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DPD in the CIBIL Report stands for Days Past Due. This term relates to the accounts section of the credit report. It basically explains the manner in which you have been clearing your outstanding dues related to your loans and credit cards. DPD clearly explains the number of days an instalment for an EMI or credit card bill has been missed or delayed. DPD indicates the number of days a bill or instalment payment has got on a delayed.
A DPD of ‘000’ depicts that there are no payments that are due by you. It basically means that you have cleared all your dues on a regular basis and on time.
A DPD of ‘XXX’ depicts that the lender has not recorded your information for the current month to CIBIL.
It is important to comprehend that if you have a DPD other that ‘000’ or ‘XXX’ on your CIBIL Report, then it is implied that you have not been able to pay the dues related to your credit cards and loans.
If you have been making all your outstanding payments on time regularly, then your DPD will be either “000” or “XXX”.
Impact of DPD on CIBIL Score
DPD impacts the CIBIL Score differently in different circumstances. If the DPD is “000”, then it has a positive impact on the CIBIL Score of an individual. If the DPD is “XXX”, then there is no impact of it on the CIBIL Score. If the DPD is some number instead of”000”, then there is a negative impact on the CIBIL Score.
Correction of DPD entries in CIBIL Report
Borrowers do not default their payments always with an intention to do so. It sometimes happens without any intention. This happens when some unforeseen circumstances arise. These unforeseen circumstances include layoff, divorce, and bankruptcy.
Example: If an individual has lost his job and due to this, he has made a default on the credit card payments that were due in his name. Usually, he would be recommended to close the account. But doing this is not the optimal solution for this problem. In such situation, the most feasible solution is to restructure the total amount that is related to the credit card.
It is very crucial to have a CIBIL report that is healthy so that you have a good track record along with a credit history that is good.
CIBIL Report FAQs:
1. What happens to the DPD value when there is a default on a payment?
In a case of a payment default, the DPD starts getting a negative number.
2. What is the DPD when a cheque gets bounced?
If a cheque has been bounced and when a loan payment has been missed, then there will be one entry of DPD for the respective month. This relates to a value that is 30 and it depicts that the dues for that month have not been cleared.
3. What happens when you have cleared the due payment in the next month?
If you have cleared your last months due payment, then the DPD value in the next month becomes normal.
4. What happens if the due payment is not made?
If an individual has not cleared the payments that are due, then a value of DPD will increase and reach 60. This signifies that you have not cleared your dues from the last 2 months.
5. Can the value of DPD be changed?
No, the DPD value cannot be changed at all. If your lender does not find your DPD to be good, then your loan or credit card application request will get rejected. In such a scenario, you need to wait for a certain period of time until some new information is added to your credit report.
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