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What is CIBIL report ?

by Manish Chauhan · 1,148 comments

What is CIBIL report ? Are you looking to check your credit score and want to know why your loan application was rejected ? Yes, if you are misusing your credit taking capacity, you are being watched at like never before in this country. I am talking about CIBIL here and in this article let me show you how your current behaviour related to credit card, personal loan, home loans are going to affect you in future in a good and bad way. Also see 2 real life cases where a person’s loan application got rejected because of Bad CIBIL report and how they didnt even knew about it ! .

CIBIL Report

What is CIBIL and why you should be concerned ?

CIBIL is Credit Information Bureau of India Limited, which acts like a central repository of credit information in India. As many as 500 different banks and financial institutions are CIBIL’s clients and they report each of their customers (like me and you) actions to them.

So if you take a credit card from ICICI Bank, then ICICI bank reports to CIBIL about it. If you enquire about car loan to HDFC Bank, hold your breath! as even that enquiry is reported to CIBIL, if you can’t pay your EMI for home loan with SBI Bank for a particular month, that also gets reported to CIBIL.

Not just your bad actions, but even your good actions like paying EMI’s on time, paying credit card with punctuality also gets reported with CIBIL. You can see that this way, a history is maintained at CIBIL for each person, which can be good history or bad history depending on the case and this information is very useful for banks to decide if they want to give loan to you in future or not. All the banks are now looking at CIBIL report before taking the decision.

Good and Bad credit Report

CIBIL report is not always bad. It’s an extremely good concept which is now taking shape in India recently. If there are two people A and B and A is a good guy and B is a bad guy, obviously A should get better rates of interest, faster processing, first right to loan. Whereas, guy B should get loan at higher rate of interest (because he is risky) and may be banks can even deny entertaining him at all.

CIBIL gives us the power to build our credit report. So if you become responsible and use your credit effectively and with planning, you can build a good credit history with CIBIL, which will help you in long run. Also note that taking a lot of loans without having the capacity is also a negative thing and that can affect your credit report.

CIBIL Report

I would like to warn you that you have to be super sensitive and careful with credit card and loan repayment, because one small mistake or being lazy in this area can cost you a lot. I would like to share some instances of readers who faced a lot of issues in area of getting loans and finally they checked their CIBIL report and found that they were having bad history

Some bad experiences from readers

Rajaram mentions on our forum how his home loan payment was rejected because of his credit card late payment issues

I had two credit cards one from HDFC and other one from ABN AMRO.

In case of ABN AMRO, salesman told me that if I do purchasing of Rs.1000 within 1.5 month then the annual fees will be waved off. As per his instructions I did purchasing of Rs.1000 within that stipulated time frame. But still I got a bill with annual fees after a month. Hence I complained to the Call center executive gave the brief about my complaint. I also told him that I will be paying the amount which was spent by me and according I paid it through cheque. No further transactions done through the card and subsequently told them that I am returning it to them. But later on bills started coming with annual fees with charges. I again informed the call center executive and told him that I am not going to pay the annual fees which wasn\’t there. Later on bills stopped coming.

In HDFC case I had used this credit card for one year and in one month while paying the dues I dropped my cheque in their drop box 3 days prior to due date. When next month\’s bill received it came with late fee charges. I contacted to call center executive and told him that I had dropped my cheque 3 days in advance then how come this charges. He said it received 2 days later than my due date as was not having any proof I could not prove it. I paid the amount due to me excluding the charges. 2-3 month they sent the later but later on they stopped sending bills.

Above two instance happened to me and had forgotten also. But this year when I applied for Home loan from one of the housing bank then suddenly they put down one condition to give clarification about Credit card issues. They got this information from CIBIL which I was unaware of.

Now I need help to come out of this issue so that my housing loan clearance will be faster.

How Nihal credit report got messed up because he gave his pan card to his friend

One of my friends took a car loan from a nbfc 3 years back and he wanted a reference for this loan (i now realize there is no such thing as a reference for a loan) i obliged and gave him a duplicate copy of my pan card.

For atleast 2 years i have been applying for credit cards and getting rejection letters from all the banks. I finally was fed up with this and decided to get my cibil report and was shocked to see that i was the co-applicant for the car loan my friend had taken 3 years back. He had defaulted on this loan which was reflecting on my cibil report and that being the main reason for me not getting any credit card.

Like i mentioned earlier i had given my friend a copy of my pan card but i had never signed any loan application form, so i followed up with my friend (who still claims that i was supposed to a reference for this loan) and also with the customer care at the NBFC (who i must say were extremely rude). I managed to get the loan application form from the NBFC and i’m a cent percent sure that my signature has been forged on the form. Now my friend (would not want to call him a friend anymore) claims that the person who gave him this loan never told him about me being a co-applicant and he always thought i was only a reference.

How Ganesh faced issue with CIBIL report because of his credit card outstaning bill

Yes, I checked my cibil report last month because i had a suspicion and it was proved right.i had a c/card from icici which for a meagre sum of rs.2000 which i lost track because i was transferred to different city and didnt notice the bill. i also didnt use the c/card at the new place, as i had another card with c/limit of rs.45,000 which i started to use(sbi).

after 7 months, when i tried using the card again, it was getting rejected. when i checked with icici, they said the card is blocked. then only i came to know of the card outstanding, which by this time due to interest, and fine/charges etc had come to about rs.4000. Immediately, it was settled in full and closed the c/card a/c.

Now my cibil report shows “810″ with “history of more than 6 months outstanding 7-12 months back”

i feel cibil should consider the fact that the outstanding was settled in full – including fine/interest/etc…. and give a good score….

so i feel the system is flawed and i am paying a price for it.

my other loans – 2 wheeler loans and other sbi c/card a/cs – was showing prompt payment, either payments finished or under regular payments.

i dont know why i am still given a defaulter score when i have settled in full.

is there any way to reset my score with cibil.. pls advise…

How to get your CIBIL Report Offline

There are two kind of reports which you can get from CIBIL . The basic one is called CIR Report which is nothing but a basic information on how is your credit history and what kind of information is there with CIBIL . This is called CIR report and it costs Rs 142 . This is good enough if you just want to check your status with CIBIL .

Update : Now you can also apply for your CIBIL Report Online

The second thing which you can get from CIBIL is your Credit Score which is called as CIBIL TransUnion Score and ranges from 300 – 900. This is number which scores your credit ranking . A lower number means your credit score is bad and you will be considered as Risky ! . If its 900, you are doing great, Higher the better . The cost of CIBIL TransUnion Score along with your CIR report would be Rs 450 . I would say this is not at all expensive if you can get this vital information at such a cost . If you are facing any rejection for loans or if you fear that your past history can haunt you , then its a good idea to check the CIBIL report each year and find out how does it look like. I have created a step by step procedure for you on how to apply for CIBIL report . Have a look

CIBIL Report

Can you fix the CIBIL report have wrong Information?

A lot of times Banks makes mistakes in Cibil Report and it is mostly manual mistakes or lot of times delay in communicating the details . If you check your CIBIL report and find out any problems , please ask your bank to communicate it to CIBIL as soon as possible . Also if based on your CIBIL report, if you clear some loans , make sure you ask your bank to communicate to CIBIL that you have cleared the liabilities , so that it can get updated in CIBIL report. CIBIL report is your lifeline for future , don’t do anything which makes its dirty, else that will affect you in long run .

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{ 1148 comments… read them below or add one }

1 Alex July 21, 2011 at 12:00 pm

Hi Manish,

As usual a wonderful article, didnt know about this, it was an eye opener.

Thanks,
Alex

Reply

2 Manish Chauhan July 21, 2011 at 8:28 pm

Alex

Good to know that it was an eye opener for you . Now open your friends eyes , forward this article to all your friends .

Manish

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3 GAJENDRA November 1, 2012 at 10:11 pm

Is it safe to apply online for CIBIL report? When I was reading a review about CIBIL in mouthshut.com, I came to know that many people have received CIBIL report.

Pls help me in getting CIBIL report.

Recently I had applied for Kotak credit but it was rejected. When I checked with the customer care of Kotak they said it was due to CIBIL Score.

Reply

4 Manish Chauhan November 2, 2012 at 11:03 am

Yes you can apply for it, at times the payment fails or authentication fails and at times there is genuine issue in getting it late , but it does not mean you dont do it . Its just like another service.

Manish

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5 Asha October 3, 2013 at 7:00 pm

Hi Manish,

I came across your site a week back and in this one week I read almost all the articles. I learnt so many things here. Thanks a lot, you are doing a great service..
I don’t have any kind of loans and never used credit cards. Today my home loan got santioned. I just want to know will I have a CIBIL report ? If yes, what would be present in there?

Regards
Asha

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6 Manish Chauhan October 7, 2013 at 8:00 am

Yes, you will have a CIBIL report soon . Let your bank start sending the updates to CIBIL . Check after 2 months . CIBIL report will have your 3 yrs history on payments

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7 Deepu July 21, 2011 at 12:05 pm

Hi Manish,

I have been following your articles for the last 6 months… was lazy to register till now…Finally, I decided to signup….

As usual another nice and relevant article from you. Till now, I haven’t subscribed to any of the credit cards nor I have taken any loan. Do I need to apply for CIBIL report?

Thanks,
Deepu

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8 Manish Chauhan July 21, 2011 at 8:45 pm

Deepu

NO , if you have not taken any debt , then you dont need to apply for CIBIL report. there wont be any history for you .

Manish

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9 Hem July 30, 2011 at 7:24 pm

Hi Mansih,

Thanks for one more wonderful article.

Does mere use of credit card will affect the credit score? Do you suggest not using credit card at all even if the dues are paid on time? Which is better, not having any credit or paying dues on time and having a better score? What do banks consider?

Thanks,
Hem

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10 Manish Chauhan August 4, 2011 at 7:01 pm

Use of credit card will affect the credit score , but not always negative way . If you use it right way , it will help you build a good history

Manish

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11 Aparna September 29, 2011 at 3:44 pm

Hello Manish,

Not having any credit card or any open line of credit does not help you in improving your credit profle. Having a credit line and paying on time is the best available option you have to get good credit score.

Regards
Aparna

Reply

12 shailendra J. Soni May 12, 2012 at 2:14 pm

Dear Manish,
Please Give me my Cibil History i want to know my score so i will apply my home loan.in past my laon is rejected. My Pan Card No.:BILPS0841P . I will purchase home. How to remove in cibil give suggestion please sir it is very important to me

Thanks,

shailendra jashvantlal soni
Padra — Dist : Vadodara ( Gujarat)

Reply

13 Prashant July 21, 2011 at 2:55 pm

Hi Manish,

As always a nice article from you , i just followed the procdure and applied for getting my cibil report .Will be sending the documents asap.
Thanks for guiding us on the procdure to get CIBIL report

Keep up the good work !!!

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14 Manish Chauhan July 21, 2011 at 8:48 pm

Prashant

Good to know that . Let us know when you get the cibil report , how was it .

Manish

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15 Prashant July 22, 2011 at 10:29 am

Sure Manish will let you know how it was …

Prashant

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16 Prashant July 27, 2011 at 5:58 pm

Hi Manish/All,
How many days it takes for the CIBIL report to arrive to our address ,i couriered the documents today morning.

regards
Prashant

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17 Manish Chauhan July 29, 2011 at 11:51 am

Pashant

I am not sure of that . but it should not take a lot of days ,. may be a week or 2 week

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18 Young@Market August 5, 2011 at 4:44 pm

Hi,
It took exactly 14 days for mr to get the CIBIL report after I send them the details….. I was lazy to check it (I had one old HSBC credit card, which was closed after they charged me annual fee…. issued to me saying no annual fee…. while closing told that they are waiving off the annual fee..).. Thank god.. everything is alright it seems…. no bad history :-).. Thanks Manish.. ur article made me do it now…..

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19 Manish Chauhan August 6, 2011 at 10:44 pm

Rajum

thanks for sharing your experience :)

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20 Prashant August 12, 2011 at 5:37 pm

Received the CIBIL report today, will share with you once i go through the report in details

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21 Manish Chauhan August 15, 2011 at 9:42 am

Prashant

Sure .. will look forward to it

Manish

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22 vinay May 8, 2012 at 2:27 pm

hai
what credit rating in cibil , how to give the ratin on different assets please tell me

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23 senthil kumar August 21, 2012 at 12:23 pm

Hi Manish,

Your service is really appreciated ! I have read your articles and one of my LIC agent is brain washing me to take “Jeevan Tarang ” or “Jeevan Anand ” , but i have refused it and i have opened the PPF account in SBI and depositing 5000 per month .

Now i am looking for a Health Insurance and Life Insurance , in one of your post ,you have mentioned that you have taken “aegon Religare ” life cover for 11 k per year .My age is 24 , am planning to marry around the age 27. please suggest some more good financial plans.

Heartly Thanks,
Senthil

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24 Manish Chauhan August 22, 2012 at 7:04 pm

If you are just talking about life insurnce , then you can go ahead with the aegon religare or other companies term plan !

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25 senthil kumar August 22, 2012 at 7:07 pm

But in the IRDA claim-settlement ratio is low for Aegon Religare ! what about the health Insurance ?

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26 Vishnu July 21, 2011 at 3:08 pm

Hi Manish,

Good one. What banks/financial institutions are currently having tie-up with CIBIL?

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27 Manish Chauhan July 22, 2011 at 10:54 am

Vishnu

Almost every institutions you can think of report to CIBIL , the number is around 500+

Manish

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28 Aparna September 29, 2011 at 3:46 pm

Hello Vishnu,

CIBIL has most of the banks and financial institutions contributing their data including large cooperative banks. CIBIL website provides comprehensive information about the number of members and shareholders information.

Regards
Aparna

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29 Furqan July 21, 2011 at 3:11 pm

I understand that besides CIBIL another agency has also began maintaining credit records recently. Does any one have any idea about it ?

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30 Furqan July 22, 2011 at 10:02 am

I have found another credit bureau viz Experian, that maintains credit records and issues an individual’s credit information report just like Cibil.

More info: http://www.experian.in/consumer/index.html

I am not aware whether report from both the agencies will be the same. If not, then we need to get report from both of them to ensure good credit rating.

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31 Manish Chauhan July 22, 2011 at 10:57 am

Furqan

total 4 agencies have got the license , but for now only CIBIL is the major one . I would recommend that you consider CIBIL only for now .

Manish

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32 Jitendra Solanki July 21, 2011 at 3:17 pm

Hi Manish,

A very nice info.

Just to share- If someone has loan/CC outstanding and he moved out of the address, then CIBIL will send you information only at the address registered with your creditors.This means you need to first update your new address with creditors and then CIBIL will send you the report.

This live experience i got from one of my client.

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33 Manish Chauhan July 22, 2011 at 10:58 am

Jitendra

So are you saying that a person can get his report only on his registered address with CIBIL and cant give another address at the time of requesting it ?

Its actually a good move from CIBIL , that it protects the CIBIL report of a person , it cant get in other hands in any way

Manish

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34 Jitendra Solanki July 23, 2011 at 11:12 pm

Yes Manish,

If you have change address and hasn’t updated with your creditors then CIBIL does not provide you the report on new address unless it gets updated with your lenders.

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35 Manish Chauhan July 24, 2011 at 2:27 pm

Jitendra

Thats actually a very nice thing . That makes the whole process more good

Manish

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36 Arijit January 19, 2012 at 1:22 pm

Hi,

This is not correct. CIBIL asks for a address proof of yours while sending you your details. This address need not be the same as what exists with the financial institutions. Live example.

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37 Manish Chauhan January 20, 2012 at 11:46 am

Arijit

Thanks for that informaiton :)

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38 Nilesh February 2, 2012 at 9:32 am

Dear manish pl replay in how to chek in cbill report plsend your mobiel number & am personaly talking in my c bill replt
nilesh

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39 Manish Chauhan February 2, 2012 at 2:40 pm

Nilesh

You can apply online and check it : http://www.jagoinvestor.com/2011/12/get-cibil-score-online.html

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40 Sunil Shetty July 21, 2011 at 3:19 pm

Hi manish.

Such a wonderful article.

Let me know, what happens in case you’ve done the Credit Card Settlement. Is it consider viable?

And how often Cibil updates their information itself after what interval?

