Credit Repair in India by Chakde Credit

 In today's turbulent economic environment, obtaining credit can be a daunting task, especially if you have a poor credit history. However, there are ways to remedy a bad credit score, which will improve the chances of getting approved for future credit. 

One of the initial steps is to request a copy of your credit report from one of India's leading credit bureaus, such as Experian, CIBIL, or Equifax. The report should show all current credit accounts, any missed deadlines or defaults, and any errors or inaccuracies that can be disputed with the credit bureau.

Keeping a good payment history is crucial to improving your credit score. Late payments can have a significant negative impact on your credit score, so make sure all payments, including utility bills, credit cards, and loans, are paid on time. 

Reducing credit card debt can also improve your credit score. Experts recommend maintaining a balance below 30% of the credit limit to maximize your score.

Working with your creditors to establish a repayment plan can also help. Speaking with your creditors and negotiating repayment terms is advisable if you're struggling to make payments. You can also ask them to waive late fees and lower your interest rates to alleviate the burden of your overall debt.

Opening new credit accounts may be tempting, believing that it will boost credit scores, but don't. Each time an application is submitted, the credit bureau will leave a mark on your credit report, implying that you were rejected. This can further delay your ability to obtain credit in the future.

In conclusion, repairing your credit score requires patience, hard work, and consistency. By following the mentioned steps by Chakde Credit and making positive changes to your finances, you are well on your way to becoming creditworthy and increasing the possibility of obtaining credit in India.

Which site is best for cibil score or how can i check my cibil score

Well, if you want to check your credit score in India first, you need to be clear about which credit agency you want to get the report from. In India we have four credit bureaus which are Cibil, Equifax, Experian, Crif Highmark. Different credit bureaus are linked with different banks, so if you are going to go to a particular bank, they will get your credit report from a particular credit bureau they are linked with. While most banks prefer Cibil credit report and score, others get Highmark and Experian credit report for credit score.

           The best place to get your accurate and up-to-date credit report is from your own credit bureau, you can get a free credit report in a year without paying anything. If you want to get it from the cibil website you need to search for free cibil report on google and it takes you to the results that say get your credit score for free on the cibil site once you clicked on that option you need to click in get my credit report and fill in the details once you filled in the details the system will ask you should you sign up for a 1 month, 6 month or one year subscription if you want to take it then click on that; otherwise you need to click the NO option thanks once you click they will show your credit score and you will be able to see your credit report from where you can download it by clicking the print option.

You can get a one-time free credit report. There are many financial institutes or fintech apps from where you can check your credit report for free such as Paisa Bazar, Bajaj, Cred and many more. They will provide you with your credit score and report for free, but it is not up to date, it may be 2 days or a month old depending on their commitment. If you want a current, up-to-date report, we suggest you pull it from the credit bureau's personal website. 

You can also contact Chakde Credit for any credit report and credit score issues. Chakde Credit provides a free credit inquiry for all first time callers.

You can also read the blog :- 5 Things You Probably Didn't Know About Coronavirus Pandemic Effect On Indian Economy.

5 Things You Probably Didn't Know About Coronavirus Pandemic Effect On Indian Economy.

Economists say that the country is facing a slowdown in consumer demand as household incomes and jobs decline and the government has limited space to stimulate growth owing to its growing debts. Between January to March, the GPS (GDP) and the ECI grew by 1.6% compared to the same period last year, driven by government expenditure and growth in the manufacturing sector, the Ministry of Statistics showed on Monday. Sakshi Gupta, the senior economist at the HDFC Bank, said that while the April-June quarters appear optimistic year on year, sequential growth is likely to contract on a lower basis. 

Moodys Investors Service lowered India's growth forecast for the current 2021-22 fiscal year to 9.6 percent, from a forecast of 13.9 percent a year ago, noting that faster import steps are crucial for India to mitigate the impact of COVID-19. The benchmark BSE SENSEX has reached another milestone, reaching an all-time high of 5,53,711 last week - almost double the level of March 2020 - With the Indian government and manufacturing losing orders in the second wave, it seems unrealistic to expect a large foreign capital inflow. 

