Improve your credibility after a loan settlement by following some tried and-tested suggestions

1
Tips to Boost Your Creditworthiness Following
Loan Settlement
2
Understanding Loan Settlement
It entails repaying existing debt for less than
the original outstanding balance.
3
Situations When Debt Settlement is Ideal
You are dealing with a cash crunch.
A situation of collateralised asset auction
arises because of several EMI skips.
The existing loan's EMI does not correspond to
your monthly income.
4
Loan Settlement And Credit Score
It reduces your credibility.
5
Raise Your Credibility After The Settlement
6
Check Credit Report
Periodically check your credit report for any
errors.
7
Get Credit Card
Obtain a credit card and repay the bills on time.

8
Avoid EMI Default
Never miss ongoing debt EMI
Opt for auto debit of your EMIs
9
Tips for updating your Credibility after loan
settlement
Get settlement in writing.
Request your lender to send the settlement status
to the credit bureau.
10
Credit settlement should be the last resort in
the event of a financial crisis. You can turn
your report positive in 36 months if you follow
the aforesaid steps.
11
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more- Improve your credibility after a loan
settlement by following some tried and-tested
suggestions