Harassed by recovery agents? Stuck in a high-interest app loan trap? We help you negotiate a legal One Time Settlement (OTS) and stop the abuse.
True Credits Pvt Ltd is the RBI-registered Non-Banking Financial Company (NBFC) that primarily operates through the TrueBalance mobile app. They offer small-ticket personal loans to millions of users across India.
While convenient, these digital loans often come with very high interest rates and strict repayment terms. Defaulting on a TrueBalance loan can lead to aggressive recovery tactics, including calls to your contact list, which is a major violation of privacy and RBI guidelines.
If you are facing harassment or are unable to pay the mounting dues, AMA Legal Solutions can help you settle the loan legally and stop the abuse.
Digital lending apps like TrueBalance are designed to be easy to use, but they can quickly become a debt trap.
The effective annual interest rate can exceed 60-70%. If you miss a payment, daily penalty charges are added, causing the outstanding amount to double in a few months.
Many loans have very short repayment cycles (15-30 days or a few months), making it difficult for borrowers to manage cash flow.
The most common complaint against digital lenders is the harassment of contacts. Agents may call your parents, friends, or colleagues to shame you into paying.
True Credits agreements often include an arbitration clause. They may appoint an arbitrator to pass an award for the recovery of dues. This is a legal process, and ignoring it can lead to an enforceable award against you. We represent you to contest these claims.
If you have set up an e-mandate (NACH) that bounces, they can initiate legal action under the Payment and Settlement Systems Act. While less common for small amounts, it is a possibility that requires legal attention.
OTS is the most effective way to close your TrueBalance loan if you are in a debt trap. We negotiate a final settlement amount that is significantly lower than the total dues.
We have successfully settled hundreds of True Credits cases, often achieving waivers of 40-60% on the total outstanding amount, depending on the case specifics.
We specialize in stopping digital lending harassment and protecting your privacy.
We deal directly with the NBFC's legal team, bypassing the aggressive call center agents.
We know the RBI guidelines inside out and use them to your advantage.
We review your loan details and the extent of harassment.
We send a legal notice to True Credits to stop harassment and initiate settlement.
We negotiate for the maximum possible waiver on interest and penalties.
We verify the settlement letter to ensure it is genuine and terms are correct.
You pay the settlement amount, and we ensure the loan is closed.
The RBI has issued strict guidelines for digital lenders:
Settlement marks the account as "Settled" in CIBIL. This does lower your score.
However, continuing to default is worse. A "Written Off" status or active "Overdue" status damages your score more severely and for a longer time.
After settlement, you can rebuild your score by using a secured credit card and paying bills on time for 12 months.
"TrueBalance agents were harassing my contacts. It was humiliating. AMA Legal stopped it immediately and helped me settle the loan for 50% less. Highly recommended."
Student, Delhi
"I was stuck in a debt trap with multiple app loans. AMA Legal helped me prioritize and settle them one by one. True Credits was the first one we closed."
Retail Employee, Mumbai
Expert answers on settling your TrueBalance app loans.
Stop the harassment and settle your debt legally.
Our loan settlement services are available across all states and union territories in India