Indian growth in the current fiscal year has been slashed by several international banks and rating agencies in the face of the devastation of the second wave of the pandemic. While the OECD's economic outlook for 2021 offers a positive outlook for the Indian economy, the new virus variants of the second wave pose a new growth risk. 

Official figures released on full-year growth released this week showed that India's economy contracted in FY21 by 7.3 percent, the sharpest contraction in the country's history. While India is expected to recover faster than the major economies in FY22, growth in the first quarter was hit hard by the second wave. 

In April, as the world began to understand the scale of India's second wave of economic growth, the International Monetary Fund (IMF) raised its forecast for India's economic growth in 2022 from 11.5% to 12.5%. Given that the figures are to be revised, the IMF's earlier forecast now appears unrealistic. 

Economists believe that the collapse of India's healthcare system and the rapid spread of the second wave of coronavirus infections will cause India's GDP growth rate to contract in 2021. On 27 March Moodys Investors Service (now Moodys) updated its estimate of India's GDP growth per capita for 2020 from 5.3% to 2.5%. On April 28, the former chief economic adviser to the Indian CEA said that the government should be prepared for a negative growth rate for FY21. 

Many credit rating agencies and banks have lowered their GDP forecasts for India in a matter of months. Economist Christophe Barraud has written an article about the downgrade of India's GDP growth rate from 11.8% to 10.2% in 2021 by global forecasting firm Oxford Economics. The collapse of the Indian health system, the rise in COVID-19 cases, India's poor vaccination rate, and the lack of an effective government strategy to combat the pandemic are cited as the main reasons for the downgrade of growth rate. 

On Tuesday, the State Bank of India (SBI) cut its 2019 year-long growth forecast to 7.9 percent from 10.4 percent previously forecast. The economic impact of the COVID-19 pandemic in India was devastating. India's March quarter (Q4FY21) saw a slight improvement in GDP growth, but economists believe this will slow in the second wave of the pandemic. 

India's growth slowed by 3.1% in the fourth quarter of the 2020 fiscal year, according to the ministry of statistics. India's top economic adviser said this was due to the impact of the coronavirus pandemic on the Indian economy. While India experienced a slowdown before the pandemic, according to the World Bank, the COVID-19 pandemic has increased existing risks to India's economic prospects. 

Emerging economies are expected to contribute 6.4 percent to global economic growth this year. The IMF's World Economic Outlook predicts that emerging markets, including India, will grow by 6.7 percent, while the global economy will grow by 6 percent in 2021. 

For example, the United States and China, India's largest trading partner, could experience supply-chain disruptions as a result of India's economic slowdown. This scenario is optimistic, but India's declining growth could have secondary effects that could have further implications for the global economy. A key medium-term risk to India’s economy remains a deepening employment crisis that could prevent India from taking full advantage of its favorable demographic situation. 

Of course, these problems existed before the COVID 19 pandemic struck in the first two waves, but the third will exacerbate the problems and have a lasting impact. The countryside, which was the saving grace of the first wave, will be affected this time.

The COVID 19 pandemic continues to affect lives and livelihoods and the Indian economy, with a devastating second wave wreaking havoc and a third wave looming. Investment and trade performance has been weak, as consumption caught fire in India during the first and second waves of the pandemic. This follows the economic slowdown in the three years prior to this pandemic. 

To understand the economic impact of the second wave, we should remember the first wave and its impact on the economy. We see the contrast between the effects of the first and second waves in the data on wage growth in agriculture. Average wage growth in the agricultural sector for the period November 2020 to March 2021 has been reduced from 8.5 percent in April-August 2020 in the first wave to 2.9 percent in the second. 

