News

LegalPay Unveils Debt Defense Plan to Fight Predatory Chinese Loan Apps

• ByStartupStory     |    June 9, 2024

LegalPay, India’s premier litigation financing company focusing on businesses, has unveiled its Debt Defence Plan, a groundbreaking initiative designed to assist individual consumers struggling with debt recovery and collection lawsuits.

This move comes in response to the rising number of predatory practices by Chinese loan apps that target vulnerable consumers with exorbitant interest rates and unethical recovery tactics. LegalPay is leveraging its extensive experience in litigation funding to protect consumer rights and provide a crucial safety net for those caught in overwhelming debt.

After a successful pilot campaign that resolved debt recovery lawsuits for over 1000 business clients, LegalPay is now extending its expertise directly to consumers through an innovative online dispute resolution platform. This platform promises swift and legally binding resolutions, empowering individuals to reclaim financial stability with confidence.

“Financial hardships can have a devastating impact on individuals and families. Our mission is to stand alongside individuals during their most challenging times, providing comprehensive support for all debt-related challenges,” said Kundan Shahi, Founder of LegalPay.

The Debt Defence Plan offers subscribers access to seasoned legal advisors and advanced tech-enabled platforms, ensuring efficient and effective service delivery. LegalPay’s commitment to reshaping the debt resolution landscape is evident in this new initiative.

“At LegalPay, we’re reshaping the landscape of debt resolution,” Shahi emphasized. “Our Debt Defence Plan is dedicated to delivering expert legal support and ensuring justice is accessible to all facing overwhelming debt.”

Follow Startup Story