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The CIBIL Score and Report provide a credit summary, including a score and credit history, to help people and lenders assess financial risk and make informed decisions.
CIBIL Error Rectification enables individuals to fix any errors in their credit report, ensuring that their credit information is accurate and reliable for better financial evaluations.
A loan or debt with a "Written Off" status has been designated as unlikely to be recovered by the lender, generally owing to non-payment or default by the borrower.
A "Settled" status in a credit report indicates that a borrower has paid off a debt by agreeing to a partial payment or settlement amount, typically resulting in a lower credit score.
A wilful defaulter is someone who intentionally avoids repaying a loan despite having the means to do so.
Amount overdue refers to money that was supposed to be paid by a specific date but has yet to be paid.
Late payments are defined as the failure to make planned payments for loans or services by the due dates.
A suit-filed account is one in which legal action is taken against a debtor because of outstanding bills.
Loan negotiations encompass discussions aimed at mutually agreed terms for borrowing funds
Credit inquiries occur when lenders or others check your credit report to assess your financial stability.
A credit score is a numerical representation of your creditworthiness. Lenders use it to assess your ability to repay loans. A higher score can lead to better loan terms.
If you find errors in your credit score report, contact the credit bureau to dispute them with supporting documentation.
Repairing a low credit score involves paying bills on time, reducing debt, and managing credit responsibly. Over time, these actions can boost your score.
Yes, a low credit score can make it harder to get approved for loans and may result in less favorable terms.
Credit utilization, the ratio of credit used to credit available, influences your credit score and how lenders perceive your risk when applying for loans.
It’s possible, but loans with bad credit often come with higher interest rates and stricter terms. Improving your credit before applying is advisable.