Thanks

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41 Manish Chauhan July 22, 2011 at 11:00 am

Sunil

Yes , if you have settled your credit card payment , then Bank should update this info with CIBIL and your report should reflect that . but there are cases when banks are not that fast in reporting it and its does not reflect in the CIBIL report . So its suggested to look at your CIBIL report each year and take corrective measures . Ask your bank if they have not updated some information with CIBIL

Manish

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42 Aparna September 29, 2011 at 3:48 pm

Hello Sunil,

Yes, credit card settlements are viable option in India. If you approach your credit card provider they will provide you the settlement plan based on your outstanding and current status etc.

Regards
Aparna

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43 kapil July 21, 2011 at 3:41 pm

Does savings bank a/c info is also shard with CIBIL ?
I have a SB a/c with a bank which shows some penalty amount for not maintaining the minium amount. will it affect my credit score ?

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44 Manish Chauhan July 22, 2011 at 11:01 am

Kapil

No , CIBIL report is going to have your entry only when you take some loan , saving bank account is totally yours and it has nothing to do with CIBIL

Manish

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45 Raja July 21, 2011 at 3:47 pm

CIBIL is doing as it was expected to do over a period of time.

But only thing which i feel sad about is all these talks of giving better interest rate to better customers has remained talk for the last so many years.

I think CIBIL and banks have conveniently forgot to act on this promise of theirs.

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46 Manish Chauhan July 22, 2011 at 11:02 am

Raja

Yea .. i dont see that happeneing at the moment , but you know these processes and concepts , its a very new thing in India and it would take time to make the whole process flow clear and smoother . I see it happening in next 3-4 yrs

Manish

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47 Hem July 30, 2011 at 7:03 pm

When one of my friends went for a home loan, bank said there was nothing like better interest rate but credit score only helps them to process the application faster.

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48 Manish Chauhan August 4, 2011 at 7:03 pm

Hem

May be right now .. but in future (4-5 yrs) , things will change .. in US people will good credit score get better interest rates

Manish

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49 Ujjwal July 21, 2011 at 3:57 pm

Manish,

Great info. I live in UK and here they maintain a credit history report for each person in a central data base. You need this for anything even to rent a house. To get a good score you need to
1. Regularly pay rent / utility charges through direct debit from your bank a/c. Thus they suggest you pay the rent / charges through your bank a/c instead of paying by cash etc.
2. Settle all loans and any disputes do not just stop paying the overdue amounts as banks will show the outstanding amount for ever.
3. Duration of transaction is very important thus using credit card for long period even if you do not need any overdraft and can pay the dues within a month is better than using the cash option as it creates credit history.

I’ll also narrate another story which happened with one of my team members. This person was selected for a onsite role in my project. My company provides a GBP travel card which allows us to draw cash anywhere in the world. Our Perdiems are credited in that card and we can get cash from any ATM outside India. So, this person comes to UK and he was expecting his Axis Bank travel card to be credited with one month’s perdiem and some loan which our company gives us through Axis bank to cover House rent Advance.( You need to pay 45 days rent as advance to get any house in UK). But Axis Bank refused to issue his their travel card as his CIBIL report shows that he had taken an credit card 3 years back which he did not pay up. He told me that he was sold the credit card saying there was no annual fee but one year he has charged a annual fee which he refused to pay. He contacted the bank and followed up for months and then just cancelled the card and forgot about the incident. He received payment requests from the bank for one year or so and then it stopped. However, this action landed him into deep trouble in a foreign country when he was almost close to securing a house and needed the Axis Bank Travel card where my company would give him the advance.

So all your readers should take the Credit rating very seriously as all Banks are now interrelated and with your PAN number it is very easy to cross reference even though your address may change.

Ujjwal

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50 Malti July 21, 2011 at 4:17 pm

Hi Manish,

What to do if bank sent some wrong information to CIBIL.

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51 Manish Chauhan July 22, 2011 at 11:06 am

Malti

It can happen sometimes and in that case you need to take up the issue with bank and CIBIL

Manish

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52 Manish Chauhan July 22, 2011 at 11:05 am

Ujjwal

Thanks for sharing your friends experience with Axis Bank , it shows how banks in India are getting very strict about credit history :).

Manish

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53 dipz September 21, 2011 at 3:52 pm

i don’t think this is possible. Travel card of any bank (AXIS or someone) is not a credit. Your company instead of Foreign currency in cash/Traveller check is giving you travel card, so it is no way a credit.
Please check the facts. Your friend is very wrong on the concept.

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54 Aparna September 29, 2011 at 3:40 pm

Hello There,

In case you have any issues associated with CIBIL report and looking out for solution to resolve, strengthen your credit score and overall creditability

RectifyCredit –
•Identify Issues / Negatives in your credit report
•Provide consultative guidance to individuals for building and improving their credit profile
•One stop shop for all credit issues

Regards
Aparna

Reply

55 Mukunth July 21, 2011 at 4:14 pm

Quite a lot of loopholes here…I applied for my report, sent all relevant documents and got a reply that the address doesn’t match with their records and asking me to submit fresh proof of address. I live in a rented house and have changed thrice in the last 8 years – how will I even know what address is there on their records ?

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56 Manish Chauhan July 22, 2011 at 11:17 am

Mukunth

The records which CIBIL has is same as your bank , because its given to CIBIL by banks , first change your address with Banks and only then it will get updated at CIBIL , look this comment by Jitendra : http://www.jagoinvestor.com/2011/07/cibil-report.html#comment-25183

Manish

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57 kumar May 29, 2012 at 2:15 pm

@Manish
It doesnt seems so. I applied a CIBIL report but they came back with address not matching information. Even though i provided them with the latest bank statement ??

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58 Manish Chauhan May 29, 2012 at 9:32 pm

that means the bank has not updated the CIBIL your new address , check this with your bank

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59 Archana July 20, 2012 at 9:28 pm

I have few credit cards which i have not paid for past few years . Can u please suggest if i make the total outstand payments or i settle for some amount which bank suggests. would i eligible to take any loans in future . If yes how much time does it to update in the CIBil.

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60 Manish Chauhan July 21, 2012 at 3:11 pm

You should be paying FULL amount , not settlement – http://www.jagoinvestor.com/2012/03/loan-settlement-hurts-cibil-report.html

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61 Anand July 21, 2011 at 5:02 pm

Why are there two different addresses for speed post and registered post?
What’s the logic ?

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62 Manish Chauhan July 22, 2011 at 11:20 am

Anand

I am not sure ..

Manish

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63 Gowri July 22, 2011 at 1:53 pm

probably because the speedpost can just get dropped off into a drop box or mailroom or something, but registered post requires a human being to sign for it and the acknowledgement form — may be have a different place where humans are available to sign…

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64 raju July 21, 2011 at 5:11 pm

Hi Manish,
Very informative article again.

Regards,
Raju

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65 Manish Chauhan July 22, 2011 at 11:23 am

Raju

Thanks :) . Keep telling your friends about this article

Manish

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66 Anand July 21, 2011 at 5:31 pm

Manish,

This is regarding the “CIBIL TransUnion Score”. You say that it ranges from 900 to 3000. But the cibil site (https://www.cibil.com/d2c/accesscredit.htm) says that it ranges from 300 to 900.

You say that the least the better and cibil says that the more the better.

Am I missing something? Please clarify.

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67 Manish Chauhan July 21, 2011 at 5:40 pm

Anand

Thanks for that correction , Actually It was ETWealth which mentioned the range as 900-3000 and I was reffereing to that . Not sure how they made this mistake :)

Manish

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68 Anand July 21, 2011 at 5:48 pm

Thanks for the clarification, Manish!

This (getting CIBIL report) was long pending from my side and I tried just now and cibil site failed in taking me to netbanking of ICICI bank.

Hope they improve!

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69 Manish Chauhan July 22, 2011 at 11:24 am

Anand

I am sure they will improve .. it happens with various ecommerce portal . I would recommend not getting stopped ,just try it once more

Manish

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70 Ram July 21, 2011 at 7:13 pm

Hi,

Will the information in CIBIL be available for lifelong or will they refresh at any point of time? I heard that after a break of 7 years your information is removed from CIBIL… is it right?

Heard that CIBIL is now being replaced…Any idea?

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71 Manish Chauhan July 22, 2011 at 11:26 am

CIBIL is not being replaced. but some new org are getting licence for doing the credit rating just like CIBIL . where did you see that info is removed from CIBIL in 7 yrs ? I am not aware of this .

But the data in CIBIL is totally dependent on banks reporting , so whatever banks tell CIBIL ,CIBIL believe that .

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72 Aparna September 29, 2011 at 3:42 pm

Hello Manish,

There is no plan of RBI for replacing CIBIL as an organization. The plan is to increase the number of credit bureaus in India and its already in action. RBI has approved 3 new credit bureaus in India – Experian, Highmark and Equifax.

write to me in case you need any additional information

Regards
Aparna

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73 Anshuk July 22, 2011 at 1:50 am

Fantastic post. I will try this once I am back in India.

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74 Manish Chauhan July 22, 2011 at 11:27 am

Anshuk

nice .. let us know once you do it .

Manish

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75 Chennaivaasi July 22, 2011 at 8:34 am

Manish – Good article. I was aware of this and had requested a CIBIL report back in Jan 2010 :-) To my surprise, I was reported as a defaulter for my American Express Credit card (CC).

Here’s my story, the gentleman (was he really one???) that sold the CC promised that the first year fee is waived. When I saw the charge and called him up, he promised that he has sent an email and it should be waived. In the meanwhile, I was paying in full whatever I spent but the annual fee was getting compounded. Finally, I cancelled the card with the annual fee + interest outstanding (circa mid 2004). I got a letter requesting for one time settlement in late 2005. I called them up to explain and refused to pay.

In my CIBIL report, I was reported as a defaulter by AMEX in November 2009 (what a timing of my report). How cruel they are to report a incident of 2004 in late 2009.

Thankfully, since then I have received approval for a home loan thanks to unblemised other credit card records.

CIBIL is a good idea, its implementation as with several schemes in India is highly flawed. RBI’s intention was to establish a setup similar to credit bureaus as in the USA, other western countries.

Now my cents,

As is prevalent in USA, every one should be entitled for a free annual credit report upon request.

Requesting, receiving credit reports online should be made possible (providing a valid credit card for authentication can be made mandatory to keep a check on the genuineness of the requestor, a cap of 10 reports per card/holder kind of thing can be done)

Bad remarks should be wiped off once in every seven years (a person should not be made to suffer for long for his/her one off mistake or at least no more than once in 7 years :-))

Whenever a bad remark is loaded to an individual’s history, the individual should be notified and given reasonable time to provide his side of the story and resolved to the satisfaction of both the parties or at least the individual (customer rights you see :-)

When an individual is denied credit/loan based on his/her credit history, a free copy of the credit report based on which the decision was made should be provided.

RBI should seek and publicise report from member banks on the concessions (lower interest rate, no/less processing charges, other facilities etc.,) that they have provided to customers with higher score/better history. This will not only deter public from defaulting but also incentivise them to be more disciplined financially.

Overall, RBI should launch an extensive campaign to make users aware of CIBIL’s existence similar to SEBI’s investor education initiatives.

BTW, I was expecting an article from you on Demat accounts for insurance policies :-))

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76 Manish Chauhan July 22, 2011 at 11:30 am

Chennaivaasi

Thanks for sharing your experience and all the suggestions you have put in the comment , I am sure that in coming times our whole process will mature from this point

What was that demat account for insurance policies ? I dont think its there in India at the moment ?

Manish

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77 Chennaivaasi July 22, 2011 at 11:33 am
78 Manish Chauhan July 22, 2011 at 1:44 pm

Will look into it . I think its still at discussion levels .

Manish

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79 Bala July 22, 2011 at 10:37 am

How back does this credit history go? I have a credit card for 8 years, will I be able to see 8 years of my credit history?

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80 Manish Chauhan July 22, 2011 at 11:31 am

Bala

I am not sure , but banks much have all the data from last 8 yrs and I am sure they would have reported this with CIBIL also ,the best way to know this is to actually get your CIBIL report

Manish

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81 Vivek Rastogi July 22, 2011 at 1:33 pm

Hi Manish,

Really a good article. I know about cibil from last 10 years when cibil implementing the process with banks. But yes Credit History for Banks is good as they are having numbers of defaulters now a days and I witnessed in many cases. Last month I visited I inquired for home loan with a bank, where manager is my friend, as per procedure he take my CIBIL report and I was wondering that CIBIL is implemented by Govt. is successful. Bank is getting benefited with less numbers of defaulters.

Even in CIBIL report Banks also knows that where and which Financial Institution the applicant has inquired for loan. In my case one ICICI home loan has inquired 3 yrs back. But I never inquired with ICICI for home loan. This also impact your loan proposal.

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82 Manish Chauhan July 22, 2011 at 1:43 pm

Vivek

Yes .. I have mentioned in the article that the enquiries which one does for loan also get updated in CIBIL . Good to know about your personal experience

Manish

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83 Suhail December 29, 2011 at 1:47 am

Hi Manish,

Is there a co-relation between the enquiries about loan getting updated in CIBIL and scores being low. I means will this inquiry really effect the credit score? If yes why?

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84 Manish Chauhan December 29, 2011 at 8:56 am

Suhail

No , this should not affect the score

Manish

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85 Manu July 22, 2011 at 3:51 pm

Thanks for the article Manish.Initially when I was reading this article I was not that serious about the report. But after reading individuals comments I fully understood the importance of good credit history. Also I fuly agree with all the cents of Chennaivaasi. [May be one hack] Those who have bad credit rating can apply for HUF and then start fresh with the HUF..not sure though

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86 Manish Chauhan July 23, 2011 at 11:06 am

Manu

Good .. Now I suggest u also build some credit history for future

Manish

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87 Bhaskar July 22, 2011 at 4:55 pm

Hi All,

Indeed a good article as always and it has come out finally. I had some tough time in the past due to the CIBIL report.

I was outside India till 2008 and when I returned I was in Delhi. I applied for credit cards mutliple times, but none got approved and I think the basic reason was I didn’t had any credit history with CIBIL even after having a nice experience and working in a good company.

Later in 2009 I bought a house for my parents in Hyderabad on there name (mistake: I was never able to get a home loan on it and even today I pay the full tax amount applicable in India). Since it was on my parents name the home was disapporved and I had to take a personnel loan of 4lacs (I pay an interest of 21.25% on it). I ran pillar to post for the 4 lacs loan (my intial demand was 5 lacs and thanks to one of my friend who helped me with 1 lacs) and no bank approved it. Every broker asked for credit card or previous loan history, which I didn’t had.Finally one of the broker got it done but at a big cost.

Recently I moved to Hyderabad and as part of my current company everyone gets a Citibank credit card. Even I applied, but didn’t recieved it and I reapplied. In one of my communication with citibank they told me about Cibil report. I followed the above process, got my Cibil report and asked the Citibank for the defaulter case in that as there was none. Citibank refused to comment and said they can’t share the reason. I think it was my personal loan history due to which my credit card request was not approved.

Some time back I applied for Standard Chartered and SBI Credit card, both got approved and I have the credit cards. It’s because of my good history in Cibil report and am happy about it.

Something I want Cibil to improve upon is to charge a subscriber once and make the Cibil report online. Each time giving the details and paying the money is waste of time and not worth, unless I miss some point on why is it so.

Thanks,
-Bhaskar

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88 Manish Chauhan July 23, 2011 at 11:04 am

Bhaskar

Yes .. its a good idea of Pay once , see your cibil report always .. but I am not sure how many would like to do exactly that and how feasible it is for CIBIL to make that infrastructure .

Thanks for sharing your Experience .. its very valuable for other readers :)

Manish

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89 PARIT PANWAR July 22, 2011 at 11:04 pm

Hi manish,
To share my experience on CIBIL report,recently around 30th May 2011,I applied for the report to check the status as some objections raised by the bank , where I applied for a home loan. These are the experiences since then with CIBIL.
1. Amount Rs 450/- got paid online and the reciept for the same sent along with the identity documents , I got my report within 12 days .
2. Every Report carries a unique Control number ,this number can be quoted over the phone (022-61404300) with CIBIL representative to clarify some information in the report further.
3. Report only carries the Institution name and the last few digits of the loan number and account numbers .For identifying the branch we can call CIBIL to gain information further.
4. One can report gaps through the Dispute form ,available on the CIBIL website.
5. I am still waiting for reply from CIBIL for clarifications ,as they had already sent the concern’s to the respective banks . Delay happens from the bank side ,where information not sent timely to CIBIL for updation .Though , i have got the NOC from banks on the closure of the loans applied earlier.
6. CIBIL reverts you with the updated status of the dispute raised ,as they receive it from the respective institutions , I had got one confirmation for the correction and the updation in my report.

