New Delhi, Sept. 22 -- Clearing a pending loan is generally considered the end of a borrower's repayment obligation. However, there are several other important aspects that need attention before a loan can be considered fully closed.

One of these is the borrower's credit report. A loan may continue to appear as 'active' on a credit report for some time after the final payment has been made. Borrowers should therefore follow up with the lender and check their credit report to ensure the loan has been properly closed and accurately reported.

This is because credit bureaus rely on information provided by banks and other lending institutions. Lenders generally update information periodically, so a recently closed loan may take some time to ...