Over the past month, I have been making most of my EMI payments a day or two after their due dates. Unfortunately, it seems I may have to do the same this month as well. Last month, all the financial institutions and banks graciously waived the ECS mandate charges and late fees, and my credit score remained unaffected.
However, I am concerned about whether this continued delay in payments might impact my CIBIL score negatively moving forward.
These delays have been due to unforeseen circumstances:
1. My primary bank account, which is also my salary account, has been frozen due to an unauthorized transaction.
2. My salary has been delayed for the past two months, leaving me in a difficult financial position.
The loans I have been paying after the due dates include:
MobiKwik
AU Small Finance Bank
Liquiloans from Federal Bank
Amazon Pay Later (managed by Axio)
I am deeply concerned about maintaining my credit history, which I have built diligently over the past four years. Any guidance or suggestions on how I can manage this situation effectively and minimize any potential impact on my credit score would be greatly appreciated.
However, I am concerned about whether this continued delay in payments might impact my CIBIL score negatively moving forward.
These delays have been due to unforeseen circumstances:
1. My primary bank account, which is also my salary account, has been frozen due to an unauthorized transaction.
2. My salary has been delayed for the past two months, leaving me in a difficult financial position.
The loans I have been paying after the due dates include:
MobiKwik
AU Small Finance Bank
Liquiloans from Federal Bank
Amazon Pay Later (managed by Axio)
I am deeply concerned about maintaining my credit history, which I have built diligently over the past four years. Any guidance or suggestions on how I can manage this situation effectively and minimize any potential impact on my credit score would be greatly appreciated.