Overall,the information given in the article is very effective and thanks for providing these important and effective information regularly.

Parit

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90 Manish Chauhan July 23, 2011 at 11:01 am

Parit

thanks for sharing those information from your experience .. really appreciate it .

Manish

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91 piyush kariya July 22, 2011 at 11:37 pm

dear manish sir,

hello sir i am piyush kariya residence at porbandar gujarat i have taken personal loan in h d f c bank last 2 yrs back and some 5 or 6 installment was bounced due to some resons so i have complited my loan before 1 yers back and bank aslo give me to a N O C . so tell me my name is in cibile or not ?

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92 Manish Chauhan July 23, 2011 at 11:00 am

Piyush

Yes , your name should be in CIBIL as “defualter who paid back” . So in a way its mentioned in CIBIL that you didnt pay your loan and then later paid back . so my suggestion would be to check it .

Manish

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93 Ganesh July 23, 2011 at 11:04 am

Hi Manish,

Yes, I checked my cibil report last month because i had a suspicion and it was proved right.

i had a c/card from icici which for a meagre sum of rs.2000 which i lost track because i was transferred to different city and didnt notice the bill. i also didnt use the c/card at the new place, as i had another card with c/limit of rs.45,000 which i started to use(sbi).

after 7 months, when i tried using the card again, it was getting rejected. when i checked with icici, they said the card is blocked. then only i came to know of the card outstanding, which by this time due to interest, and fine/charges etc had come to about rs.4000. Immediately, it was settled in full and closed the c/card a/c.

Now my cibil report shows “810″ with “history of more than 6 months outstanding 7-12 months back”

i feel cibil should consider the fact that the outstanding was settled in full – including fine/interest/etc…. and give a good score….

so i feel the system is flawed and i am paying a price for it.

my other loans – 2 wheeler loans and other sbi c/card a/cs – was showing prompt payment, either payments finished or under regular payments.

i dont know why i am still given a defaulter score when i have settled in full.

is there any way to reset my score with cibil.. pls advise…

rgds,
ganesh

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94 Manish Chauhan July 23, 2011 at 11:10 am

Ganesh

I think you should talk to your bank and ask them to tell CIBIL to update your entry as FULLY SETTELED .. It happens that banks do delay in communicating things to banks ..

Right now , I would say the processes are getting mature and over time it will get better .. There is no alternative than being alert at the moment .

Manish

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95 loka reddy July 14, 2012 at 5:33 pm

hi i need the some help i was applied for credit card for hdfc bank as per the got information my card has been declined , Because of my name in cibil pls can u help me how to know cibil amount & cibil score also

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96 Manish Chauhan July 17, 2012 at 11:20 am

Just apply for a cibil report first and check what is it saying

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97 chetan savjani July 23, 2011 at 9:27 pm

respected sir.

i have taken morgage loan from boi. before 3 yrs ago that account was NPA AND SUI T FILE for that account. but now its regular . but still my status shown in cibil is old. i want to remove my name from cibil so what should i do ? i m ready to close that account.

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98 Manish Chauhan July 24, 2011 at 2:29 pm

Chetan

you should follow up this with your Bank , ask them to update the new status with CIBIL , be serious about it

Manish

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99 Lakshmi July 23, 2011 at 10:45 pm

hi Manish

Thanks to you fro such informative articles..i am regular reader in your blogs and articles like these are very useful…I just wanted to check with you one 2 points…I hold a separate loan a/c and my husband has a separate loan a/c and we together have a loan a/c.So should i apply for Cibil report inidividually?

thanks
Lakshmi

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100 Manish Chauhan July 24, 2011 at 2:28 pm

Lakshmi

Yes , there is nothing like CIBIL report for couples , each person has its own report , Even if you guys had a common loan account ,there would be seperate report for you both

Manish

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101 smitha July 24, 2011 at 7:42 pm

hey nice article again…had a query but it got answered by just reading the comments :-))…keep up the good work

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102 smitha July 24, 2011 at 7:42 pm

hey nice article again…had a query but it got answered by just reading the comments :-) )…keep up the good work

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103 Manish Chauhan July 26, 2011 at 11:02 am

Smitha

Good to hear that :) . Keep reading

Manish

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104 Prasoon July 25, 2011 at 11:17 am

Nice article Manish (as usual)! Just wanted to share my experience here.

I use to request for my CIR after every 6 months. I have been doing this since last two years. It helps me in checking if everything (loan/card opening/closing is updated correctly. Most of the times it is updated in correct way.

First time when I applied for CIR, I found 3-4 mistakes.
1) LIC home loan acount was appearing twice. – For this I contacted CIBIL, and asked them to update it.
2) One HSBC credit card was showing outstanding of some 6000. Basically this card was upgraded from silver to gold (and now platinum) years back. Difficult to track, but because I had never defaulted on any payments -I was damn sure that it could not be my mistake. – For this I contacted HSBC, it took some time for them to realize. But finally they updated it to CIBIL.
3) One HDFC PLCC (Personal Loan to Credit card) was showing (-1) balance, i.e. they needed to return me 1 Rs. – For this I contacted HDFC, and they confirmed that they needed to refund that one rupee indeed. Got that amount in one week, and they updated to CIBIL as well.

When I requested for CIR again after two months, all three details were updated.

Now, what difference did it make?

Earlier it was showing 4 Credit cards and 3 Loans as NON-ZERO balance account on the first page of the report. After change it was – 2 Credit cards and 2 Loans as NON-ZERO balance, which was correct at that time.

My current score is 810, and I am trying hard to make it as closer as possible to 900.

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105 Manish Chauhan July 26, 2011 at 11:03 am

Prasoon

Good to hear your experience :) . It will really help a lot of people .

Manish

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106 allthecrap July 25, 2011 at 12:47 pm

Hey,

Can you tell me if CIBIL reports also take input from Telecom companies and Brokerage houses? (Or is it just restricted to Banks?)

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107 Manish Chauhan July 25, 2011 at 10:47 pm

Its only restricted to those institutions which gives you loans or you need to pay off some payment

Manish

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108 Varun July 26, 2011 at 10:42 am

Dear Mr. Manish

I am one among the many who have a bad rating according to banks. I had 3 cards. One from HSBC and 2 from ICICI until 2 years back. Due to over spending and bad management i had missed many payments and finally took a personal loan and settled the HSBC card for about 35K and the ICICI for about 25K. I had completely missed the 2nd ICICI(o/s 4K) card because of an issue with their customer rep who had tried some dirty tricks with me. And recently i called up ICICI bank gave certain details and was informed that they dont have any records of me having a card with them. But when i applied for a car loan and a personal loan, i was denied on the basis of the CIBIL report. My questions are:

1.) If i get a CIBIL transunion report, in what way will it help me with these card issues?
2.) Wont these settlements make a difference to the banks while offering loans?I always submit my settlement letters, still get rejected.
3.) What should be my next course of action?

Rgds
Varun

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109 Manish Chauhan July 26, 2011 at 10:47 am

Varun

If your CIBIL report mentions about the ICICI credit card , then ICICI cant deny of having any records , they need to mention about it .

1) CIBIL report is just for you to get information . Now as you have it , you know what are the issues
2) Sorry to say , but you are going to bear the brunt of this for quite some time now . Once you messed up your history, you will be looked down by these companies in giving loans, but as a restification , the first thing what you should do is Completely pay off all your debt , request your banks to update CIBIL about your payments and ask CIBIL to mark you as “Debt paid off” , so that you atleast become a little cleaner . After doing this , again ask for CIBIL report after few months and check that the changes are reflecting in the CIBIL report .
3) Never ever take credit for granted :)

Manish

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110 Brij Mohan July 26, 2011 at 5:34 pm

There are certain banks which are so strict on their policies that is becoming like customer unfriendly banks.
UnknowinglyI had some bad debt with my Citibank 4 years back, as soon I they called me up, I settled the dues and cleared my name.
Last year I requested my CBIL Report also, and its neat and I dont have any bad debt now infact I have a excellent Credit History.
Last year I applied for Car loan and recently I applied for life time free Credit Card from Citibank, they simply rejected my application giving reference to my previous settled dues of Citi card. Currently I am priviledge customer of Citibank. But still according to their policy I once you availed the settlement from any Credit Card or from any Bank throught your life you cannot apply for any Credit facility from Citibank.
Do you think this policy makes any sense, or is it Justified?

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111 Manish Chauhan July 26, 2011 at 8:37 pm

Brij

Not sure .. it would depend on bank policy , it might have happened that they faced a lot of issuies with clients who had settled claims .

Manish

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112 C Subramanian January 15, 2012 at 7:23 pm

Change the bank my friend.

In Nov when Citibank and many US banks started charging for debit card ($5/month), even US customers started moving on to local banks who provided better banking at cheap rates.

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113 Surya July 26, 2011 at 8:32 pm

Cibil details(defaulters) hw long reflecting in the cibil history any idea coz my brother is in cibil list pls reply for the same

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114 Manish Chauhan July 26, 2011 at 8:35 pm

Surya

It will be there for couple for years .. atleast 9-10 yrs .. ask your bother to clear off the loan and then ask CIBIL to update it to clear

Manish

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115 Prasoon July 27, 2011 at 2:38 pm

Consider this case-
I took a loan (10000) and now unable to pay it. Current outstanding is 8000, but I go for settlement. It gets settled after paying 6000, and I become black-listed in CIBIL for some 7-8 years. Now after 1 year my financial position improves dramatically. Can I contact my bank for paying them remaining amount (8000-6000 = 2000) + interest (if any)? Will they accept payment? If yes, will this action clear my name immediately?

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116 Manish Chauhan July 27, 2011 at 2:47 pm

Prasoon

Yes, you cna pay off them later and even CIBIL will be updated ,but I am not sure if you will be marked as fully clean .
Talk to your bank on this

Manish

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117 Prasoon July 27, 2011 at 2:49 pm

Hmm.. right. Thankfully this is not a case with me. Just wanted to know about it.

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118 Rishi July 28, 2011 at 12:36 pm

Hi Manish,

As usual an excellent article & nicely written , icing on the cake is all those comments & experience shared by various readers which further helps building your knowledge base on the subject . This is the USP of JI….

Truly the more you share your knowledge the more you gain ( It seems >Newton’s law: Every Action will have equal and opposite reaction applies here as well ).
Also just a thought , In future isn’t it a good idea to have individual credit ratings by some centralised body e.g RBI ( The way CRISIL does for companies)based on how efficiently and honestly one pays his EMI’s,Utility bills,taxes etc in a time frame . Incentivising individuals with good rating by govt.,banks will motivate individuals to pay all their dues on time ( Just think how drastically our economy improves if everybody is honest and punctual in paying their taxes ,dues ..banks save hugely on recovery & follow up cost whcih they can use to benefit the customer).
Bottomline is a framework which appreciates an honest and responsible citizen and rewards him accordingly .

Best Regards
Rishi

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119 Manish Chauhan July 29, 2011 at 11:43 am

Rishi

Thanks for your appreciation . Yea .. unless we have more comments and sharings of others . this place wont be as exciting as it is right now

Manish

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120 pramod July 28, 2011 at 3:46 pm

Hi Manish,
Very nice article again. I have had my CIR about 2 years back. But it did not show my Home loan A/C. After talking to CIBIL, I went to bank and asked them to communicate my loan/credit history to CIBIL. The bank assured my that it was already communicated. My loan A/C closed this Jan. I also have a credit card, the outstanding is paid in time always. Once again, I am planning to check my credit history with CIBIL. Please suggest if CIR will be good enough in my case?
best regards
pramod

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121 Manish Chauhan July 29, 2011 at 11:41 am

Pramod

You mean your “good history of paying loan on time” was absent from CIBIL report ? Right ?

Manish

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122 pramod July 30, 2011 at 9:51 am

yes, MANISH. The loan account was not even mentioned. Now I have a credit card- outstanding being paid in time. Should CIR be enough ?

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123 Manish Chauhan August 4, 2011 at 7:19 pm

Pramod

Yea you should look at CIR and see if that bad entry is removed, but a good thing would be to also know your credit score .. just 450 bucks !

Manish

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124 narasimha July 29, 2011 at 5:40 pm

Hi,

1) Does Losses from margin trading and future/options trading carry forward to the next year?
2) If yes which ITR to use?, i have income from Salary, Loss from House property and Loss from Trading/FnO.

thanks,
Narasimha

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125 Manish Chauhan July 29, 2011 at 8:33 pm

Narasimha

1. NO
2. ITR-4

Manish

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126 Narasimha July 29, 2011 at 9:29 pm

Thanks Manish.

Sorry for posting this in un-related article.

I have a doubt If the losses can’t be carry forwarded then why ITR4? I think ITR2 is sufficient. Why i’m saying this is i don’t see any item like ‘Income from Salaries’ in ITR4.

thanks,
Narasimha

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127 Vivek Gupta July 31, 2011 at 4:12 pm

Manish,
I have one query. I recently applied for personal loan and they told me that my CIBIL score is minus 1. I do not have loans or credit cards. I mean no credit history till date.

What does minus 1 CIBIL score signify ??

-Vivek

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128 Manish Chauhan August 1, 2011 at 8:21 pm

Vivek

I never heard of minus 1 score in CIBIL , no idea . May be it means , there is no history !

Manish

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129 Gaurav November 17, 2011 at 4:53 am

Yes Manish,it indeed means no credit history.Its mentioned on their site now

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130 Manish Chauhan November 17, 2011 at 11:07 am

Yea

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131 Sandeep July 31, 2011 at 9:09 pm

Hi Manish

A nice article and inspired to get my CIBIL score card :)

I want to request CIR report from cibil.com.
During online form and payment I noticed that we can only request for CIBIL TransUnion Score. So if one require CIR report then one should make DD of 142 rs and send form via courier/speed post.

Please let me know if I am wrong!

Thanks for information,

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132 Manish Chauhan August 1, 2011 at 8:17 pm

Sandeep

Is that the case . I dont think so .. many people have got their CIBIL scoreo nly .. you can make the payment for any of them . See the process given in the website .

Manish

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133 Prasoon August 3, 2011 at 5:33 pm

According to CIBIL website, you need to send – Demand Draft (DD) of Rs 450/- for CIBIL TransUnion Score + CIR OR Rs 142/- for CIBIL CIR in favour of “Credit Information Bureau (India) Limited” payable at Mumbai.

However, I could not find any mention to request for the score only.

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134 Manish Chauhan August 4, 2011 at 11:08 am

Prasoon

No there is nothing like request for score only , its either CIR or “Score + CIR”

Manish

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135 prashanth July 31, 2011 at 10:39 pm

hai manish

how can i clear my previous debts so i want avail home loan pls help me on this and hw to get the information from which bank do i hav a cibil problem

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136 Manish Chauhan August 1, 2011 at 8:14 pm

Prashanth

The first thing is to apply for your CIBIL report and see where is the issue .. then clear off your loans and see that its updated in the CIBIL records .

Manish

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137 Anand August 3, 2011 at 2:37 pm

Hi Manish,

My CIBIL score is 788; I am planing to apply for Auto loan. Will there be any problem?

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138 Manish Chauhan August 4, 2011 at 11:09 am

Anand

No , i dont think so 788 is pretty good .. If you didnt had any bad experience, then there should not be much issue

Manish

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139 BKM August 3, 2011 at 10:08 pm

Hi Manish,
What about review some Stock recommending services (both paid & free) in this “product review” section ? Though I am not sure if they can be classified as “product” or any other legal implications.

