs are high.
Daily late fees can double your loan amount in months. Settlement freezes this growth immediately.
Settlement ensures they stop calling your reference contacts, parents, or HR department.
You get a No Dues Certificate (NDC) from KrazyBee, proving the loan is closed and no further claim exists.
If you are still studying and have no income source, or if you graduated but haven't found a job yet.
If you lost your job or faced a salary delay, making it impossible to pay the EMI.
Delivery partners, freelancers, or drivers who faced a drop in daily earnings.
If the recovery agents have crossed legal lines (abusive language, calling relatives), we use this as a strong ground for settlement.
We check if your loan is with KrazyBee or a partner lender.
We issue a notice to stop calls to your parents and friends.
We talk to KrazyBee's central team to waive off the huge late fees.
We get a formal letter on KrazyBee letterhead confirming the deal.
You pay the amount, and the loan is closed permanently.
Recovery agents often cross the line with young borrowers. Know your rights.
Calling your friends or relatives to shame you is a violation of RBI's Fair Practice Code and your privacy rights.
Our Action: We file complaints with the RBI Ombudsman and send legal notices to stop this immediately.
Agents cannot use abusive language or threaten physical harm.
Our Action: We record these calls and use them as leverage during negotiation to get a better settlement deal.
| Feature | EMI Extension | Loan Settlement (OTS) |
|---|---|---|
| Total Payment | Full Amount + Extra Interest | Reduced Amount (40-60% less) |
| Credit Score | Maintained | Impacted ("Settled") |
| Mental Peace | Debt continues for months | Immediate freedom |
A "Settled" status will drop your score. But for a student or young professional, having a "Written Off" status is worse. Settlement stops the damage. You can rebuild your score in 1-2 years by using a secured credit card or a small gold loan.
We understand student budgets and offer affordable service fees for student loan cases.
We take strict legal action against agents calling your parents or college friends.
We deal with KrazyBee's legal team directly, ensuring a proper legal closure of your loan.
"I took a ₹10,000 loan in college. It became ₹22,000 with late fees. They were calling my father. AMA Legal stopped the calls and settled it for ₹12,000."
Karthik R.
Student, Chennai
"I lost my job and couldn't pay my KreditBee EMI. The agents were abusive. AMA Legal handled them professionally and closed my loan."
Sneha Gupta
Job Seeker, Pune
Common queries about settling loans with KrazyBee / KreditBee
Our loan settlement services are available across all states and union territories in India