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Business News/ Money / Personal Finance/  Negative information on credit report? Here's how long it says for on your CIBIL score
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Negative information on credit report? Here's how long it says for on your CIBIL score

Negative information on credit report: Late payments can remain on your CIBIL report for up to seven years from the date of the first missed payment.

Impact of negative information on credit report declines over a period of time.Premium
Impact of negative information on credit report declines over a period of time.

Negative information on a credit report refers to anything that has the potential to lower your credit score or CIBIL score and diminish your creditworthiness, making it difficult to borrow credit.

CIBIL is one of the major credit bureaus that maintains credit reports for individuals. Similar to credit reporting agencies in other countries, negative information can stay on your CIBIL report for a certain period of time. 

Negative information on credit report:

Late payments: Late payments can remain on your CIBIL report for up to seven years from the date of the first missed payment.

Defaults: Defaults on loans or credit cards can also stay on your CIBIL report for up to seven years from the date of the first default.

Settlements: If you settle a debt for less than the full amount owed, the settled status can remain on your CIBIL report for up to seven years.

Bankruptcies: Bankruptcy information can stay on your CIBIL report for up to seven years from the date of discharge.

Court judgments: Civil court judgments related to debt can remain on your CIBIL report for up to seven years.

ALSO READ: A high CIBIL score like that of Priyasha Saluja is possible with responsible credit usage; here's how

It’s important to note that while negative information stays on your CIBIL report for a certain duration, its impact on credit score declines over a period of time. 

Besides, positive credit behaviour, such as timely payments and responsible credit usage, can help improve your credit score over time.

Frequently Asked Questions:

What is a CIBIL score?

It is a three-digit numeric summary of your credit history. It ranges from 300 to 900, with 900 being the highest score.

Does the credit score get affected until the negative information is reflected on the CIBIL report?

Negative information stays on CIBIL report for a certain duration but its impact on credit score declines over a period of time.

How is a credit score different from CIBIL?

Credit score is a more generic term that refers to a numeric representation of an individual's creditworthiness. CIBIL score specifically refers to the credit score provided by CIBIL.

Do debt levels also impact the credit score?

Yes, they do. The amount of debt, particularly in proportion to your income, does have an impact on credit score.

What are the anomalies that show on the CIBIL report?

Any default, settlement, late payment, bankruptcy or court judgements are reflected on the CIBIL report for a number of years.

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Published: 08 Mar 2024, 12:24 PM IST
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