One cannot simply overstate the
importance of CIBIL Score in the country to determine creditworthiness against
individuals. This score is a 3-digit number ranging between 300 to 900, given
by CIBIL, which represents past credit behaviours. A higher score gives a
better chance for a borrower to negotiate for good terms in a loan; whereas a
low score would be detrimental to a very good prospect for the initiation of
the loan. Therefore, some CIBIL score repair agency has mushroomed, claiming to
assist people with score improvement. Whereas there is some reputed CIBIL score repair agency to genuinely help you to overcome the problems related to CIBIL
score.
A
CIBIL score repair agency that improves CIBIL scores renders various services as
followed:
- ·
Credit Analysis: Analysing
credit reports to identify elements that negatively affect the score.
- ·
Dispute Resolution:
Assisting clients to get their credit reports corrected through communication
with banks and financial institutions.
- ·
Consultation on Debt
Management: Advice on managing loans and credit cards to avoid defaults.
- ·
The Financial Planning
Aid: Helping clients to build better financial habits, such as timely payments
on bills and low credit utilization.
- ·
Communicating with
Lenders and Credit Bureau: A CIBIL score repair agency will communicate with
lenders regarding clearing unwarranted charges or amending debt repayments,
they can communicate with credit bureaus also, for any further actions required.
Some CIBIL score repair agency works
genuinely, while many are scammers that promise quick fixes, most often illegal
under the banking laws. Thus, it is wise to exercise caution and engage only
honest financial advisors and directly visit banks for suggestions to improve
their scores.
A person may improve his/her CIBIL score without relying on CIBIL score repair agency by adopting a range of measures:
- •
Timely payment of EMIs
and credit card receipts.
- •
Credit mix should be
made to maintain a fair balance of secured and unsecured loans.
- •
Low credit utilization:
Try to limit usage of a credit card to below 30% of the total credit limit.
- •
Check your credit
report: On a monthly basis for correctness and rectification of any discrepancies.
- •
Avoid applying for
multiple credits: In a span of six months for loans or credit cards as this
would adversely affect the credit score.
One of the
reputed and trustworthy CIBIL score rectification agencies is Naskar Financial
Services, with experience and knowledge of more than 8 years in CIBIL report
rectification and score improvement.
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