These results and the discussion on the economic impact assessment are summarized in Table 4. A summary of India's main economic indicators and forecasts can be viewed in a larger version: the biggest impact on GDP growth is expected at least for 2020-2021. 

 

As India's economy shifts from agriculture to services and manufacturing, the government must help workers transition away from agriculture, which employs a large share of the working population, especially in rural areas. The reports show that India's manufacturing and construction sectors will be the biggest drivers of growth, contributing between 9.6% and 8.5% to annual GDP growth and creating between 11 and 24 million jobs between 2023 and 2030. As India recovers from COVID-19, economists stress that large-scale investment in recovery and reforms to improve the financial health of the banking sector, if implemented, will generate stronger growth and allay concerns about a possible solvency crisis for state-owned banks.

You can read our blog  What Does A New Study Say About The Indian Financial Market In 2020-21?

Disclaimer: This information has been collected through secondary research and Chakde Credit is not responsible for any errors in the same.

You Will Never Thought That Knowing Credit Score In India Could Be So Beneficial!

 When you apply for a loan, the bank thoroughly checks the application to ensure creditworthiness and the ability to repay the loan on time. Banks and various regulated credit institutions check your credit rating before applying for a loan.

A credit score is a three-digit number between 300 and 900 and the higher the number, the better the score. Your credit score is compiled by TransUnion (CIBIL), one of the four credit reference agencies in India. The other office includes Experian and CRIF and the highest credit grade is Equifax, according to the website of credit information company TransUnion CIBILs the closer your score is to 900 the higher the chances that your credit application will be approved.

According to a Cibil survey, 62% of Indian respondents did not know that lenders check a consumer credit score to determine the terms of a loan while 63% knew that mobile operators use the CIBIL score to determine the credit limits on repaid loans. Whether a borrower will be able to meet credit requirements and loan repayment requirements of a financial institution depends on the credit rating given by the credit reference agencies.

A credit score is your financial report card and a numerical representation of your credit rating. A credit rating refers to a three-digit number between 300 and 900 that indicates your credit rating as a customer. The CIBIL score is between 300 and 900 and is considered good enough in India to accept a loan or credit card if the Cibil score is 700.

CIBIL, which is part of TransUnion, is one of the RBI-accredited credit rating agencies responsible for the creation of credit ratings for individuals and companies based on data from banks and credit institutions. A CIBIL score gives access to credit products such as loans and credit cards.

If you have a low CIBIL score, you can only take out secured loans or gold loans. In this case, your Cibil score is not required to take out a loan, as it is a security. A good CIBil, which is part of the TransUnion score, provides easy access to credit, while a low cibil (part of the TransUnion score) can make access to credit more difficult in times of distress.

Credit score and credit report are two of the most important factors influencing your lender. The credit score is one of the factors that influence the decision of a lender to approve or reject your application for a loan or credit card. A credit score measures your creditworthiness and is based on your past and present credit history.

The only reason is that the updated scoring algorithms have long monitored borrowers "behavior and have a comprehensive picture of their lending behavior. In order to maintain a healthy credit score, you must perform a check and maintain parameters to ensure that your credit score does not fall by mistake. Maintaining a good credit rating when looking for a loan will not only help you maintain general financial discipline.

In summary, the CIBIL report allows you to perform full financial checks and health checks to ensure that financial stress and adverse factors do not affect your creditworthiness. It is vital to check your score regularly if you are a good borrower and want to repay your loans on time. Please note that a drop in score will not affect customers and banks and credit institutions will be instructed to update their lending policies accordingly.

The Credit Information Bureau of India Limited (CIBIL - India's first credit information firm) collects and maintains records of loans and related transactions, such as loans and credit cards from individuals and non-individuals. These records are provided monthly by CIBIL to banks and other lenders. A credit report is a detailed record of your credit history that consists of credit card transactions, the total number of loans, employment data, and contact information.

Consumers who wish to obtain their credit reports may purchase them directly from credit reference agencies or directly from credit bureaus in some cases. Such lenders can also initiate loan reporting applications under the terms of tough investigations, which can reduce the creditworthiness of applicants by a few points.

