If you’ve gone through a loan settlement, you may be wondering how to rebuild your credit score. It’s true that settlement affects your credit report for a while, but it’s not the end of the road. In fact, it can be the beginning of a better financial future — if you take the right steps.
At Loanifyr, we not only help you settle your loan, but we also guide you on how to recover and grow again.
Step 1: Make Sure Your Loan Is Fully Close
After the loan settlement, confirm that your bank or credit card company has issued a No Dues Certificate. This document proves that your account is settled and protects you from future disputes or legal issues.
Step 2: Check Your Credit Report
Get a copy of your credit report from CIBIL or any credit bureau. Make sure the loan is marked as “settled” and not “written-off” or “default.” If you notice errors, Loanifyr can help you raise a correction request.
Step 3: Start Small and Pay On Time
Apply for small credit products, like a secured credit card or a consumer durable loan. These are easier to get approved for after a settlement. Make sure to pay the full amount on time every month — this slowly improves your credit score.
Step 4: Avoid Taking Too Much Credit Again
Just because your old loan is settled doesn’t mean you should rush into new loans. Focus on rebuilding your credit history with careful spending and regular payments.
Step 5: Keep a Low Credit Utilization Ratio
If you get a credit card again, don’t use more than 30–40% of the limit. This shows that you’re responsible and helps increase your credit score faster.
Loanifyr helps you not just with loan settlement or credit card debt settlement, but also with post-settlement recovery. We guide you through rebuilding your credit step-by-step.
You can recover. You can grow. You just need the right support. Visit www.loanifyr.in and let us help you move forward with confidence.