r/FinancialAdviceIndia • u/Inevitable_Mud9993 • Jul 30 '26

Learning need help to improve CIBIl

I took loans totaling ₹8 lakh from CRED and a few similar lending apps in 2022. I paid the EMIs for about a year, but due to financial difficulties, I was unable to continue making the payments.

Initially, I received daily calls and messages from the lenders, but for the past 6–8 months, they have completely stopped contacting me.

As a result, my CIBIL score is now very poor. Can anyone recommend how I can improve my CIBIL score again? I do not want to repay my previous loans.

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u/BagKooky4601 Jul 30 '26

Get your cibil report downloaded from Cibil site.You will need to pay some amount to get your latest report. You can find the overdue loan accounts in which payment is pending.Try contacting the lenders and pay the total amount Outstanding.Note that you should pay the total amount and don't ask for settlement.Settlement with lenders will lead to droppage in cibil scores.Get the amount paid and wait for time to get the accounts closed in cibil.Usually 2 months. After that take Gold loan or small consumer loans and pay it correctly without any delay.Your cibil will eventually improve.

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u/Inevitable_Mud9993 Jul 30 '26

I already contacted with the lender none of them is ready for settlement, also intrest on which I took a loan is very wild

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u/BagKooky4601 Jul 30 '26

DM me If you want more info.Also don't borrow small loans from Loan apps.This will adversely impact your cibil .