cibil score

How does foreclosure of loan impact your credit score?

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How does foreclosure of loan impact your credit score?

Foreclosure may have an adverse and lasting impact on your credit score. But first of all, let us understand what a foreclosure is. It refers to a legal process in which a lender attempts to recover the unpaid loan from a borrower by forcing the sale of asset that was given as the collateral. This … Read more

CIBIL: What is credit mix and how does it impact your credit score?

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CIBIL: What is credit mix and how does it impact your credit score?

Credit mix refers to the variety of credit accounts you have on your credit report. These include car loans, credit cards, student loans, personal loans, among others.  Having a diverse mix of credit accounts shows to lenders that you can handle different types of credit in a responsible fashion. Impact on credit score Credit mix … Read more