Read the Blog about What does a new study say about the Indian financial market in 2020-21?

What Does A New Study Say About The Indian Financial Market In 2020-21?

According to some more recent reports from 2020 & Credit Bureaus Reports, India has a total of 622 million Internet users, out of which 500 million are smartphone users, which is the second-highest in the world.

Now let's take a look at the financial market.

Consumer credit markets are growing rapidly, equivalent to $ 612 billion in December 2020 at a three-year CAGR of 18 percent.

If you look at retail loans which have doubled since 2017, the increase in active retail loans is 1.7 times between 2017 and 2020.

Let's now compare different types of loans and their growth from 2017 to 2020.

Education loans remain at the same position from 2017 to 2020, which is $ 12 billion.

Home loans increase 20 to 25 percent, reaching more than $ 290 billion.

Auto loans increased by almost 50 percent, standing at $ 50 + billion.

Credit cards increase by almost 100 percent, standing at $ 22 billion.

Commercial vehicle loans increased a staggering 150 percent, which is now $ 37 billion. We can say this growth was due to the increase in demand for online taxis and buses.

Personal loans also saw 150 percent growth from 2017 to 2020, standing at $ 82 billion.

Business loans and LAPs have grown nearly 200 percent, to $ 19 billion and $ 68 billion.

Starting in 2020, Covid-19 affected credit markets and weakened consumer confidence; shows a 70% decrease in credit enquiries in the second quarter of 2020 compared to the first quarter of 2020. Consumer confidence fell 25% during the national lockdown. People in India are now more aware of credit reports and credit scores than before, a study shows a growth of almost 3 times the number of consumers checking their credit rating in 2020 compared to 2018. The consumer checks their credit scores more in 2020 than in the 2018 study that shows us that the number doubles and a person checks credit scores several times in a year. When we talk about growth in the average consumer loans taken per borrower since 2017, it has experienced a 45% jump.

This study shows us that from 2017 to 2020 the Indian market grew at a very good speed, but during the lockdown and now in 2021 it is recovering from that slowdown that occurred due to the lockdown. We can say that it will soon get back on track and will continue to grow in the future.

You can read our Blog Easy and Convenient Way to Get a Loan in India

Disclaimer: This information has been collected through secondary research and Chakde Credit is not responsible for any errors in the same.

Easy and Convenient Way to Get a Loan in India :- Chakde Credit

 With the advent of the internet, it has become much easier to find out how to get a loan in India. Before getting into the loan process it is important to ascertain the reason for your poor credit rating. There are several reasons that may lead to a poor credit rating. Among the most common are joblessness, medical bills, CCJ's or default in repayments on loans taken, and bankruptcy.

The best way of improving your credit ranking is to get the debts cleared as quickly as possible. The quickest way to get a loan in India is to use your savings. If you have some savings, it is a good idea to try and get a payday loan. Payday loans are quick and easily accessible, they carry low-interest rates and the repayment terms are quite flexible.

If you do not have any savings to offer as a security for the loan you wish to get, there are other options. For example, you can get a personal loan from your relatives or friends. You can even get a post-dated check (dated for a few days after your next payment) and use the money for paying off the loan amount. It takes time to get a loan in India but at least you can stay on track. This is important because if you run out of cash before the due date, you will be charged an extra fee.

In case you are unable to get a loan in India using any of the above methods, the best option left is to go in for a credit card. Credit cards can be used to get a loan in India only if you can prove that you have an income. The basic requirement is that you must have a valid bank account. Once you prove your identity, you can proceed further and get the loan.

The best thing about credit card loans in India is that they provide the borrower a lot of flexibility. In the case of unsecured loans, it is very difficult to predict the interest rate and get a low rate of interest. A credit card allows the lender to charge high interest and you will end up in a situation where you have to pay back twice as much as you borrowed. On the other hand in case of secured loans, the interest rate is quite low. If you can pledge the security against the loan amount then the lender will be willing to provide low-interest rates. Thus, if you have an income but do not have anything to pledge as security, you can go in for a secured loan.