Thanks
BKM

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140 Manish Chauhan August 4, 2011 at 11:06 am

BKM

I am not sure if you really want those kind of reviews .. also there are not many big players in “tips” .. you can read my review of stockezy here : http://www.jagoinvestor.com/2009/12/review-of-stockezy-com-a-social-investing-community.html

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141 Amit August 4, 2011 at 11:56 am

Hi Manish,

One query regarding credit card bill payment.
Generally, around 3 weeks grace period is given for making bill payments. And in order to manage financial requirements, we tend to make payment once the grace period is about to end. Does credit card issuing bank have problem with this attitude of customers? Will this impact CIBIL Score?

Regards,

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142 Amit August 4, 2011 at 12:56 pm

to update on this, i have done bill payment before the grace period ends, everytime…

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143 Manish Chauhan August 4, 2011 at 1:36 pm

Amit

I think the grace period is not bad thing , mainly when a customer defaults from that date when company starts labeling them as defaulter

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144 ankit August 4, 2011 at 12:26 pm

I have requested my CIBIL report last month and got to know that my loan accounts from Canara Bank which I settled in Oct, 2007 is showing pending in CIBIL report. After following up with the Canara Bank, they admitted it and sent a recent update to CIBIL. Hopefully, my CIBIL report is corrected now.
Thanks.

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145 Manish Chauhan August 4, 2011 at 1:37 pm

Ankit

yea .. very common thing . Dont rely on fate , better take your report again after 1 month and check if things have gone better .

Manish

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146 Prashant August 4, 2011 at 9:51 pm
147 Prashant August 4, 2011 at 9:53 pm
148 Manish Chauhan August 4, 2011 at 10:06 pm

Prashant

Does it have some other information whcih this article does not contain ?

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149 Shivraj S Ghorpade August 5, 2011 at 9:13 am

Hi all,

Just wanted to confirm that do we loose credit points if we request our Credit report from CIBIL ?

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150 Manish Chauhan August 6, 2011 at 10:50 pm

Shivraj

What do you mean by “Loosing credit points?” , what credit points ?

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151 Karthik August 5, 2011 at 1:42 pm

Hey Manish,

Is this CIBIL listed?.. Looks like it has a fantastic moat.. Would love to own the company :)

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152 Manish Chauhan August 6, 2011 at 10:46 pm

Karthik

NO they are not listed

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153 Romit Barat August 5, 2011 at 5:36 pm

Hi Manish,

I have setlled my credit cards as per the settlement terms and amount set by the bank. Is this will affect negatively i my CIBIL report?

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154 Manish Chauhan August 6, 2011 at 10:35 pm

Romit

yes, the thing is your CIBIL account will still show that you defaulted and then cleared the loan , its like abbusing some one and then saying sorry .. even though you settled things, but you did default .. so take this thing seriously in future.

Manish

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155 jay August 7, 2011 at 4:32 pm

hi manish
i want to know my track record with cibil its possible to free we saw our record? or its chargeble? or tell me full procedure to customer how to know his track record?

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156 Manish Chauhan August 9, 2011 at 9:06 pm

Jay

Go through the article .. the procedure and cost is mentioned

Manish

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157 BigB August 9, 2011 at 3:00 pm

Hi Manish,

I had a loan for my bike of 24 EMI and failed to clear last 3 EMI for month Jul to Spet 2009 ( still those are not cleared). After that I took personal loan of 1.5 Lakh from HDFC and I asked about my CIBIL report to HDFC executive and he told me report was clear. I am having PL of 1.50 Lakh and 7 Lakh HL from HDFC and not a single EMI is bounced yet. Now I have applied for HL in LIC. What do you think of my CIBIL report? Will I get that loan from LIC?

Reply

158 Manish Chauhan August 9, 2011 at 8:28 pm

BigB

Looks like your Bank has not reported your case to CIBIL till now , it may happen if bank trust you depending on your past relation , I suggest you clear off your loan before its reported to CIBIL . I cont comment on LIC loan

Manish

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159 KRaj August 10, 2011 at 3:03 pm

I had two credit cards and I took a personal loan from HDFC in 2009 and i have been paying the EMI reguarly
but regarding credit card I had also paid reguarly but some times
I had missesd out some payment for both the cards due to some problems
but after that i have made full payment(not settlement) for the icici cc in 2010 and for hsbc I made full payment(not settlement) in 2011
and closed both the cards and I got the NOC from ICICI bank and asked NOC to hsbc bank they will provide me after some days.
so my concern is will my name remove from cibil? will I get good score in cibil? will I get the HOME Lone from bank?
and will i get the credit card from any of the bank?
I have not missed out any EMI for my PL from 2009 to till date and I dont have any CC right now.
so suggest me for this situatios about my questions

Thanks!

Reply

160 KRaj August 10, 2011 at 3:16 pm

Updated from me

if suppose i am defaulter right now in cibil, just i would know that when I will be marked as fully clean IN CIBIL as per my above comments?

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161 KRaj August 11, 2011 at 11:57 am

Hi Manish,

Please provide me your comments as per my above comments.

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162 s.deivasigamani August 11, 2011 at 12:03 pm

Eye opener! Couldn’t come at a better time…

Thanks a lot Manish and team///

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163 KRaj August 11, 2011 at 12:42 pm

Hi Manish,

not getting what u were saying?

Reply

164 KRaj August 11, 2011 at 12:44 pm

Hi Manish,

Please provide me suggestion actually I am not getting what u were saying

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165 KRaj August 11, 2011 at 7:53 pm

Hi Manish,

I had two credit cards and I took a personal loan from HDFC in 2009 and i have been paying the EMI reguarly
but regarding credit card I had also paid reguarly but some times
I had missesd out some payment for both the cards due to some problems
but after that i have made full payment(not settlement) for the icici cc in 2010 and for hsbc I made full payment(not settlement) in 2011
and closed both the cards and I got the NOC from ICICI bank and asked NOC to hsbc bank they will provide me after some days.
so my concern is will my name remove from cibil? will I get good score in cibil? will I get the HOME Lone from bank?
and will i get the credit card from any of the bank?
I have not missed out any EMI for my PL from 2009 to till date and I dont have any CC right now.

Reply

166 Manish Chauhan August 15, 2011 at 9:49 am

KRaj

It depends if HDFC reported your not paying of EMI to CIBIL or not , and more than that did they communicate that you cleared off that now .

Check your CIBIL

Manish

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167 KRaj August 16, 2011 at 11:24 am

Hi Manish,

Thanks for your reply but I did not missed EMI for my HDFC PL.
I have mentioned details in above comments.
So my question is if my name is in CIBIL, will it remove?
will I get the HOME Lone from bank?
and will i get the credit card from any of the bank?
Please reply…
Regards,
KRaj

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168 Kiran August 16, 2011 at 6:04 pm

Hello Manish,
I have become regular reader of this site off late.I have put some queries in forum and was responded back within short period.Thanks for the same.As a matter of fact, after reading thru’ many of ur articles/comments, I have decided to buy Term insurance plans, called up to check my current SIPs in MFs(as I was not checking regularly), decided against putting money into any Jeevan Sarals or Dream Child plans, planning to open PPF + some high performing MFs.

Now my latest query is on CIBIL. Since I moved from Bangalore to Hyderabad (2009), I happened to cancel some dozen old credit cards(which were issued but never used them) retaining about 3. But of these 3 i got to know 2 r blocked(no payment was pending on this), when I requested them to update my latest contact addresses.They didnt offer any reason for closure of the credit cards(CITIBANK).
But i tried to apply for banks like SBI, HDFC , they got rejected with a reply , sorry we cannot process your request. I was surprised as my take home is good, I work in MNC and my payments were always perfect (barring cpl of occasions).

After reading your article on CIBIL, I started to recall bcoz of soem Bad history, they might be rejecting my application. I had a problem with Standard chartered back in 2005, which i happened to settle it after bitter arguments and subsequntly cancelled the card.Again in 2009, my ICICI platinum card had to eb closed as I felt Rs.10K charged on my 1 min call from Paris airport, is fishy.I did close it in amicable terms.Also I had a problem with ABN amro, on which I availed a Loan after getting the outstanding amnt transferred from other card.
They kept on sending statements for next due date though my loan term was closed(EMI), though over the phone they agreed the loan is cleared.
When I requested NOC, as I didnt get any mail from them after few months or so, they again came up with some more outstanding as my Rs100/- was due , after interst and all, the amoutn came up as Rs.5000/-.
By this time, I was completley pissed off, I send a mail through courier to the head office at Gurgoan, explaining the same and rquesting for NOC and prepared to clear that false Rs.100/ too (but not the inflated Rs.5k). I didnt get any reply nor the phone banking ppl have any response.They kept on saying pay Rs.100/- , we will clear all.I sent Checque of Rs.100 too.But no NOC.

So thats the tragic story, which I didnt pursue it further after I moved to HYD.

So my question is, till wat tenure the bad credit history carried forward, when the 2 parties doesnt agree on certain transactions and the bank insists to pay whatever they dictate, is there any recourse? Still I have to beg these bank guys and pay any settlement amnt they come up with? I cant imagine how much they may ask me to pay as Rs.100/- they made up as Rs.5k in 4 months, now its 2 years +, they will expect me to pay a fortune!

BTW, I have applied for my CIBIL rating online. I have to see their findings.

Your quick comment may help though I m waiting for my CIBIL.

Reply

169 Manish Chauhan September 6, 2011 at 5:56 pm

Kiran

There is no clarity on how long the bad history will be there .. but i think it would be around 8-10 yrs .. better you clear off whtever is pending and dont leave it !

manish

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170 XYZ August 19, 2011 at 12:35 pm

Hi

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171 XYZ August 19, 2011 at 12:37 pm

Hi,

I had applied for SBI card, but the card was rejected due to some reasons
which the bank is not disclosing. I have other banks cards, and my record is good with them.

Will this card rejection be included in my CIBIL report.

Pls answer

Reply

172 Manish Chauhan August 24, 2011 at 6:05 pm

XYZ

yes .. most probably .. Did you check your CIBIL before applying, I suspect that your CIBIL has some issues and thats the reason its getting rejecteced

Manish

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173 Shilpa August 20, 2011 at 12:25 am

Hi

I have applied for a student loan with a UK based financial institution.I am required to submit my CIBIL report with them.I have never taken loans before and do not own a credit card.I have applied for a CIR and transunion score about a month back.But still awaiting the CIBIL report.
How long does it take for CIBIL report to reach?
Is the delay due to my non-existent credit history?

Thanks
Shilpa

Reply

174 Manish Chauhan August 24, 2011 at 6:07 pm

Shilpa

If you never had any credit earliar , then you might not have any CIBIL record,. If the UK institution wants the CIBIL report , then there is a problem

Its generally advised to have some credit so that you start building your “Good” credit score

Manish

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175 kaushik August 28, 2011 at 1:41 pm

Hi,

I recenly got my CIBIL report. My transunion score is 797. can you tell me is this score excellent/good/average/bad/very bad etc? I mean how most of the bank is like to see this score?

I am asking this because I might apply for some loan shortly. So on the basis of this score what is the likelyhood that the loan will be approved?

regards
kaushik

Reply

176 Manish Chauhan August 28, 2011 at 4:40 pm

Kaushik

As its close to 900 , it will be considered as good score . It should be in your favour

Manish

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177 Archana September 6, 2011 at 8:39 am

Dear Manish

I have 1500rs showing in my cibil report. I have applied for home loan as a cooapplicant. I have a NOC for clearing the same. It was for loan amount of Rs31500/- will that cause any problems in home loan process. Please advice

Archana

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178 Manish Chauhan September 6, 2011 at 10:29 am

Archana

Is that amount pending ? If no , then seems like your Bank has not communicated with CIBIL in right way . Ask you bank to rectify it with CIBIL . If its not , it would be assumed to be a bad mark on your report .

Manish

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179 KRaj September 6, 2011 at 4:38 pm

Dear Manish,

Is there would be any problems (in CIBIL score) for most enquiries of any credit facilities or loan application in a bank for getting any loan in future?

Suggest me.

Regards,
KRaj

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180 Manish Chauhan September 6, 2011 at 5:57 pm

KRaj

If you CIBIL score is bad, then there can be issues .. better not to apply for any if you score is bad , first clean it !

Manish

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181 KRaj September 6, 2011 at 7:17 pm

Dear Mansih,
Thanks for the reply.

I got the two CC cards from SBI and Standard Chartered recently.
So I think my CIBIL score is not bad so i got these cards.
But just i would know that,
“Is there would be any problems (in CIBIL score) for most enquiries of any credit facilities or loan application in a bank?”
Earlier I had applied most applications near about 7 to 8 times only for CC so I am asking to you for this because of In future I have to apply for Home Loan.
Definitely Manish I will use my Credit Cards be carefully and wii pay the CC amount on time and by heart say to you that your this article is very helpful to all of us.

Reagrds,
KRaj

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182 Manish Chauhan September 6, 2011 at 7:35 pm

KRaj

Making enquiries a lot of times with a bad scores will badly impact as it shows you are desperate for loan , but if your score is not bad, then its fine

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183 KRaj September 6, 2011 at 7:43 pm

Dear Manish,

Thanks!

It means only enquiries will not effect for getting any loan from any bank if my CIBIL score is good.

Just I would know that is CIBIL provide all details to bank or only provide score for an individual’s?

Regards,
KRaj

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184 Manish Chauhan September 6, 2011 at 7:47 pm

Kraj

Its mentioned in the article that CIBIL provides all the data to Bank … enquiries also

Manish

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185 KRaj September 6, 2011 at 8:02 pm

Dear Manish,

Thanks!

Last one thing would ask to you.
Enquires will impact for my future home loan requirement when bank will see my CIBIL report?
Will I get the home loan from the bank if I will take care of my CC payment from toady to future?

Only I have to take care about my CIBIL in future.
I got the CC recently it means that my name is not in defaulter list right.

Regards,
KRaj

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186 KRaj September 7, 2011 at 4:09 pm

Dear Manish,

Thanks!

Enquires will impact for my future home loan requirement when bank will see my CIBIL report?
Will I get the home loan from the bank if I will take care of my CC payment from toady to future?

Only I have to take care about my CIBIL in future.
I got the CC recently it means that my name is not in defaulter list right.

Regards,
KRaj

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187 Manish Chauhan September 8, 2011 at 10:01 am

KRaj

If you just got Credit card and you have not defaulted , then your CIBIL report must be clean .. make sure you pay credit on time and that will help you build a POSITIVE report and help you in getting loans faster

Manish

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188 KRaj September 8, 2011 at 12:41 pm

Dear Manish,

Thanks a lot..

Definitely I will keep in touch with you in my any queries.

Thanks for your nice article.

Regards,
KRaj

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189 Rohit Garg September 15, 2011 at 5:37 pm

Thanks a lot for the information.
I’ve a problem. My father recently applied for a loan and CIBIL report showed that he had 10 lacs or loan already. But this is not correct. He do not have a single penny on the name of loan from any of the bank or organization. Can you please tell me how to get rid of this kind of the problem ?

Reply

190 Manish Chauhan September 16, 2011 at 10:50 am

Rohit

It might happen that its true .. Did your father co-applied with some one else for a loan , did you father gave his important detials to some one any time earliar ? There are many cases where some one used some one’s else documents to take a loan , check with CIBIL which bank loan is it and then enquire with the bank too

Manish

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191 Chakravarti September 21, 2011 at 2:45 pm

Hi,

Recently i applied for personal loan and came to know that my CIBIL score is low so can not approve. its due to non payment of credit card dues for more then 1 year. later i paid entire outstanding including interest and late charges. And i have one more credit card, using it from last five years and no issues with late/ non payment. had taken auto loan previously and paid entire amount without any hassle, not even single payment bounced.

Questions –
1. Till how many years banks usually consider credit history?
2. Can my existing credit card’s history holds good if i opt to apply for same banks loan?
3. what is the best way to improve credit score?
4. i am planning to take home loan in next 2-3 years, will my existing cibil score impact that time?

please do suggest me, Thanks in advance

Chakravarti

Reply

192 Manish Chauhan September 22, 2011 at 7:08 pm

Chakravarti

1) You will be marked as “Defalted and Cleared the loan later” , but the bad mark will be there for years .

