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Is it a good idea to settle loan or huge credit card bill if you can’t repay? Know how to approach a loan settlement

Based on your circumstances and financial condition, lenders may also accept partial payment. However, it is generally better to settle the loan in full if you can afford it, as this may have a lower impact on your credit score, explains Raoul Kapoor, Co-chief Executive Officer of Andromeda Sales and Distribution, a loan distributor.