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Steps to Fix Your CIBIL Score After Missed EMI Payments

1. Confirm the Issue is Resolved:

   • Ensure the auto-debit mechanism is now working correctly. Test it by keeping sufficient funds in the account and verifying that the next EMI is successfully processed.

2. Pay Missed EMIs Immediately:

   • If you haven’t already cleared the two missed EMIs, do so as soon as possible. The longer they remain unpaid, the more damage they can do to your score.

3. Obtain a No-Objection Certificate (NOC):

   • Once the missed EMIs are paid, request a No-Objection Certificate (NOC) or a written confirmation from the bank stating that the missed payments were due to a technical error on their end and not a lack of funds.

4. Dispute Errors with CIBIL:

   • If the missed EMIs were caused by the bank’s error, you can file a dispute with CIBIL to get the negative marks corrected. Attach supporting documents, such as:
     • Bank statements showing sufficient balance during the EMI dates.
     • Communication with the bank manager acknowledging the error.
     • The NOC from the bank.

How to Raise a Dispute with CIBIL:

• Visit the CIBIL Dispute Resolution page.
• Select “Dispute an Item” and provide details of the erroneous report.
• Attach all relevant documents and submit the dispute.

1. Monitor Your CIBIL Report:

   • After resolving the issue, regularly check your CIBIL report to ensure that the correction is reflected. This may take 30–60 days after the dispute is resolved.

2. Request a “Goodwill Adjustment”:

   • Contact your bank and request them to inform CIBIL to remove the missed payments from your credit report as a goodwill adjustment. Mention your long-term relationship with the bank and the fact that the missed EMIs were not your fault.

3. Maintain Consistent Payments Going Forward:

   • Keep all future EMIs paid on time to build back your credit score. A few months of consistent payments will help your score recover gradually.

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Additional Tips to Improve Your CIBIL Score

1. Avoid Applying for New Loans/Credit Cards:

   • Refrain from applying for any new credit until your score improves to avoid further hard inquiries on your credit report.

2. Reduce Your Credit Utilization Ratio:

   • If you have other credit cards or loans, try to keep your utilization below 30% of your credit limit.

3. Set Up Alerts for EMIs:

   • Use mobile banking alerts or reminders to ensure timely EMI payments in the future.

4. Track CIBIL Report Regularly:

   • Check your credit report every 3–6 months to monitor any changes or errors.