Finance
Mr. BillionhairMissed an EMI? The Credit Catastrophe You Must Dodge
Listen up, folks! Missing a home loan EMI? It's a total disaster! Just one day late and your credit score dives—50 to 100 points, folks! Banks love those late fees! Talk to your lender, folks! A little chat can save you big! Don’t be silent, be smart! Make your payments great again!
few days ago | Amit Kumar
Quick rundown
1.A single missed EMI can significantly impact your credit score.
2.Delays over 30 days are reported to credit bureaus like Cibil and Experian.
3.Proactive communication with lenders can mitigate credit damage.
4.Banks charge penal interest and late fees on overdue EMIs.
5.Repeated inaction on EMIs can lead to serious credit consequences.
