Does rescheduling affect iScore? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

Does rescheduling affect iScore?

Asked by Banky team 2 months ago 1 views
Banky team Reviewed editorial answer

Rescheduling might show up in how the loan is recorded and affect your credit score, but the impact isn't the same in every case; it depends on the reason for the rescheduling, the loan's status beforehand, and how the lender notifies you.

Steps

  1. If you're a regular customer and considering a preventative rescheduling, ask your bank directly how they will record the loan in iScore.

  2. Most importantly, don't let your payments fall behind without a formal agreement.

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