2. I am not sure , depends on the company decision on hjow they want to look at it

3. Keep paying your debt on time , thats all

4. Yes , it can …

Manish

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193 Chakravarti September 26, 2011 at 5:56 pm

Thanks for your kind reply,

Want to ask one more thing, as i am not eligible to get unsecured loan (CC, Personal) so with my current CIBIL score will there be any possibility to get secured loan like Auto Loan.
I came to know that my CIBIL score is 432 and requires minimum 700 for Unsecured loans.

Will required CIBIL score is same for all kinds of loans or vary depending upon kind of loan?

Please do reply……Thanks in advance
Chakravarti

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194 KRaj September 22, 2011 at 6:24 pm

Dear Manish,

I have to ask regarding my PF.
I had submitted my PF form and it’s been approved by PF and status is showing “Payment is in under process”.
So I would like to ask you that how much days will it take for crediting my PF money in my account?

Regards,
KRaj

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195 Jimmy September 23, 2011 at 5:59 pm

Recently i have published one article regarding CIBIL credit score after reading this.
Thanks Manish :-)

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196 Manish Chauhan September 24, 2011 at 9:04 pm

Jimmy

good to hear that :)

Manish

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197 satya prakash singh September 24, 2011 at 7:01 pm

dear sir my cibil report wrong du to i have no lone .but our cibib report have more lone.pls help me

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198 satya prakash singh September 24, 2011 at 7:03 pm

pls chek my cibil

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199 Manish Chauhan September 24, 2011 at 8:45 pm

Satya

Please see which bank loan does it say you have ? Ask that bank why that is reported to CIBIL . DId you took a combined loan with someone or did you handover your documents to someone . There are many cases of misuse !

Manish

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200 A September 25, 2011 at 10:52 pm

I had several cards which I got settled one and half year back. Can my CIBIL record be updated after getting the dues clear. If not than how can I get it done.
Please guide me on this.

Regards
A

Reply

201 Manish Chauhan September 29, 2011 at 9:18 am

A

Yes , once you pay your dues , the credit card company will update the CIBIL about it , if they dont, you need to follow up with them on this,

But make sure you dont sit idle and dont do anything about it, because this is really an important step for future

Manish

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202 Varun September 27, 2011 at 12:47 pm

Hi Manish
I am in the processing of applying for my CIBIL Transunion reprt with CIR.
But i would like to know whether even home loans (secured loans) are liable to be rejected if my name is in the CIBIL list??I am listed in CIBIL actually. Please advice.

Rgds
Varun

Reply

203 Manish Chauhan September 29, 2011 at 9:16 am

Varun

Its not just listing which matters, Listing in CIBIL can also be good. What matters is how much score you have and what are the past experiences .

Any kind of loan will be affected because of CIBIL score

Manish

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204 Chakravarti September 27, 2011 at 1:35 pm

Thanks for your kind reply Manish,

Want to ask one more thing, as i am not eligible to get unsecured loan (CC, Personal) so with my current CIBIL score will there be any possibility to get secured loan like Auto Loan.
I came to know that my CIBIL score is 432 and requires minimum 700 for Unsecured loans.

Will required CIBIL score is same for all kinds of loans or vary depending upon kind of loan?

Please do reply……Thanks in advance
Chakravarti

Reply

205 Manish Chauhan September 29, 2011 at 9:15 am

Chakrvarti

With that low score , it would be tough to get any loan , even your house loan is secured , but people get rejected … Car is on the other hand a depreciating asset , I think the first thing is to improve your score, why have you been lazy on doing something on it . find out what are all the reasons and keep mending it !

Manish

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206 Aparna September 29, 2011 at 3:50 pm

Hello Chakravarti,

The credit score band for CIBIL is 300 (bad) to 900 (good) hence your score of 432 is low. For any form of unsecured credit, most of the lenders reject the applicant below credit score of 600.

Regards
Aparna

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207 Chakravarti September 29, 2011 at 2:07 pm

Yes Manish the score is really low and i am in process to improve it, i paid all the debts and using CC very carefully, paying all dues at one shot every month, i think it will take some time to reflect in CIBIL and will continue the same. will not think of applying any kind of loan till it comes in good shape, at least one or two year.
Do you have any other alternate etiquette to be follow apart from what i am doing right now. please suggest

Thanks
Chakravarti

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208 Manish Chauhan October 10, 2011 at 11:47 am

Chkravarti

Just be careful and dont mess further

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209 Chakravarti October 4, 2011 at 3:29 pm

Hi Manish,

What is this…….strange.. recently i applied for SBI CC and it’s got approved. With score just 432, how come they approved? in that case why did my personal loan gets rejected. is there any significant criteria between CC and personal loan.

Thanks
Chakravarti

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210 Manish Chauhan October 4, 2011 at 7:03 pm

Charavarti

I am not sure .. Banks might have their own criteria ..

Manish

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211 Rishi Bhatia October 7, 2011 at 4:21 pm

One of my cousion taken a two wheeler loan in 2005
and i had given my pan card duly self attested at the time of taken loan.
Now i had applied for 2 wheeler loan in 2010, it got rejected upon applied to CIBIL report i came to know that i m the coapplicant of the two wheeler loan taken by my cousion in 2005. But unfortunetly he died in 2010 . So i had made the complete payment including all bouncing charges as well as the principal amount dues on him. But as i am the co-owner as per the bank records my name also >
reflect as an overdues amount (Defaulter) in your CIBIL Report which is
> harming my credit Worthiness in the market. I just spoke to the HDFC >
CUSTOMER CARE DEPT they said your loan is clear and had been reported to CIBIL upon checking again with CIBIL ,now report shows as settled . I had made full payment still its showing settle please help me out what i need to do now Please note that i do not have any direct dealing with the bank in the above said loan i just made a mistake of giving my sign in the reference column for which i have paid a price of making payment of RS 6322 to bank. So request you to please
help me out and suggest what need to be done by my end….

Reply

212 Manish Chauhan October 8, 2011 at 12:13 pm

Rishi

You will have to first wait for some time and then check with CIBIL on this ..

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213 anil October 8, 2011 at 2:16 pm

Dear Manish,

Firstly a great article , i have now initiated my CIBIL report due to this, i am in need of a personal loan of 3L my monthly take home is 78000 Rs , about 7 years back I had a dispute with a credit card from a bank, as iw as working overseas my dad cleared the amount but the CIBIL report says written off, besides that I have a citibank home loan which i pay 3600 rs a month also am a co applicant on a house loan taken by my wife , after reading all this i am depressed as it feels getting a 3 lac loan would be difficult as i do need the cash.

how do you think i should go about this

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214 Manish Chauhan October 10, 2011 at 11:45 am

Anil

Please clear off all the loans and any issues with the respective banks .. Unless it happens , your credit report will be messed up and you wont be able to get loan \

Manish

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215 Suresh October 15, 2011 at 10:06 am

In 2005, I have settled with American express Card and as expected my name is included in the CIBIL defaulters List.
IN August 2011, I have made the complete payment to the card. I was give a NOC as well as my name is removed from the defaulters list.
My question is how soon can i apply for either a new credit card or loan?

Reply

216 Manish Chauhan October 15, 2011 at 11:52 am

Suresh

Did the bank send the updated info to CIBIL , please check with CIBIL and also reapply for your report once .

Manish

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217 suresh October 15, 2011 at 1:33 pm

Hi Manish,
Thanks for the prompt reply.
Bank has updated my record with CIBIL and I have checked my CIBIL report as well.
Everything is in order.
So please let me know how soon can i reapply.
FYI… the pending amount was around 20,000 in 2005, which i have re payed in august 2011.
I had 2 other cards which i have defaulted, but i made the complete payment in 2006 itself . and their correct statis was updated in CIBIl.
I have a clean chit in the CIBIL report as of Sep 2011.

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218 Manish Chauhan October 16, 2011 at 7:29 pm

Suresh

If its already clear in CIBIL report , then you can reapply for the loan

Manish

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219 Ashish Singh chauhan October 15, 2011 at 9:30 pm

In 2005, I have settled with Hdfc two wheeler loan and as expected my name is included in the CIBIL defaulters List.
IN August 2010, I have made the complete payment to the Loan. I have got the NOC . IS my name removed from the defaulters list? How much time taken the CIBIL to remove my name in the defaulter list?? Its the possible?????
Can i apply any loan?????

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220 Manish Chauhan October 16, 2011 at 7:22 pm

Ashish

As you have made the complete payment and settled your case , ask the bank to communicate the same to CIBIL , your name should be marked as “Settled” in CIBIL from “Defaulter” ..

Manish

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221 prince October 17, 2011 at 2:01 pm

Hi Manish,

I never took a loan , never make any credit card but when i applied for credit card the banks did not make my credit card. Then i applied for the CIBIL report and found that there is no default . The CIBIL report is clear.

However one mistake which i found was that the voter ID-CARD number which is in the CIBIL report was not correct.

My question is how do i change my voter ID-card details in the CIBIL report.

Thanks,
Waiting for your reply.

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222 Manish Chauhan October 17, 2011 at 2:39 pm

Prince

If you have not taken any credit till now , then you should not have any CIBIL report at all .. what is written in your CIBIL report?

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223 prince October 18, 2011 at 3:57 pm

Hi Manish,

Thanks for a quick response.

It contains my Personal information like name , address, Pan no, voter id card number , secondary address.

In this report i found that the voter ID-CARD number which is in the CIBIL report was not correct.

It also contains the names of the Credit card companies to which i applied for a credit card.

So please guide me how do i correct it?

Thanks
Prince

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224 Manish Chauhan October 23, 2011 at 1:28 pm

Prince

Did you clear all your dues or not , thats the main thing . .first clear that and then ask banks to communicate to CIBIL about it

Manish

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225 ABC October 19, 2011 at 1:11 pm

System is very good in India Manish, If we are lazy we need to pay, if banks are lazy .. that case also we need to pay, what a bull shit system in India.

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226 Manish Chauhan October 23, 2011 at 1:08 pm

I agree with you , but rather than just blaming the system , we can do what is best in our hands

Manish

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227 ABC October 19, 2011 at 1:12 pm

Hi Manish,

If there are any issues with the bank, can you suggest how we can go for Legal assistance??

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228 Manish Chauhan October 23, 2011 at 1:07 pm

ABC

There will not be any legal assistance , you can complain to RBI about it , but i dont think there should be any issues . What kind of issues are you talking about ?

Manish

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229 Chetan Sha November 28, 2011 at 5:38 pm

If Bank does mistakes and does not care for Customers. Then customer can approach RBI Ombudsman. Its Very Strong and Like a Court. RBI would send legal notice to Bank Nodal Officer and make them come to Ombudsman office at RBI along with the customer. Get the things cleared.

Anyone has issues with Banks can always approach: (Online Complaint Form)

If you are not satisfied with services or having issues with Recovery Agents. Can approach RBI. It has stipulated guidelines for all the banks about the recovery behaviour.

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230 Manish Chauhan November 29, 2011 at 1:29 pm

Chetan

Thanks for the info

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231 AMIT October 22, 2011 at 12:06 am

HELLO MR MANISH,

I HAVE A QUERY REGARDING A BOUNCED CHEQUE OF RS 100000 DUE TO LOW ACCOUNT BALANCE WHICH I ISSUED TO MY AUTOMOBILE DEALER .
DOES IT AFFECT MY CIBIL REPORT.

Reply

232 AMIT October 22, 2011 at 12:11 am

IN CONTINUATION WITH POST NO 202.

I WOULD ALSO LIKE TO TELL U THAT THIS TRANSACTION HAPPENS THROUGH MY NORMAL SAVING ACCOUNT.

LATELY I PAID HIM THROUGH DEMAND DRAFT.

Reply

233 Manish Chauhan October 22, 2011 at 5:20 pm

Amit

No this has nothing to do with CIBIL and will not affect your report

Manish

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234 MAK October 22, 2011 at 6:49 pm

Hi,
I wants to remove my name from Cibil report, I Used to have 2 CC, from HDFC & another from citi bank, I do had personal loan from citi finance, which I settled long 2yrs back for which I have settlement letter as well.
Recently when I applied for a Bajaj finance loan for home electronic, It got declined, reason given to me was as my name reflected as a defaulter of Cibil.
Please advice me to clear of my name from Cibil. Details given below.
D.O.B: 07/08/1983
Pan: ANYPM8082D

Reply

235 Manish Chauhan October 23, 2011 at 12:03 am

MAK

The only way to remove the name is by clearing the old dues and then asking your bank to tell tis to CIBIL

Manish

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236 suresh October 23, 2011 at 9:05 am

Manish,
You are doing a great work and I am sure most readers like me appreciate.
I have just one request…
Some of our friends appear to be ignorant of the fact that they shouldn’t post PAN Number or Credit Card number or any personal information.
Request you to edit their personal details before posting.
Thanks,
Suresh

Reply

237 Ram October 24, 2011 at 6:44 pm

Hi,

I have been using SCB credit for past one year. The payment due came upto credit limit. As soon as the bank officials called me regarding the payments, I have cleared all the payment debt on my card. Now I applied for personal loan and it got rejected because of poor credit score. I have got the NDC from bank and bank officials have said me that they have informed CIBIL regarding the payments. How much days would CIBIL take to update the payment history and improve the CIBIL score? What if when bank is not ready to communicate to CIBIL? Can I escalate this case to higher officials in bank? Please reply with a solution. Thanks in advance.

Reply

238 Manish Chauhan October 25, 2011 at 6:53 pm

Ram

You can also communicate this issues with CIBIL directly , they will follow up with banks to confirm what you tell them

Manish

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239 Vinod shivram October 27, 2011 at 7:59 pm

Hi, great article. I wanted to point out that there is a professional company in india that helps customers increase their credit rating points and make a credit report more appealing to banks for a speedy approval…www.fixmycreditpoints.com…regards Vinod

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240 Manish Chauhan November 5, 2011 at 6:19 pm

Vinod

thanks for the pointer . Have you experienced their services ?

Manish

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241 SHILA MAITY October 29, 2011 at 1:10 pm

how can i recovery my bad cibil report?

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242 Vinod shivram October 30, 2011 at 2:31 pm

This is a company that analyses your finance and helps you systematically increase your credit score.

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243 Manish Chauhan November 5, 2011 at 4:27 pm

Shila

There is nothing big in this , you need to just see where you messed up and then clean it , there is no magic in “recovery” of your bad cibil report .

Manish

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244 Arnab October 30, 2011 at 1:17 am

Manish! One of question.
1. What is takes to the Fix the Bad Credit Score? Especially when you have settled with the bank and banks have forgotten them as well. So you cant even Chase with them?

Background: I was having few credit Cards, which were Settled with the Banks due to non agreement between us(
Me and Bank) on the Full Amount to pay. Also i had 2 Personal loans, which were closed by making Full Payment(Including the Pre Closure Charges), before the due tenure and a Home Loan which is Still on and has very good track Record.
So now the Credit Cards are the ones who are bone of contentions… How to get rid of them?
Cheers,Arnab.

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245 Manish Chauhan November 5, 2011 at 4:35 pm

Arnab

Truely speaking , it was only settled between your BANK And you , but banks considered you as BAD CUSTOMER and now it has told CIBIL that even though its settled , but its a BAD settlement , so the mud is on your face now ..

Now CIBIL marks you as bad customer and that can be seen by all banks … Now every bank knows that tomm if there is some non agreement between you and them , you are a hard nut to crack and you are dangerous for them :)

So now , sadly you cant get rid of it without clearing those bad outstandings … Try one thing .. try to contact your bank and ask them why they have not communicated with CIBIL that things were settled ,. you must get a response ..

Also as next step , contact CIBIL and tell them your case and ask them to verify with the BANK

Manish

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246 Tejaswi October 30, 2011 at 9:20 am

I have a home loan with HDFC. Can I approach my bank to get my Credit Score than CIBIL?

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247 Manish Chauhan November 5, 2011 at 4:29 pm

Tejaswi

No , banks dont have your CIBIL report . its only with CIBIL which prepares it from directions of different banks data

Manish

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248 Rohit Garg October 30, 2011 at 4:02 pm

First of all Thanks for the kind reply.
My father never shared his information with any other person and CIBIL report did not declared the name of any bank in the report which we got. Can you please tell us what should we do ? We do not have any loan. How to get rid of this problem ?

