2. WHAT DOES LOAN
SETTLEMENT MEAN?
It entails paying less than the amount owed to close
your loan account.
3. HOW DOES LOAN SETTLEMENT AFFECT YOUR
CREDIT REPORT?
It lowers your credit score.
The loan settlement reflects
your poor repayment
capacity.
It will be on your report for
a long time.
1. 2. 3.
1
.
4. CAN I BORROW FUNDS IN THE
FUTURE AFTER THE LOAN
SETTLEMENT?
A low credit score makes it difficult to obtain
a loan in the future.
5. HOW CAN I BOOST
MY CREDIT SCORE
AFTER SETTLING MY
LOAN?
7. AVOID OVER USAGE OF CREDIT CARDS
Never exhaust more than
30% of your card limit.
1.
8. STEP ONE STEP TWO
Since the funds are
backed by valuable
assets, lenders easily
grant secured loans.
The timely repayment of
a secured loan improves
your credit score.
AVOID OVER USAGE OF CREDIT CARDS
9. Applying with multiple
lenders lowers your
credit score due to
several hard inquiries.
LOAN APP
AVOID SUBMITTING MULTIPLE LOAN APPLICATIONS
10. Avoid going for a loan settlement if at all
possible. If you have previously chosen it, the
above tips will assist you in improving your
creditworthiness.
11. THANK YOU
WOULD LOVE TO HEAR FROM YOU.
HERO FINCORP LIMITED
09, BASANT LOK, VASANT VIHAR, NEW DELHI - 110057
TEL: 18001024145
EMAIL: CUSTOMER.CARE@HEROFINCORP.COM
WEBSITE: HTTPS://WWW.HEROFINCORP.COM/
KNOW MORE : HOW TO IMPROVE YOUR CREDIT SCORE
AFTER A LOAN SETTLEMENT?