CIBIL is one of the major credit bureaus that maintains credit reports for individuals. Similar to credit reporting agencies in other countries, negative information can stay on your CIBIL report for a certain period of time.
Late payments: Late payments can remain on your CIBIL report for up to seven years from the date of the first missed payment.
Defaults: Defaults on loans or credit cards can also stay on your CIBIL report for up to seven years from the date of the first default.
Settlements: If you settle a debt for less than the full amount owed, the settled status can remain on your CIBIL report for up to seven years.
Bankruptcies: Bankruptcy information can stay on your CIBIL report for up to seven years from the date of discharge.
Court judgments: Civil court judgments related to debt can remain on your CIBIL report for up to seven years.
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It’s important to note that while negative information stays on your CIBIL report for a certain duration, its impact on credit score declines over a period of time.
Besides, positive credit behaviour, such as timely payments and responsible credit usage, can help improve your credit score over time.
It is a three-digit numeric summary of your credit history. It ranges from 300 to 900, with 900 being the highest score.
Negative information stays on CIBIL report for a certain duration but its impact on credit score declines over a period of time.
Credit score is a more generic term that refers to a numeric representation of an individual's creditworthiness. CIBIL score specifically refers to the credit score provided by CIBIL.
Yes, they do. The amount of debt,
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