How Medical Emergencies Affect Credit Score and How to Recover
- Satyam Singh
- Jul 21
- 1 min read
Unexpected medical bills can derail even the best financial plans. Missed EMI payments on loans taken for treatment can lead to late fees and report flags, dragging down your CIBIL score. MyExcellentScore walks you through recovery steps.
Medical EMI Defaults: Immediate Impact
Each missed payment triggers a late payment entry on your report. Multiple defaults can lower your score by 50–100 points within two billing cycles.
Negotiation & Settlement Tips
• Contact lenders proactively—demonstrate your repayment plan.
• Request revised payment schedules or moratoriums under RBI guidelines.
• Get agreements in writing and submit copies to CIBIL via dispute portal.
Rebuilding Your Score Post‐Emergency
Automate Smaller Payments: Set up auto‐debits for minimal EMIs.
Secured Credit Cards: Use a deposit‐backed card to rebuild positive history.
Credit‐Builder Loans: Platforms like MoneyView offer small personal loans with guaranteed approval for rebuilding credit.
Conclusion
Medical emergencies shouldn’t leave a permanent dent in your credit. With timely negotiation and disciplined repayment, you can restore a healthy score. Discover custom recovery plans at MyExcellentScore today.
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