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249 Manish Chauhan November 5, 2011 at 4:26 pm

Rohit

In that case ask CIBIL to let you know which bank is it and then contact the bank , I know it sucks , but better act on it and clear this asap . It might happen that your father handed over that documents to some one for some purpose and it got misused , it happens , see this : http://www.jagoinvestor.com/2011/10/documents-misuse.html

Manish

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250 Atul Agnihotri November 4, 2011 at 6:34 pm

Hi Manish

I do have the same scenerio here..as one of my friend took joint loan with me but now he din pay from last 9months .we took joint loan cos he was in need and he wasnt getting loan approve. now even i am a defaulter.what should i do.i asked him to pay but he can not.and i need vehicle loan.please suggest…

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251 Manish Chauhan November 4, 2011 at 7:52 pm

Atul

Sad , but you will have to bear the brunt now .. you are one of the co-applicant and its your loan as much as his , so you are also a defaulter now , this issue will be fixed only when the loan is PAID , or SETTLED (bank agreeing to take less money,but its a negative thing) . looks like Dosti mehngi pad gayi aap ko !

Manish

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252 Atul Agnihotri November 8, 2011 at 1:49 pm

same i am feeling bro..i spoke to my friend and he is looking for settlement with the bank.but even that will effect mt cibil report.anyways thanks for your such a nice and informative blog.its really worthy and useful.will take care of it in future..thanks alot dude

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253 Manish Chauhan November 10, 2011 at 7:30 pm

Atul

ok , good to hear that .

manish

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254 Vijay November 7, 2011 at 3:13 pm

Hello Manish, Very nice information, its rellay eye opener for all.

I am also facing lots of issues with me and not understanding what to do. I have recently applied for home loans and its got rejected because of bad CIBIL report. i tried in 7 banks but no back wish to provide me loan now beacuse of bad CIBIL report.

Reason : I was holding HSBC, ABM-AMRO and ICICI credit cards in the year of 2007 and made some use of these cards. also I was holding some 2 personal loans where as in 2009 jan i left india and went to Finland for my project and was there till jul 2011. in between 6 to 7 person loans EMI were bounce and i couldn’t made payment of my credit cards because i have never open my back account to verify what is going on there. when i returned back to India i came to know all these things were hapned and i settled ICICI and HSBC credit cards and made full payment for ABM-AMRO back. i have no due letter from all these banks. I have also forclosed Personal loan on which 6 emi’s were bounced and made 1 emi payment which was bounced from another bank.

I also have all the receipts for all these EMI clearneces.

Still no bank wish to give me loan just because of EMI payments was done after 2 years for Personal loan and there are DPD (Delay in payments) shown in CIBIL report. I am frustrated now and finally canceled my Home procurement.

I badly need help to settle this CIBIL issue and pls can you help me how can i get help in CIBIL because all banks are ready to accept credit cards settlements but not ready to accept DPD’s of personal loan. My credit score is 511 right now. Please can you help me by some way and guide me what can be done now.

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255 Manish Chauhan November 8, 2011 at 9:25 am

Vijay

Its an issue actually , because your CIBIL mentions whatever is truth and that is “You made delay in payment” ,Now reason is not mentioned because they dont do that , so truely speaking you are in a bad state now . The main issue is that when you made delay in payment of your loan ,your bank told CIBIL about it , but when you settled it , the bank didnt tell CIBIL that you mistakenly delayed the payument . Now here is what you can do

- You might not have approached CIBIL explaining your case , please tell them that you mistakenly delayed the payment and it was not because of your financial situation.
- Ask your bank to communicate about your “good situation” to CIBIL and show the clearance letters to CIBIL

may be these 2 steps can help you .

Manish

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256 Vijay November 8, 2011 at 1:13 pm

Thanks a lot Manish, but how do i get in touch with CIBIL

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257 vijay November 8, 2011 at 1:14 am

Hi manish,

CIBIL has no reason to increase or decrease the points, i have recently got cibil report, I have a credit history of close to 5 years in which i had lost abc credit card and i dont have any details of the card. when i approached the abc company with my pan card, dob details none of them are giving the CC details hence one card payment is default. Other than that all my credit cards, personal loans and auto loan payments are 100% on time. but CIBIL has given me 600 points which was a shock for me. when i called customer care of CIBIL they say they wont give reason for why the CIBIL score is less. really funny…

regards,

vijay

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258 Manish Chauhan November 8, 2011 at 9:03 am

Vijay

What details do they need to entertain you , did they tell you ? If not, why dont you put a FIR with police on cc loss and then use that to get access to your card details .

Manish

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259 vijay November 10, 2011 at 7:58 pm

Hi Manish,

The point here is not whether I have to file a complaint or put a FIR to access my card details which I am not aware. For a payment due of 8K INR default to a credit organization CIBIL has awarded 600 points, inspite of my clear credit history with other organizations. Also in the credit request info: I saw that i have applied to XYZ bank 12 times on the same day. There are 12 requests made to CIBIL from XYZ compay saying that i have applied for the CC 12 times which again impacts my score showing that i am more hunger towards credit. When I wrote to CIBIL they asked me to apporach the XYZ bank but XYZ bank says they only have received 1 request from me which they are not putting it to CIBIL.

In the whole CIBIL summary except the 12 instaces of applying for credit card and once payment due of 8K INR. i dont see any negative as per CIBIL guidelines.

If ABC bank is member of CIBIL, CIBIL has all my contact details which ABC bank also would be having why ABC bank has not approached me that i have a payment due.

… Vijay

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260 Manish Chauhan November 11, 2011 at 11:21 am

vijay

Its at banks discreation how they want to use CIBIL data and what actions they want to take .

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261 vijay November 10, 2011 at 9:49 pm

Hi Manish, please notice that there are contiously 2 posts by Vijay and vijay …. diff V and v

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262 Aditya singh chaudhary November 14, 2011 at 10:36 am

Dear Manish,

I have taken a personal loan from icici bank. i have clear all the dues to bank. but my name is in cibil for late payment. In past i told to bank that i want to close my PL so please send me the letter otherwise i will not pay the EMI after 4 or 5 months they send me the letter in july 2011 & i have given them full amount.

After that they put my name in cibil. what can i do to clear me name in CIBIL.

Thanks.

Aditya singh chaudhary

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263 K Ram November 14, 2011 at 12:53 pm

Hi Manish,

I took some loan amount by putting gold as security in a small agricultural bank(Grameena Bank) in a village. Is this also comes into CIBIL Report?

Please advice and give your comments.

Ram

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264 Manish Chauhan November 16, 2011 at 12:28 am

K Ram

It that bank is associated with CIBIL , then all your payments are recoreded by CIBIL .

Manish

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265 KRaj November 14, 2011 at 4:06 pm

Hi Manish,
I got my CIBIL report in this month NOV-2011 and the my score is 731 and also I have checked my status in the report its not any kind of defaulter it was blank..
But i did not understand how my score is 731 just I recent got the three credit cards and I have been paying regular payment of all these cards and also I have Personal loan I have paid 33 EMI’s without missing any EMI.
So Manish I request you to tell me about this.
I have to take Home Loan so will I get the HOME Loan.
and second one How to Improve my CIBIL score.
How many days will take for increase the number.

731 is very risky score.

Regards,
KRaj

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266 KRaj November 15, 2011 at 12:57 pm

Hi Manish,

Waiting for reply for my above query.
Please advise me how to Improve my CIBIL score and how many days will take for improving the score.
I have checked my report I am not defaulter and paying regular EMI for my Personal loan and also credit cards…

Regards,
KRaj

Reply

267 Manish Chauhan November 15, 2011 at 9:08 pm

KRaj

If you dont have any bad history , then you just need to continue the good records and over time it would improve

Manish

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268 Ramzan Khan November 15, 2011 at 2:11 pm

Hi,

My credit history with CIBIL is very bad, when it can be improved? Please suggest……

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269 Manish Chauhan November 15, 2011 at 9:05 pm

Ramzan

You need to clear your dues and then follow up with banks and CIBIL to get your report clear

Manish

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270 vijay November 16, 2011 at 11:06 pm

i would like to apply for a personal loan from hdfc , i do have an savings account with hdfc and standard chartered bank also

i have issued few of my standard charted check to one of the retail shopper which got bounced one month back will this make any problem to get a loan from hdfc ?? there was 4 check returned in my standard chartered bank savings account , will this cause to get a loan from HDFC,Appreciate your quick help .

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271 Manish Chauhan November 17, 2011 at 11:10 am

Vijay

No , this issues is not reported to CIBIL and does not form part of your loan repayment history

Manish

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272 Suresh November 21, 2011 at 2:44 pm

Vijay,
When you apply for any kind of loan, you need to provide the bank with latest Bank statements (could be 1/3/6 months – depending upon the loan amount).
Though, in CIBIL cheque bounces are not recorded, the bank stament you submit will have an impact on getting a loan.

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273 vijay November 17, 2011 at 12:08 am

i dont know my cibil score , but thought of checking with you

for the approval of loan will they check my only loan history ??

or credit card history

adding to my previous comment

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274 Manish Chauhan November 17, 2011 at 11:09 am

Vijay

Get your CIBIL scrore soon and check it ,dont apply for loan incase your cibil scrore is too low or you have a bad history .

Also they will consider all the loans , cc is also a loan !

Manish

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275 vijay November 17, 2011 at 8:49 pm

cc issue was 8 years back . Will that still available in cibil ?

before applying for cibil i thought of checking this

will it matter the cheque returned in my other bank ?? which means standard chartered back ? those cheque was given to a retailer shop …

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276 Manish Chauhan November 17, 2011 at 11:02 pm

CC issue can be there with CIBIL , why not ..

Your Cheque issue will not impact your credit score

Manish

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277 mvaditya November 21, 2011 at 12:28 pm

Hi manish
Is LIC home Loan Also considers the CIBIL reprot rating

please let me know

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278 Manish Chauhan November 21, 2011 at 2:23 pm

MVaditya

Yes

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279 vijay November 21, 2011 at 1:03 pm

Hi Manish,

My score is 607 but still i have got a home loan….

Regards,

Vijay

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280 Manish Chauhan November 21, 2011 at 2:20 pm

Vijay

Good to hear that :)

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281 KRaj November 21, 2011 at 1:14 pm

Dear Manish,

I got my CIBIL report in this month NOV-2011 and the my score is 731 and
also I have checked my status in the report i.e. in the status column it was blank means (no any kind of status was mentioned in the column)

So Manish I request you to tell me about this.
I have to take Home Loan so will I get the HOME Loan with this score?

I have not missed any kind of payment for my CC and Personal Loan till date.

is 731 is very bad score? also provide me the score range that bank will approve my loan request.

Regards,
KRaj

Reply

282 Manish Chauhan November 21, 2011 at 2:20 pm

KRaj

731 looks good to me , I mean its ok .. but banks have their own criteria and how much score they want to approve ..

Manish

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283 vijay November 21, 2011 at 5:56 pm

vijay how can i settle my citibank credicard issue

they have kept an outstanding of 20000 rupees instaed 5000

will that make to stop to get a personal loan ? this is 7 year back but stil in cibil

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284 Manish Chauhan November 22, 2011 at 1:06 pm

Vijay

How come its 20k instead of 5k , does it include a late fee or heavy interest becayuse you didnt pay on time ? If yes, then the company is right and you must pay it off ..

Also CIBIL will have all the old data and this will decrease the chances you getting a loan later , please work on it

Manish

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285 vijay November 21, 2011 at 9:32 pm

manish please update me

in cbl i have an outstanding of 20000 which was not supposed to be !!!

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286 Manish Chauhan November 22, 2011 at 12:56 pm

Vijay

It must be mentioned that which bank loan is it ? And there will be some reason for which it is there ., ask the bank about it and even CIBIL

Manish

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287 mvaditya November 22, 2011 at 2:09 pm

SBI home loan department is asking for Guarantor for the loan amount, will LIC home loan also asks for the same.

please clarify

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288 Manish Chauhan November 23, 2011 at 2:14 pm

Mvaditya

Obviosuly , thats makes pure business sense . Why do you think LIC will not ?

Manish

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289 nagendraGupta November 23, 2011 at 12:42 pm

Dear Friends,

I took loan from HDFC of Rs.1 lac. I paid all EMIs except two which is my bank’s mistake not to pay even sufficient balance in account. Now HDFC tells to give Settlement letter to me with Two EMIs or no dues with late charges. Is it go in CIBIL (settlement is kept in CIBIL) .PLz guide, what sholud I do?

Regards

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290 Manish Chauhan November 23, 2011 at 1:38 pm

Nagendra

What was banks fault in this ? Can you talk on that ?

Manish

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291 Vijay November 23, 2011 at 4:46 pm

Same issue was with me, i had taken loan from HSBC and ECS was getting deducted from ICICI, even there though there was enough fund my 2 ECS were bounced. but i got called from HSBC and i paid same in Cash after 3 months. Its reflected in CIBIL as DPD (Delay in Payment) and my CIBIL scored reduced drastically and my home loan applications were got rejected by 2 banks. Then i fired a case against ICICI and spoken to CSM and finally they did something and now my score is something OK and now i got loan sanction from Axis bank. Why dont you do same thing just take statement of that month which will show enough fund availability and log a case in consumer court first and then meet to bank CSM, your problem should be sorted out immediately.

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292 nagendraGupta November 23, 2011 at 2:31 pm

Dear Manish,

Actually Bank did not honour the ECSs even there was suffiecient balance on those dates…..

What’s the exact position..to act upon in this case…

Plz tell me how to check the credit report free or paid….

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293 Manish Chauhan November 23, 2011 at 2:36 pm

Nagendra

You can see the procedure to order your CIBIL report at the end of this article . get it

Manish

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294 mvaditya November 23, 2011 at 3:16 pm

if my friend is a guarantor for me, then can he apply for loan for his own sake.

does it effect his credit score if he is a guarantor

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295 Chakravarti November 24, 2011 at 6:46 pm

Hi Manish,

In my latest CIBIL report its showing as follows

ACCOUNT STATUS

CREDIT LIMIT – RATE OF INTEREST -
HIGH CREDIT 17,755 REPAYMENT TENURE -
CURRENT BALANCE 0 EMI AMOUNT -
CASH LIMIT – PAYMENTFREQUENCY -
AMOUNT OVERDUE – ACTUAL PAYMENT AMOUNT -

and

STATUS
SUIT FILED / WILFUL DEFAULT -
WRITTEN-OFF STATUS WRITTEN-OFF
WRITTEN-OFF AMOUNT (TOTAL) -
WRITTEN-OFF AMOUNT (PRINCIPAL) -
SETTLEMENT AMOUNT -

how will this impact on credit score….. one way its showing no due and in status its showing as Written-off.

I contacted concerned bank about this but they are entertaining, they are telling we already informed CIBIL saying there is no due but they can not change written off. what the next step in this.

Please help me on this

Reply

296 Manish Chauhan November 24, 2011 at 10:59 pm

Chakravarti

Was the debt really written off , I mean it was settled by bank by not taking 100% amount . In that case its really a written off loan and hence it might not change .

Manish

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297 Chakravarti November 30, 2011 at 11:33 am

No Manish, i paid the entire amount including interest and late charges, i never settled for anything. As per CIR in Accounts Status section its showing as current balance NIL but but Written off Status its mentioned as Written off. and even i closed the CC account after final payment.

If this is something fishy how can i rectify…

one more thing i am not getting – In header section it mentioned something as ‘EXCLUSION CODES’
1. ONE OR MORE TRADES WITH SUIT FILED STATUS IN THE PAST 24 MONTHS

What does this mean and how will this impact my future credit requirement.

Please suggest me

Reply

298 vijay November 24, 2011 at 11:35 pm

manish

written off state cannot be changed in cibil ??

in my cibil there is a OverDraft of 10000 rupees form a bank which is actually not in my knowledge shows as Written off ..

Now the bank where i have applied for a loan asking NOC for this parameter ?

How to proceed ?

I really not done any kind of Overdrft transaction in my Life !!!

Awaiting for your reply

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299 Manish Chauhan November 24, 2011 at 11:49 pm

Vijay

Sadly, you will have to follow up with bank now , ask them about this transaction and why it happened . You never checked your bank statements and this transaction ? Follow up with bank and see what they are saying ? Then follow up with CIBIL on this and tell them that you are not responsbible for this

Manish

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300 vijay November 25, 2011 at 1:56 am

manish

i called upto the bank they says my information doesnot reflect in their system .. What to do !!

