Debt Management Platforms Lending A Hand To Freedom

Suvadeep Datta, 43, an IT professional based in Bengaluru, has been using credit cards for a long time and efficiently. A personal setback followed by a nationwide lockdown, and it was a domino. He couldn’t pay credit card bills one after another and soon found himself in a debt trap. His credit card debt amounted to about Rs 14 lakh. What made matters worse was that he had a personal loan and a couple of other loans. At a low point in life, disillusioned with regular recovery calls by collection agencies, he found out about FREED, a debt relief platform, through social media. The company took the matter into its hands and settled Rs 6.36 lakh out of Rs 14.12 lakh in six months. Datta also got a ‘haircut’ of 55 per cent  (Rs 7.76 lakh) on his credit card loan. Priti Singh, 27, a salesperson working in Mumbai, has a similar story to share. Due to a pay cut...