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Don't let low Cibil score affect your employment prospects

Tuesday, November 05, 2013 by Rajiv Raj has already highlighted the importance of a credit score and implications of bad credit score on the home and car loan prospects. Keep the following things in mind while you pull out your latest credit score:

Check for errors:  The first thing you need to do when you pull out your credit score, look for factual errors in spelling mistakes and phone numbers. Also check if the loan details mentioned in the credit score is right.

Raise a dispute:  If there are any errors in the credit score, raise a dispute immediately on immediately. And regularly follow up with Cibil on the dispute raised by you.

Clear your dues:  Let us face it. Debt is a burden. A bad credit score could further your debt traps if not cleared in time. It could hamper your job prospects. If your credit score shows any uncleared dues, get in touch with company and try to negotiate terms for closure.

Arm yourself with an explanation:  Many companies allow prospective employees to explain their stance in a problem with credit score. So keep your explanation ready and handy. It could save your day.

MadanRajiv Raj

Rajiv is a credit expert with 10 years of experience in personal finance and consumer banking industry and another 7 years in credit bureau sector. Rajiv was instrumental in setting up India’s first credit bureau, Credit Information Bureau (India) Limited (CIBIL). He has also worked with Citibank, Canara Bank, HDFC Bank, IDBI Bank and Experian in various capacities.

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