Missed Personal Loan EMI? Avoid These Mistakes to Prevent Bigger Troubles

• Inform lender immediately about financial difficulties; ignoring calls worsens the situation.
• Ask for loan rescheduling, moratorium, tenure extension, or restructuring options from banks/NBFCs.
• Negotiate a structured repayment plan or one-time settlement if your financial situation is weak.
• Prioritize partial payments to show willingness and reduce penalties/recovery actions.
• Understand the legal process; don't panic at notices, consult a financial advisor/lawyer.

Why It Matters: Timely communication and proactive steps are crucial to manage missed EMIs and protect your credit score.