Missing an EMI (Equated Monthly Installment) can be scary. But it’s even scarier when you’re operating based on myths and panic, not facts.
Let’s set the record straight—and show you how Vizzve Finance helps you handle bumps without breaking your future.
**Myth 1: “One Missed EMI Will Destroy My Credit Score”
Reality: A single missed EMI may impact your credit score slightly, but not destroy it—especially if it’s your first delay and you pay it within a few days.
What matters more is how quickly you resolve it.
Myth 2: “I’ll Get Harassed by Recovery Agents Immediately”
Reality: No lender starts calling recovery agents on day one. You’ll usually get polite reminders via SMS, email, or call. Legal recovery action takes weeks or months, and only in cases of wilful default.
Myth 3: “I Can Just Ignore It and It’ll Go Away”
Reality: Ignoring the EMI only makes it worse. Late fees pile up, your credit score drops, and lenders might flag your profile as high-risk. Communication is key—inform your lender immediately.
Myth 4: “My Future Loans Are Gone Forever”
Reality: You can recover your creditworthiness. Many people bounce back after missed payments. What matters is your intent and corrective action—which lenders like Vizzve actively consider.
Reality Check: What Actually Happens When You Miss an EMI
Day 1–7: Gentle reminders, no penalty yet (depending on lender)
Day 8–30: Late fee + small dip in credit score
Day 30+: EMI marked as overdue in credit reports
Day 60–90: Account may be classified as NPA (Non-performing Asset)
Beyond 90 days: Risk of legal notice, asset recovery for secured loans
How Vizzve Finance Helps You Handle Missed Payments Gracefully
At Vizzve, we understand life happens. That’s why we:
Offer grace periods for genuine delays
Help you reschedule or restructure EMIs if needed
Don’t use harassment tactics—we believe in support, not shame
Offer smart reminders and budget tools to avoid future misses
Let you build or rebuild your credit score through responsible borrowing
Final Word:
Missing an EMI isn’t the end of the world. But staying silent or misinformed can make it worse. Know your rights. Know the facts. And know that Vizzve is here to help.
FAQs
Q1. How many days late before an EMI affects my credit score?
Usually, credit bureaus are informed after 30 days of non-payment. Early communication can prevent this.
Q2. Will Vizzve send recovery agents if I miss an EMI?
No. We follow ethical collection practices and work with you to resolve delays.
Q3. Can I get another loan after missing an EMI?
Yes—especially if you clear the dues and show responsible repayment afterward.
Q4. What should I do immediately after missing an EMI?
Contact your lender (or Vizzve support), explain the reason, and request options like EMI deferment or rescheduling.
published on 2nd july
Publisher : SMITA
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