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One Time Settlement (OTS) is a concept where the lender and borrower mutually agree on terms to repay an outstanding loan amount. This usually happens when the borrower is facing difficulties in repaying the loan. The terms of OTS Finance can vary, but typically involve the borrower paying a lump sum that is less than the outstanding loan amount. OTS can be a good option for borrowers who are struggling to repay their loans, as it can provide relief from debt. However, borrowers should be aware that OTS can also negatively impact their credit score.