However, if you do not have a credit history or if you do not have a credit card then you can get a loan in India without using a credit card. All you need to do is to open a bank account with a financial institution. Then you have to deposit a nominal amount in the account every month. Your interest will be charged according to the amount you deposit in the account every month.

Another good option to get a loan in India is to use your house as security. Suppose you are unable to make the payment on your credit card because of some reason like emergency etc., then you can use your house as security. The banks will grant you the loan at a lower rate of interest because of the reduced risk of risk to their company. The benefit of a house is that it does not require a credit check, thus, if you do not have a good credit record or if you are retired, you can use your house against the loan amount.

You can read our blog for more info about Improving Credit Score.

You can visit our Website also:- Chakde Credit

Credit Loan in India - How to Apply For an Instant Approval

 A Credit loan in India may help you fulfill your dreams, however, it will depend on many factors like your repayment capacity, your current financial state and, the requirements of your business. If you wish to apply for a loan here, the first thing you should keep in mind is how much money do you want to borrow. This is a very important factor because you will not be given any loan amount if you do not pay back the whole amount. However in case you are looking forward to getting a secured loan then you can easily get the loans, with the help of which you can meet any of your requirements.

The secured form of the credit loan in India comes into existence after the introduction of the new policies by the federal government. In fact, you can easily get a secured loan from any of the banks or financial institutions in India. But before approaching the banks for availing the loans, you should keep in mind that the interest rates charged in the secured form of the credit loan in India will always be lower than the unsecured ones.

The best option for you to get the loan is to approach a specialized lender. You can also seek help from the Internet if you do not know anyone who can lend you money. However, before getting the loan, make sure that you have a convincing repayment plan in hand. In addition, if you want to apply for a secured form of the loan, then you should keep the property that you are going to pledge as security with the lender.

In order to take advantage of the loan scheme introduced by the government, you should first find out a good lender who can provide you the right kind of loan. But when you approach any of the financial organizations in India for getting a secured form of the loan, make sure that you mention the details of your assets. It is because if you do not mention the details, then the loan amount that you are going to get will be based only on your word-of-mouth publicity.

It is also important for you to choose a low-interest credit loan from a reputed lender so that you do not have to pay excessive interest. In fact, if you are able to get an affordable loan, then it is advisable to pay as little interest as possible. This way, you can be assured that you are not paying excessive interest on the loan.

However, if you are opting for a secured form of credit loan in India, then you should have good income proof and a convincing repayment plan in hand. If you do not have these documents, then you will have to take a secured credit loan from any other financial institution in the market. In fact, there are many banks in India that are ready to offer you a secured form of credit loan at a very affordable rate of interest. In fact, if you shop online well, then you will also come across some of the most competitive rates available in the market.

It is also advisable for you to consider your short-term and long-term plans before applying for a secured credit loan in India. If you want to acquire a cheaper loan, then it is advisable to look for a longer-term loan option. This way, you will be able to pay off the loan installments regularly without much hassle. On the other hand, if you are looking for immediate cash, then you should go for a short-term loan option. As such, you will be able to avail of the loan within a few hour's time.

Apart from this, you should also make sure that you pay back the money on time. This way, you can easily build up a positive credit score. If you fail to pay back the amount, then the lender will not hesitate in reporting your default to the credit bureaus. This will definitely have a negative impact on your future loan applications. Hence, you should ensure that you never forget to repay the credit loan in India. This way, you will always get the cheapest rates of interest.

You can read another blog to understand the Indian banking system around the world and in India.

Indian banking system around the world and in India.

