Ignoring EMI calls? Face 4 major losses, damage CIBIL score!

• Ignoring bank calls for unpaid EMI worsens financial problems instead of solving them.
• Debt increases with late payment penalties and additional interest, turning a small issue into a larger burden.
• Your CIBIL score will be severely damaged, making it nearly impossible to secure future loans or credit cards.
• Banks may involve recovery agencies and initiate legal action, leading to mental stress and court proceedings.
• Communicating with the bank can open options like loan tenure extension, moratorium, or interest rate reduction for genuine difficulties.