Now, what are the other benefits for the borrowers for going for credit settlement, apart from clearing the debt in one step? Credit settlement can wipe away all their worries and they need not to contact the bank and get harassed by loan recovery agencies for paying the dues in case they fail to make payment for even a single month! The general rule in credit settlement is that banks require their customers to pay between 60% and 70% of the outstanding credit amount to settle credit; the actual amount is usually different for different banks. The borrowers who may be willing to get their dues cleared for once and for all, should have the required amount in pocket and then contact the bank for credit settlement, which has proven to be extremely beneficial for retail consumers.