Summary Credit card settlement is one of the financial bailout sources for debt-laden borrowers allowing them to remit a lesser amount compared to the entire payable amount. It may deter legal issues and the harassment of telephone calls but does negative marks on the borrower’s credit history as well as borrowing eligibility in the future. […]
Credit Card Settlement Read More »
Summary It is important to use credit cards properly, but sometimes due to financial problems, people are not able to pay the outstanding amount on time. In such a situation, the bank provides two solutions – Credit Card Settlement vs Restructuring. Credit Card Settlement is a process in which the customer gets the facility to
Credit Card Settlement vs Restructuring? Read More »
Summary Credit Card Settlement is done when a person is unable to pay the full dues of his credit card and requests the bank to waive off some amount as relief. This may seem beneficial in the short term, but it has a negative impact in the long run, especially on the chances of getting
How does Credit Card Settlement impact future loans? Read More »
Summary A settlement of a credit card adversely impacts your CIBIL score, which makes it difficult to get a loan or an additional credit card in the future. But it is possible to correct it by following the right procedure. Firstly, you must verify your CIBIL report and contact CIBIL to correct any mistakes. Also,
How to Improve CIBIL Score after Credit Card Settlement? Read More »
Summary Credit card settlement is a process in which the bank takes a part of your dues and forgives the rest. However, this can harm your credit score and make it difficult to get a loan or a new credit card in the future. Therefore, it is important to adopt the right strategy to repay
How to do credit card settlement without spoiling your credit score? Read More »
Credit card debt can be overwhelming; for those who cannot pay, settling the debt might appear as an option. While settlement does allow you to close an account by paying less than the full balance, it has very important implications for your credit score; and understanding how will help you decide appropriately at times for
How Does Credit Card Settlement Affect My Credit Score? Read More »
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