 Modern banking in India began at the end of-17th century, with the establishment of the Bank Of Hindustan, which was established in 17 70 and finally liquidated in 18 29 - the very same year the British controlled the Bombay Presidency. The other two were the State Bank of India (SBI) and the Punjab Reserve Bank (PRB). Today, Indian banks are grouped according to their size (banking system), thereby creating many new names for the older names such as Oriental bank, Calcutta bank, Orissa bank, Cochin bank, etc.

Besides, there are many other names of Indian banks. For instance, there is the Union Bank of India (UBI), the Punjab National Bank (PNC), the State Bank of India (SBI), etc. Each bank is unique in its way of functioning, and each one of them offers a slightly different set of services. While the biggest ones are located in Delhi, Mumbai, and Bangalore, there are several others scattered all over the country.

Bank of India was the first Indian bank to open a branch outside India in London in 1946. 

All these Indian banks, by the way, also have branches across the world. Some of them are prominent worldwide, while others are local in their location. They also cater to the needs of foreign customers through their websites. This has helped these banks to expand their business even further.

With all these branches around the world, it is important that you know the type of service that you will get, and you can select any Indian bank according to your preference. The most important thing is that you must know how much you will be paying for your transactions. Some of the banks in India also provide an online banking system, which has completely revamped the way that people carry out their financial transactions in this day and age.

One of the biggest advantages is that you will not have to go to an actual branch of the bank. All the transactions will be carried out through the internet interface of the bank website. You will also not have to fill up any paper forms or submit any papers for verification purposes. There will be only two documents to be produced and both are mandatory - the proof of your identity and your debit and credit card.

Your account is also safe and secure and hence, you will not have to worry about anything like frauds and security in your account. You also need to ensure that you are making payments on time because there are high chances of your card being declined. Delays in payment could also result in you paying extra amounts, which are absolutely unnecessary, so you pay your bills and other financial transactions on time.

Most importantly, there are many more benefits. You need to make sure that you are getting a genuine bank with highly advanced banking services. In India, there are lots of companies that provide offshore banking facilities, so you need to do a little bit of research before you open an account at a specific bank. You could also look up the reviews that the customers of different banks leave on the net and choose the best one for yourself.

Opening an account in India is something that is very easy now. The process is quite fast and some banks offer online account opening without any paperwork. Thus, it is highly advised that you talk to the financial experts at Chakde Credit and get all the required information before you start off with your new banking system. There are certain things that you need to know about this, including the withdrawal limits. However, once you open an account with a specific bank in India, you rest assured of fast and efficient financial services.

You can read the Blog on How to get Loan in India.

How To Get A Loan In India Even If You Have Bad Credit History

 If you are thinking about getting a loan in India, you must be in dire need of money. Well, there is not much need to worry. You can get a loan in India without any problem. This is because the government is ready to provide you with all the help that you may require for your small business ventures or even for your educational needs. The government is ready to provide you a loan in India even on very difficult terms.

      

To get a loan in India is not at all a big deal. All you have to do is to find the right kind of organization that can help you get a loan in India. There are many such organizations, but you will have to be very careful and conscious while choosing the right one. So, here are some tips that will help you get the loan in a short period of time.

- Try and research about the loan-providing company on the Internet. There are many companies that help people get a loan in India. Researching on the Internet can help you get a lot of information on different loan companies.

- Another important thing to do when you want to get a loan in India is to find the right kind of advisor. A lot of loan-providing companies do have advisors available for you. These advisors will help you out in a lot of ways. These advisors will try and get you into the best possible loan-providing company. With the help of these advisors, you will surely get a loan in no time.

- Look for the company that has a good reputation in the market. With the popularity of the Indian market, there are many companies that have entered the field. Therefore, if you want to get a loan in India, it is very important to choose the right kind of company. To make this even easier, do proper research and find out which company has the most positive reviews.

- Try and go for loans that offer a low rate of interest. Low-interest rates will help you in saving a lot of money that would otherwise be paid as expensive monthly installments. In addition, opting for a short-term loan will also help you save a lot of money. Most of the time, people opt for these kinds of loans because they do not have the financial resources to pay for a longer loan.