This information is completely in CIBIL not acceptable , Now how to proceed to clear this ?

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301 vijay November 25, 2011 at 1:59 am

do i need to approach the consumer court ? whats your suggestions ?

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302 Dasarath Kumar November 27, 2011 at 5:43 am

I am Rajesh,
My case is so pitty. It is too late to know about cibil. I got cibil score in March. Score is 519.Total 4 defaults showed.
Standard charted, 52Rs cleared in last month. Citi bank credit card 31000Rs, cleared in last month.
ICICI Loan 96000Rs, cleared this month. Pending are ICICI credit card 1Lakh and Deatusch loan
1, 20,000 Rs. Planning to clear this also before March2012.I am planning to go for house loan once my credit history shows nil.
1. Will my score improve once I clear all dues?
2. What would be the idle score for House loan, Please advise me.
3. When should I go for house loan? I don’t want any rejection as I cleared all my dues.
Please answer my question?

Reply

303 Manish Chauhan November 29, 2011 at 2:45 pm

Dhasrath

it not be 100% clean once you pay it all .. it will be marked as “cleared” , but you will still be shown as “Defaulter and then settled” , so you will be seen as a potential risk .

There is no ideal score for home loan , it depends on company to company , just try to make it best

Manish

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304 Dasarath Kumar November 29, 2011 at 8:02 pm

Will my score Cibil improve once i clear all the dues?

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305 Manish Chauhan November 30, 2011 at 8:53 am

Dasarath

No , you will have to pay the price . It will be marked as “Cleared the loan, but not on time” which is like a black mark on your repayment .

Manish

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306 Dasarath February 21, 2012 at 5:02 pm

Hi Manish,
Standard charted, 52Rs cleared in last month. —————Updated in CIBIL
Citi bank credit card 31000Rs, cleared in last month.—— Updated in CIBIL
ICICI Loan 96000Rs, cleared this month. ———————–Updated in CIBIL
Deatusch loan 1, 20,000RS———————————————————-In the process
ICICI credit card 1, 00,000RS———————————————-In the process
I have taken latest CIBIL report. Earlier score was 519. Now score is 524.That means increased only 5 point. I have paid these many dues and still increased 5 point. Is it correct? Their criteria or algorithm has to be improved. If score had not been improved people won’t much show interest to pay back, banks or CIBIL is not identifying the problem.Am I right? Please suggest me how to improve the score?

Reply

307 Manish Chauhan February 23, 2012 at 4:55 pm

after how many days of making the payment did u check the score ? because upto 45 days you should wait .. also the score will take time to go up , it does not happen instantly

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308 dasarath May 23, 2012 at 7:47 am

Hi Manish,
Standard charted, 52Rs cleared in last month. —————Updated in CIBIL
Citi bank credit card 31000Rs, cleared in last month.—— Updated in CIBIL
ICICI Loan 96000Rs, cleared this month. ———————–Updated in CIBIL
Deatusch loan 1, 20,000RS———————————————————-Updated in CIBIL
ICICI credit card 1, 00,000RS———————————————-In the process
I have taken latest CIBIL report. Earlier score was 519. Now score is 524.That means increased only 5 point. I have paid these many dues and still increased 5 point. Is it correct? Their criteria or algorithm has to be improved. If score had not been improved people won’t much show interest to pay back, banks or CIBIL is not identifying the problem.Am I right? Please suggest me how to improve the score

Reply

309 Manish Chauhan May 23, 2012 at 12:27 pm

Dasarath

There are two kind of changes . one is in report , which will get clear now as you have paid all the dues .. the score is mostly dependend of your “regular” payment history . So what are doing about it ? Do you have any kind of loan at the moment or credit card for which you can pay regularly ! ?

Manish

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310 Dasarath January 5, 2012 at 2:34 pm

Will my score improve once I clear all the dues?

Reply

311 Manish Chauhan January 7, 2012 at 1:48 pm

Dasarath

It should improve the score, but not neccesirally it is removed from the Report ?

Manish

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312 Dasarath August 10, 2012 at 4:20 am

Hello Manish,
I need to pay the below things earlier.
Standard charted, 52Rs ————Updated in CIBIL
Citi bank credit card 31000Rs——-Updated in CIBIL
ICICI Loan 96000Rs ——Updated in CIBIL
Deatusch loan 1, 20,000Rs— Updated in CIBIL
ICICI credit card 1, 00,000RS—— -Updated in CIBIL
Now I have paid all the above and called up CIBIL customer care got the information that all the above showed as Zero balance.
I am going to take CIBIL report soon. To be frank, I could able to clear as I got US travel opportunity and I am in US right now .I can’t apply any credit card as I won’t get any at this point of time. Tried to get credit card against FD. But banks told me that person should present. But I can’t.
I am going to stay here for 6 more months. Then I can get some down payment for house. If my score gets improved by that time my house loan approval may easy. There are no loans / credit cards are running at present. Please suggest me how to improve the score?
Thanks,
Dasarath

Reply

313 Manish Chauhan August 10, 2012 at 5:42 pm

What you can then do is ask some one who is in india to take a credit card on their name and also take a “add on” card with you as secondary person , then that card payment history will be counted as yours. I dont see any other way to improve your score !

Reply

314 Dasarath December 20, 2012 at 2:45 am

Hi Manish,

Yesterday I have taken CIBIL report. All are updated properly except Deutcsh bank. Still Deutcsh people are showing Written-Off status despite of so many mail follow-ups. I will continue the fight till they remove. I had the same case with Citi bank. They removed Written-Off status with single mail. Now score has improved and reached 569 from 519. My earning and investments are going good now. I am in process of earning 10 lakhs for house down payment. I am going to stay in US for 1 more year. By god grace my score will reach minium 750 by that time and loan will not be rejected hopefully.

Thanks for your help.
Dasarath

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315 Manish Chauhan December 21, 2012 at 10:36 am

If they are not cooperating , you can tell them you are moving to banking ombudsman and consumer court , it might move them

Reply

316 dasarath August 30, 2013 at 6:57 pm

Hi Manish,

I have received my fresh CIBIL report today. I am quite happy that my score is 746 and deutcsh bank removed written-off status (Had a very big mail fight for one year), finally succeed to get removed. Only worrying thing at this point of time is DPD’s. Suggest me when should I go for house loan?
Thanks,
Dasarath

Reply

317 Manish Chauhan September 3, 2013 at 2:14 pm

You cant remove DPD if the loan is closed now . Also you can go for home loan anytime. The company will not always decide to reject based on DPD !

318 nagendraGupta November 27, 2011 at 12:39 pm

Dear Manish/Others,

Iwant the email id and process to contact the consumer court as even there were sufficient balance in my account on both EMIs dates but my bank did not honour them and HDFC asks late charges and EMI bouncing charges.

Plz help me in this.

Regards

Reply

319 Manish Chauhan November 29, 2011 at 2:41 pm

Nagendra

I tweeted them and mailed htem and put you on cc ..

Manish

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320 Suhail November 27, 2011 at 11:27 pm

Is CIBIL registered in RBI?

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321 Manish Chauhan November 29, 2011 at 1:46 pm

Its a registered body and a recognised one .. Why it has to be registered with RBI ? Is IRDA or SEBI registered under RBI ?

RBI is just a regulator , nothing else !

Manish

Reply

322 Suhail November 29, 2011 at 8:43 pm

Then what is CIBIL apart from being a Website? Is there a physical Office of CIBIL?

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323 Manish Chauhan November 30, 2011 at 8:52 am

Suhail

Yes they have an office , a lot of employees and its formed with shareholding of top banks in country , you can see their address in this article end itself .

Manish

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324 Suhail November 29, 2011 at 8:56 pm

The Reserve Bank of India is the main monetary authority of the country.
The institution is also the regulator and supervisor of the financial system and prescribes broad parameters of banking operations within which the country’s banking and financial system functions.
Cibil not being the member of RBI accurecy of the data updation very poor infact pathetic (Proofs available).

Reply

325 Manish Chauhan November 30, 2011 at 8:51 am

Suhail

Note that RBI is just a central banking system and controls the monetary policy of our country. Its a body where BANK and other financial institutions are registered . So as you mentioned RBI as “monetary authority which regulates financial system” is only limited to banks and financial companies . CIBIL is not a financial company and does not come under purview of RBI , its a rating agency kind of organisation and its a data collection and credit rating agency . You can look at it like ICRA or CRISIL way .. So its only a recognised body in credit rating and all the banks and financial institutions are its clients , thats all ..

On top of this, you would be happy to hear thats its a body formed by GOVT OF INDIA + RBI .. Here are the excerpts from their website

The establishment of CIBIL is an effort made by the Government of India and the Reserve Bank of India to improve the functionality and stability of the Indian financial system by containing Non Performing Assets (NPAs) while improving credit grantors’ portfolio quality. CIBIL provides a vital service, which allows its Members to make informed, objective and faster credit decisions.

Manish

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326 Rajat November 28, 2011 at 12:43 am

Hi Manish

(1) I have a Consumer Durable loan from Bajaj Finserve, the first EMI was not paid in time, but later I paid the amount with all penalties, and after that I am paying my EMI on time. So would this affect my CIBIL ratings?

(2) I have a car loan from Tata Finance, same thing happened with the loan I failed to pay 3 EMI’s and paid them later with all other charges. and after that I am paying my EMI on time. So would this affect my CIBIL ratings?

Thanks In Advance

Reply

327 Manish Chauhan November 29, 2011 at 1:47 pm

Rajat

Yes it will affect your CIBIL report .. check out your CIBIL report once

Manish

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328 mvaditya November 28, 2011 at 2:15 pm

Dear Manish

i am not having consistency in job, for 5.8 years i have changed 6 companies, will LIC housing finance give me the loan,
its very urgent ,
please inform me ASAP

Reply

329 Manish Chauhan November 29, 2011 at 1:42 pm

MVaditya

It will not be that easy . Your infrequent changing of job shows that you are not that reliable when it comes to paying teh EMI’s back .. Try it ..

Manish

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330 WWW DOT COM November 29, 2011 at 7:28 pm

Hi,

Is it possible to remove complete CIBIL history of a loan account? Not changing the status as “Settled” in CIBIL from “Defaulter” ?

-www dot com

Reply

331 Manish Chauhan November 30, 2011 at 8:54 am

No , its done by CIBIL based on the info from Banks.

Manish

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332 Muthu Krishnan V November 29, 2011 at 10:27 pm

got my cibil report today thanks to the prodding from this article.
have a score of 840.

I was surprised to see personal loan taken in 2000 listed here. The report has most/all of the loans that I have ever taken.

though some of the loans have been closed, the “data closed” shows as “-” though the balance amount is 0. Should I get these rectified?

I had applied for a citibank credit card six months back. I see that they have requested for information from cibil some 15 odd times on the same day. would this not affect the score? is this fair.

also, I notice that citi had requested for my info for auto loan in 2006 whereas I had never approached them for the same.

The report also has all the addresses and phone numbers that I had ever provided for the loans/credit cards.

all in all, a very detailed account of all the loans/credit cards.

Reply

333 Manish Chauhan November 30, 2011 at 8:41 am

Muthu

Great to hear that you have a great score .. Your enquiry for loan makes part of CIBIL score , because thats an indication of your CREDIT HUNGER .. Check with CIBIL as well as bank for the auto loan which you never applied . Did you give your documents to anyone who might have misused your name and details to get a auto loan ?

Manish

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334 Muthu Krishnan V November 30, 2011 at 11:00 am

thanks for your appreciation :)
yes, coz of the “credit hunger”, I am surprised to see 15+ entries on the same day for one credit card application and also the auto loan. I will follow up on this and update on this thread.

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335 Muthu Krishnan V November 30, 2011 at 3:58 pm

if somebody has misused my documents, the loan should be against my report. I do not see any loan that I have not taken listed. So I believe i am safe.

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336 nagendraGupta November 30, 2011 at 11:05 am

Thanks Manish for your help.

I have sent the bank statement as asked by MR. Ashish Bhatia,
Customer Service Officer,Customer Support Team,HDFC Bank Ltd.

Let ‘s see what resolution does he find to pay sooner the two loan EMIs without charges and penalty.

Reply

337 vijay November 30, 2011 at 2:34 pm

Hi Manish,

As mentioned by Muthu, I also have the same problem with Kotak which had raised 12 entries on the same day for one request. When sent a mail to kotak cards they have confirmed that i have given one application and they have sent 12 times and they have not taken any action on this. I also raised a dispute on one more wrong entry of my record which cibil has confirmed they will be removing that wrong entry from my report. But finally because of all these wrong info taken and the CIBIL score would have been less, after correction my score should have improved, how do i get my updates CIBIL, should i apply again for score by paying money..?

Regards,

Vijay

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338 Muthu Krishnan V November 30, 2011 at 3:42 pm

Is this a scam by the banks to lower the score as soon as they receive a loan application so that they can eliminate the possibility of competitors giving a better rate which is the original intent of cibil?

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339 Suhail November 30, 2011 at 8:59 pm

May be you are right. Since they made the same entry for me with some Phoenix ARC (Kotak Mahindra) account default. That account does not belong to me. I have ask for clarification and waiting for the same.

I wanted to know if its the information sent by Kotak Mahindra or incorrectly updated by CIBIL which is common mistake or knowingly done by CIBIL for several reasons.

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340 Sukanta December 2, 2011 at 2:36 pm

I have a quick question. I am in process of buying a home, and have applied for the home loan. Last month, November, I found a good deal in Andheri and paid a token amount of INR 25,000 to the then owner. However, in following days, I found some necessary documents missing from his property papers. When asked, he was not able to explain the reason for the missing documents. As per the written agreement (signed over a revenue stamp by him and me, in presence of an witness), since this was a discrepancy in property papers, he was supposed to return my token money. I communicated to the seller, and he agreed to return the token money. However, he mentioned that he already had deposited the cheque for clearance.
When I enquired to my bank, I found out that it was not yet cleared and so I stopped the payment on that particular cheque. Consequently, it bounced the next day.
Now, I want to know what will be the impact of this cheque bounce on my CIBIL credit score?

Reply

341 Manish Chauhan December 4, 2011 at 7:01 pm

Sukanta

no , this will not effect your credit score . This is not related to any loan taken by you . CIBIL only takes into consideration those actions which are related to loan

manish

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342 nagendra December 5, 2011 at 10:47 am

Dear Sir,

Till now my problem of EMIs for which sufficient balance were available on due date some late charges and bounching charges are not waived by HDFC Bank. Plz guide and give consumer court email etc.
Regards
nagendra

Reply

343 vijay December 5, 2011 at 11:00 am

Hi Manish,

I had the same problem what Mr.Nagendra had, the solution for this is to fight with savings account banker and get the refund for his mistake and take a letter from the savings account bank and submit it to the loan account banker to show that the fund was available.

Regards,

Vijay,
idi.vijai@gmail.com

Reply

344 Nishanth December 8, 2011 at 10:04 pm

Hi Manish,
Thanks for the informative article.
Can you please advice me on the below:
My case is similar to Ganesh: I missed one of my credit card payment for 2 years (8K) when i transferred from Chennai to bangalore. I had paid my car loan, personal loan, other cc payments clearly without any delay. I checked my Credit score to be 733 on october.. I am applying for a home loan now… what are my chances? Am i at risk? I mentioned my case to the Bank Manager before applying he mentioned that they look for a score of 700 and above and I would not have any issues. With the current bank i have a excellent payment history .

Regards,
Nishanth.

Reply

345 Manish Chauhan December 8, 2011 at 11:50 pm

Nishanth

What there any mention of your unpaid CC ? If its there , then there can be issues .. because a lot of times bank see if you are “bad” customer . Check once and see you fix it

Manish

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346 Nishanth December 9, 2011 at 5:23 am

Hi Manish,

I had paid the complete balance. My cibil report shows balance as as zero for my credit card which had issue but it is mentioned as written off. I have the payment receipt i had made for this card. I checked with the bank for an NOC yesterday they mentioned that they simply dont provide it now.

Regards.
Nishanth

Reply

347 Nishanth December 9, 2011 at 5:25 am

Can you please let me know if this will be an issue with my home loan application?

