Sir,
I have taken loan from family credit i paid only 8 EMI balance are 22 cheques are bounced how it will effect in my cibil report and now i want to settle the loan amount. what would i have to do.
Please suggest
1 Answers
Only solution to keep your CIBIL score good now would be to pay full amount due with all late payment charges. In case you settle the loan, it would reflect in your CIBIL report and it would have negative impact on any future loan or credit card application.
Also read a related article here: What your Bank will not tell you about Loan Settlement ? It hurts your Credit Score !
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