When will CIBIL update

[Ragul]

Hi All, I missed to repay my education loan a year ago and I came to know that, my cibil score got affected due to this. I paid all the outstanding dues and keep on paid all months as per schedule. but still scores are not improved. I roam around internet and I came to a conclusion that, cibil score will increase when I done pre closure of that loan. a week ago, I closed my education loan successfully. does anyone here have clear picture on when will this info send to cibil and when my score will increase.

 

[Chaitanya_V]

It may take couple of months and depends on banks reporting frequency...some will do every month and some do 45 days or every 2/3 months. And I don't think pre closing will improve score , just fyi although you pre closed the late payment will reflect for seven years in your credit reports.