Loan settlement is an inexpensive choice. You need to settle a loan account but lack sufficient money to repay the entire loan. The borrower pays a small sum of money, which is referred to as the lump-sum settlement, rather than the amount due. As soon as the payment is settled lender acquiesces in the settlement proposal, and declares the loan "settled." https://loansettlement8.wordpress.com/2025/06/12/understanding-the-loan-settlement-process-a-complete-guide-for-borrowers/