Case Study: From Debt Distress to CIBIL Score Boost: Guiding Mr. Abhishek Pandey Financially and Emotionally

Challenge 

Mr. Abhishek Pandey, a client who enrolled with SingleDebt in August 2021, faced a profound financial and emotional crisis. Post-COVID lockdowns and the tragic passing of his mother in 2019, coupled with increased family expenses due to a newborn, left him in severe distress. He accumulated a total debt of ₹3.57 lakhs, leading to bounced EMIs and a drastically low CIBIL score. Compounding his financial woes, he endured relentless harassment, even from individuals unrelated to his loans, and lacked family support. Overwhelmed and desperate, Mr. Pandey urgently needed a comprehensive solution to escape this debilitating debt trap.

Solution 

In his search for a way out, Mr. Abhishek Pandey discovered SingleDebt via a Google search. The free consultation call with our financial advisor became a crucial turning point in his life. Upon enrollment, SingleDebt immediately took proactive steps to streamline his path to financial freedom.

Our interventions included:

• Proactive Creditor Communication Management: Within a few days of onboarding, creditor calls began to reduce significantly, nearly ceasing within two months. SingleDebt managed all communication and affordable repayment plans with the banks, providing immediate mental and emotional relief.
  
  
• Strategic Legal Intervention: Complaints were filed with the RBI against two NBFCs, leading to banks requesting the revocation of these complaints – a move that significantly boosted Mr. Pandey’s confidence in SingleDebt’s effectiveness.
  
  
• Transparent & Continuous Support: From Day 1, the process was clearly explained by the team, ensuring transparency. An Account Manager provided continuous updates, minimizing the need for Mr. Pandey to escalate issues, and ensuring a smooth, delay-free journey.
  
  
• Real-time Case Update: Mr. Pandey gained 24/7 access to SingleDebt’s secure and dedicated client portal/app. This feature provided him with real-time updates, clear documentation, and a transparent view of his case progress, eliminating any uncertainty and building confidence throughout his journey.

Results & Achievements 

Mr. Abhishek Pandey’s journey with SingleDebt yielded transformative results, enabling him to reclaim his life:

• Harassment Eliminated: The relentless recovery calls and harassment ceased completely, alleviating immense stress and depression he experienced prior to joining.
  
  
• Debt Free Status: He successfully closed all his outstanding loans, achieving a complete debt free status.
  
  
• Financial Stability: Mr. Pandey is now comfortably managing a home loan, indicating a significant improvement in his overall financial health and discipline.
  
  
• Improved Well-being: His mental health improved drastically, and he now feels both financially and emotionally stable.

Conclusion 

Mr. Abhishek Pandey’s case is a powerful testament to SingleDebt’s unwavering commitment to its clients. His journey from severe financial distress and harassment to complete debt freedom showcases SingleDebt’s transparency, clear documentation, and consistent delivery on promises. 

As Mr. Pandey himself stated, the service is “extremely beneficial for anyone facing EMI pressure and mental harassment“. This case study exemplifies how SingleDebt provides not just debt solutions, but a new beginning, restoring peace of mind and financial stability.