Why is Loan Rescheduling not that easy?
There is no certainty in life, and the same goes for our finances. Some days we may have enough, while certain situations might lead up to more expenses on other days. While this might not cause much of a problem normally, it can surely give you all-nighters if you have a loan payment coming up. Hence, to help out their clients, many private lenders and government banking sectors offer special benefits, such as loan rescheduling. During dire circumstances, such as the prevailing pandemic, Availing this has helped millions of customers safely escape from being red-flagged by credit bureaus. However, every additional benefit comes with a set of terms and conditions for their successful application. But first, let's start with understanding the term. What is loan rescheduling? Similar to what it sounds like, loan rescheduling can be defined as the act of extending the tenure of an existing loan contract. A new agreement is made with the modified dates and loan repayment amounts which