- Make sure that you get a loan from a reliable and trustworthy company. Go ahead and research thoroughly. Check if the company has a strong presence in the country. Moreover, ensure that they have dealt with the right kind of clients before.

Now that you know how to get a loan in India, all you need is to go ahead and get one. As long as you are eligible for a loan, you can easily take advantage of this type of facility offered by the country. So, take your loan and enjoy living in India. It would not only help you financially, but it would also help you psychologically, as you get to live in a country where you do not have to work too hard just to get a decent job.

- Look for an affordable repayment option. As much as possible, try to opt for a small loan amount. Of course, the bigger the loan amount, the more you will get back. If you want to get a loan in India, the country's government has various programs designed to help you get such loans easily. You can use them, to avail various government benefits, including educational grants and various medical insurances, at a very low-interest rate.

- Try to get a loan in India even if you do not own a property in the country. There are so many banks and financial institutions in the country offering such loans. Thus, try to get a loan in India even if you have a bad credit history, as you still get a chance to get approved for the loan.

You may also be able to get better terms and conditions when you apply for a loan in India. The country's lenders are highly interested in your future prospects, so they would offer you better deals if you become their customer. However, before applying for any such deal, ensure that you have thoroughly done your research and checked out the company that you plan to deal with. In case of any doubt, consult a Chakde Credit and get help from them.

You can read the blog about Improving Credit Scores - Chakde Credit Company

Improving Credit Scores - Chakde Credit Company

If you have bad credit history and are looking forward to applying for any sort of financial assistance then considering the option of getting a credit loan in India is your best bet. This is one of the most sought-after types of loans in the country today. A lot of people have to deal with bad credit in this day and age. There have been a number of advancements that have taken place in the field of finance. With the availability of various kinds of financial aids, this definitely does not mean that bad credit is the end of the road for people seeking financial assistance.

When you go in for a loan in India, there are certain things that you need to keep in mind. The first thing is that you need to understand how the credit score is calculated. When you are applying for any kind of financial assistance, your credit score is being calculated. This is calculated by credit bureaus basing on certain factors like your past record and your current record.It is also necessary that you consider your monthly income while calculating your creditworthiness. This will help you determine whether you can repay the loan easily or not. You also need to be aware of your repaying capacity as it also plays a very important role in determining your loan. Your employment status also has a great role to play in this regard. This is because employers generally prefer those individuals who have been working for them for quite some time now.

Hence, you should focus on increasing your credit score so that lenders will be more than happy to provide you with the required amount of the loan at the time of need. If your credit score is excellent then there is no need of any kind of financial assistance at all. However, if your credit score is less than perfect then you need to take the necessary steps to improve upon it. The first and the foremost thing that you can do is try to pay off as much of your debts as you possibly can.You can also make use of your credit cards and reduce your expenses as much as possible. It is true that most credit cards come with a very high-interest rate. Hence, you should try to minimize the use of credit cards. However, if you must use them then you can pay the minimum amount due regularly.The best way to improve upon your credit score is to start paying off smaller debts as soon as possible. You should also keep track of all the payments that you have made to creditors. Once you start doing so then you will be able to calculate how much extra you are making each month and can plan out your finances accordingly. This will help you get rid of your debt earlier and also improve your credit score.Not only this, but you can also consolidate all your existing loans into one and take out another loan for a bigger amount. This can help you get rid of small debts and increase your monthly income, which in turn helps in improving your credit score. When you are planning a new loan for any reason then you need to check your credit score first.

There are many organizations Like Chakde Credit that provide assistance to people with bad credit scores. They offer free counseling as well as various financial tools that can help you manage your finances better. You should definitely check out the credit report of your credit history before you apply for a credit loan in India. Not only this, you can also check out online quotes from various companies.

You can read Chakde Credit Blog for the Top 5 common mistakes found on credit reports or cibil reports.