Reply

348 Manish Chauhan December 13, 2011 at 9:47 pm

NIshanth

that totally depends on bank and how they want to percieve your report . As per CIBIL website , 80% of the loans which were disperssed had a score of more than 750 , dont lets see what happens in your case

manish

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349 Chakravarti December 12, 2011 at 8:16 pm

Hi Manish,

i paid the entire amount including interest and late charges, i never settled for anything. As per CIR in Accounts Status section its showing as current balance NIL but but Written off Status its mentioned as Written off. and even i closed the CC account after final payment.

If this is something fishy how can i rectify…

one more thing i am not getting – In header section it mentioned something as ‘EXCLUSION CODES’
1. ONE OR MORE TRADES WITH SUIT FILED STATUS IN THE PAST 24 MONTHS

What does this mean and how will this impact my future credit requirement.

Please suggest me

Reply

350 Manish Chauhan December 13, 2011 at 1:59 pm

Chakravarti

Better clear tehse doubts from CIBIL itself , may be there is some wrong dataentry , it happens

Manish

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351 Nidhin December 14, 2011 at 3:22 pm

Hi Manish,

I had cleared my credit card dues today(14/12/2011). How many days it will take for the bank to remove my name from the default list.

Thanks in advance

Nidhin

Reply

352 Manish Chauhan December 14, 2011 at 8:46 pm

NIdhin

Did you ask your Bank to notify CIBIL on your settlement ? If yes, then wait for few days .. but you should also check with CIBIL on this and tell them that you have cleared your dues and they should check with bank for confirmation .. once you do that , you can expect things to be clean in 1-02 months

manish

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353 KRaj December 14, 2011 at 4:25 pm

Dear Manish,

I am using 3 credit cards.
Just i would like to know if I am using three credit cards and I have been paying the payments all of these three cards before due dates so my question is
is there is a problem for using cards every months, is any impact on my CIBIL score for this?

Note: I am using all three credit cards but paying dues before due date.

Regards,
KRaje

Reply

354 Manish Chauhan December 14, 2011 at 8:43 pm

Kraj

CIBIL score is reflection of your credit behaviour , so if you are paying up your credit on time or before time , then your CIBIL score would be better and it will have a good impact on your report .. There is no issue in having 3 cards

manish

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355 KRaj December 15, 2011 at 11:01 am

Thanks Dear Manish,

Just more one question.
I got my CIBIL report in the month NOV-2011 and my score was 731.
Now my question is when should I apply again for CIBIL report for checking there, my score has increased or not?

Please reply

Regards,
KRaj

Reply

356 Manish Chauhan December 15, 2011 at 3:15 pm

KRaj

Banks notify CIBIL on monthly basis , but you should check your score next time after 3-4 months …

Manish

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357 KRaj December 15, 2011 at 5:28 pm

Dear Manish,

Thanks a lot for your help me out for this

KRaj

Reply

358 Manish Chauhan December 16, 2011 at 8:56 am

KRaj

keep reading !

Manish

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359 rahul December 14, 2011 at 5:11 pm

manish

I got my cibil Report yesterday and its says 724 Score , With a credicard amount outstanding 20000 rupees from the year 2006 . now i called the bank and asked them to reduce the money which they came down to 10000 rupees as settlement and a NOC letter .

My question is how this is going to effect my CIBIL score , Is it going effect negative way or positive way . The bank says if you clear 20000 amount that will give my cibil status Good . the amount of 20000 rupees is only my intrest on intrest , And i dont want to pay this whole amount . Suggest me which option i should select ? do i pay the 10000 rupees and settlement or pay 20000 rupees and clear it off ???

Reply

360 Manish Chauhan December 14, 2011 at 8:14 pm

Rahul

Note it down once and for all .. This will impact very badly in your CIBIL score and for all life .. Not able to pay your own debt means “You are a risky person to give any loan” .. if you dont pay Rs 20k to bank , then tehy will not update your records with any “good” point in CIBIL and you will be marked as “Settled partial debt” in CIBIL . in future any bank who has to give you loan will see this , now you only think , will they like to take any risk by giving loan to you ? I dont think so ..

So paying 20k would be better , else in future all your home loans , auto loans , personal loans might get rejected ..

NOte that this score of 724 might be because till now bank has not notified CIBIL about your non payhing .. once they do that , your score will come down

Manish

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361 Narasimha December 14, 2011 at 10:24 pm

Hi Manish,

STANCHART BANK has given a credit card for free for 1 year, After 1 year they sent a bill for next year credit card fee. Then i told them i don’t need to card cancel the card(card is not opened) They did not responded on mails and they said will work on that over phone. I thought it was closed after 3 years they called and said that I need to pay 17k on my credit card. What can do in this case?

Thanks,
Narasima

Reply

362 Mahantesh B December 17, 2011 at 12:37 pm

Hi Manish

I read all the posts in this blog, and Ur suggestions were excellent.

I took consumer loan of 9500 in bajaj finace . And i cleared all the EMI’s by cash payments & all the ECS were failed due to not operating the account, Bajaj finance has put the penalty of 3500 rs, Recenty applied for the loan in HDFC but it got rejected n immediately paid 2600 rs with some negotiation to bajaj finance and waiting for the NOC,

Now suggest me on the below points
1. After getting NOC will the bad payments history get cleared from CIBIL
2. Any Penatlies will appear from bank side in CIBIL for ECS failures.

waiting for ur reply

Mahantesh B

Reply

363 Manish Chauhan December 17, 2011 at 1:09 pm

Mahantesh

Mostly once you clear things with Bajaj , then ask then to update CIBIL , additionally tell your case to CIBIL and they will follow up with Bajaj on this and clean your report .

Manish

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364 Mahantesh B December 17, 2011 at 1:27 pm

Thank you Manish

how to contact CIBIL regarding this issue?
And how many days it takes to get cleared from CIBIL?

after updating in CIBIL i can apply for loan Right?

Reply

365 Manish Chauhan December 17, 2011 at 2:08 pm

Mahantesh

You can contact them on the address given on their website .. also once your cibil report is cleared , you can then apply for loan

Manish

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366 Vishwa December 17, 2011 at 3:26 pm

Hi manish,

I recently got my CIBIL score. My score is 604. I had one ICICI bank credit card which got settled in March 2010. But the same status was not reflecting in CIBIL report. I called ICICI bank and they promised that the same will be reported to CIBIL within 30 days time. I had one loan from Barclays finance which I settled after applying for cibil score. That was also to be updated to CIBIL within 30 days time. I had one PL from ICICI bank. At the time of applying 3 EMIs were due which I paid regularly and now the loan is closed. I have requested the ICICI bank to update the same to CIBIL.
Now my question is that how will the above points reflect on MY CIBIL score. I do not use any credit card for over 2 years and have no running loan. I am in no need of any fresh credit as of now. But planning to go for a home loan in coming 6 months to one year time. What are my chances to get a home loan.

I have one more question what is difference between settle and post wo(settled) status of CIBIL.
Hope to get a reply from you soon.
Thanks
Vishwa

Reply

367 Manish Chauhan December 17, 2011 at 7:20 pm

Vishwa

Settled can be of two kinds .. one is that you settled it after you defaulted (full amount) , the other one is that you doidnt pay and bank settled the matter

Manish

Reply

368 Rajneesh December 19, 2011 at 11:23 am

Hi,

I ordered my report and found that My name, my Date of Birth, My addresses and phone numbers have been reported wrongly in my report. The only correct thing was my PAN card and my Passport numbers. I got my pan card issued in Apr-2008 and my passport is dated April-2006. I was a student till 2008 and never had a credit card or any kind of loan. I later took 2 credit cards [ICICI - Aug 2008 and HDFC - Apr 2009 which I hold now]

In 2010, I applied for a car loan to ICICI and it was rejected because of credit report. It was all in a mess. My report showed 3 credit cards with outstanding amounts. Two 2-wheeler loan accounts with citi bank financials. Several inquiries of denomination like Rs. 1, Rs. 100, etc.

I wrote to all the parties which have wrongly reported the data about me and citibank and HDFC responded promptly. Wrote several time to CIBIL about their faulty methods of aggregating credit data but still some of those bad data points are still there in my report. ICICI bank has been the worse of them all. They sent me SMS twice that the credit cards have been removed from my report but it’s still there.

Luckily we have a process of filing complaints through Banking Ombudsman and I am going to take that step against ICICI bank.

I was not sure where all these inquiries of one rupee and hundred rupee were coming from. Have reported them to CIBIL through their online dispute resolution platform.

My point is that you have to check your report regularly. You never know when a stupid financial institution slyly puts up a question mark in your report. I am still fighting with CIBIL so that they can upgrade their aggregation mechanism. Everytime some data is reported, they should demand the copy of supporting docs also from the bank [scanned copy]. That way they can easily verify.

But it seems that CIBIL is happy with their role because this way all the blame can be passed to the banks and CIBIL has no accountability for giving low credit scores.

Anyways, be watchful of your credit report and credit history and always say no to those call center guys calling you for different forms of credit. Saying yes also adds a record to your credit history.

Reply

369 Manish Chauhan December 19, 2011 at 11:31 am

Rajneesh

Sad to hear that there are so many discrepencies and that too wrong .. it really makes one’s life misreable without any cause .. I got my CIBIL report and things were totally ok in that .. Did you pass on your PAN xerox to someone else , I mean someone else might have misused it ?

Also CIBIL is totally reliable on bank side , I mean if you have some discrepency with bank and complain to CIBIL about it , it will then ask the Bank about it , if bank is in agreement with you , then things are ok , but if not, then banks stand will be final .

I hope things improve in future .. but incase things are really ugly , dont shy away from doing further enquiries and consumer complaints etc !

Manish

Reply

370 abhijeet December 20, 2011 at 9:35 pm

hi manish,
i had a citibank credit card, which i have settled in june 2009, the status in cibil is WO. i had contacted the bank and they have issued me NOC about no amount due. i had enquired for home loan in june 2011, which is seen in cibil report, but i didnt take any loan at that time. Now my score is 841, and i want a home loan.
what are my chances of getting a loan from idbi bank?

Reply

371 Dharmegowda December 21, 2011 at 4:00 pm

i was settled my personal loan in ICICI,But they are put it in CIBIL It was effect my future finacial turnovers.at the time of settelment they told we will not put for CIBIL.WHAT CAN I DO FOR NEXT.

Reply

372 Manish Chauhan December 21, 2011 at 11:27 pm

Dharmegowda

Never trust banks like that .. the moment you dont pay the dues, its reported to CIBIL in the same month . Work with your bank on its removal ,. did you pay 100% of your dues and cleared every thing ?

Manish

Reply

373 BKK December 21, 2011 at 11:09 pm

Hi Manish,

Recently I applied for SBI home loan, they told me that they collected my information from cibil and according to the report there is some dues from my side for my credit card. They also said that if you clear this due then they can proceed ahead.
I called my credit card customer care and deposited the dues (although I am not using that card at all, but the annual fees was charged).

Now I want to know when this settled information be sent to CIBIL from the credit card? Is there a way to get settlement certificate from the credit card company to produce that to SBI so that they can start my loan processing?

Any help on this would be appreciated.

Thanks

Reply

374 Manish Chauhan December 21, 2011 at 11:21 pm

BKK

You need to ask SBI to communicate to CIBIL about the dues settlement , also tell CIBIL about it so that they can crosscheck with SBI . Plus also take a NOC from SBI on your credit card dues . It should take couple of weeks

Manish

Reply

375 Ritesh Bharati December 23, 2011 at 10:34 am

Hi Manish,
My CIBIL credit score is 668 but still my home loan is not sanction by IDBI,AXIS.
As in the past I had taken PL from Centurion bank(Now merge in HDFC) year 2006 & fully settled in yr.2009 but still it’s DPD shows in CIBIL report.Also another ICICI credit card(yr.2007) fully closed in Oct.2011.
So can u tell me how to I get my home loan & which bank will sanction it.
Thanks & Regards,
Ritesh

Reply

376 Manish Chauhan December 23, 2011 at 5:27 pm

Ritesh

668 is a ok score , not a great score .. you should aim for a score of 750+ atleast .. Ask your bank and CIBIL about the DPD in CIBIL, they will be able to clarify!

Manish

Reply

377 Shailesh December 24, 2011 at 11:34 am

it is indeed a good material for people who lack information on CIBIL.
i think many issues pertaining to cibil can be resolved through this article.
shailesh.

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378 Shailesh December 24, 2011 at 11:42 am

i recently applied for a personal loan but my bank informed me that though i’ve a score above 750 points but the loan could not be processed as my report shows several electronic cheque bounces for year 2010 pertaining to GE money. I want know if this can be a reason for denying the loan. If yes. then how to clear these record sfrom CIBIL history as i’ve already cleared the total amount to GE money.
kindly suggest..
Thanks – Shailesh.

Reply

379 Manish Chauhan December 24, 2011 at 9:22 pm

Shailesh

What was that cheque bouncing incident ? Was it a loan and you failed to pay that on time ? Because the data on CIBIL is there for total 7 yrs ..

Manish

Reply

380 Shailesh December 29, 2011 at 9:34 am

Hi Manish,

Thanks for the information. Yes. those cheques were for loan. Kindly let me know how to clear this from CIBIL as i’ve have the full & final letter with me from GE Money. Kindly advice on the same

Reply

381 Manish Chauhan December 30, 2011 at 7:58 pm

Shailesh

GE has not communicated it to CIBIL properly .. send a email to CIBIL on this and show them the proofs you have .. they will check up with the bank and rectify things if bank agree

Manish

Reply

382 Mahantesh B December 26, 2011 at 6:05 pm

Hi manish

today i paid the full dues of consumer loan & got the NOC, but how shall i contact CIBIL & request for updation of CIBIL report,

Via phone i’ve to contact them or what?
And how many days it’ll take?

Reply

383 Manish Chauhan December 26, 2011 at 6:09 pm

Mahantesh

You need to open a request with them on their website .. go to their website .. you can expect it to be changed once cibil cross verifies from the Bank ..

Reply

384 MahanteshB December 27, 2011 at 9:50 am

Hi manish

There is no such Tab for request on there website,

Reply

385 Manish Chauhan December 27, 2011 at 10:47 am
386 rakesh December 27, 2011 at 12:20 pm

Dear Manish,

2-3 Weeks back I got my CIBIL Score of 765 and Report where it shows outstanding on 2 Credit Cards since 2007, I checked those Cards were used by my brother and I didn’t know as I was out of India for long, now on my request He settled those amount with Bank by paying settlement amount Offered and Initiated by Bank, and processing to send NOC for the same, now my question is How would these Settlement Effect in my Cibil report Can this Score come down? and Can there be any problem in getting house loan? my all other Loan Accounts and Credit Card History is perfect (no Bounced EMI or Check), please provide your valuable Advice so that I can get house loan without any Hassle. Thanks in advance.
Br,
Rakesh

Reply

387 Manish Chauhan December 27, 2011 at 12:34 pm

Rakesh

This default though done by your brother is actually done by you (because the card is yours and in yours name) , so giving justifications like your brother has done it and you were not responsible would not work with banks . As the amount is now settled , better ask to CIBIL to remove those things from your Report , CIBIL will contact to Bank and cross verify what you are telling them and once the bank confirms , those things will be removed from the CIBIL report . It would be good that you apply for loan only after its removed from your Report and not before that ..

Because there has been cases that despite a respectable score , banks have denied the loans in these kind of cases .

Manish

Reply

388 rakesh December 27, 2011 at 3:04 pm

Dear Manish,

Thanks a lot for your prompt response and prudent advice, also settling these account would that mean dip in my CIBIL score??
As Bank had already updated these accounts on CIBIL with current outstanding, now when this outstanding will be zero with status settled with this give CIBIL score a DIP or will improve it.

Thanks in advance.
Br,
Rakesh Bora

Reply

389 Manish Chauhan December 27, 2011 at 3:10 pm

Rakesh

Settleing the amount means a positive thing for you and bank , it shows that you have cleared the bank money and it shows trust .. so it will improve the SCORE

Manish

Reply

390 rakesh December 27, 2011 at 3:52 pm

Dear Manish,

Many Thanks for your kind and very important Advice.

Br,
Rakesh Bora

Reply

391 rakesh December 27, 2011 at 4:40 pm

Dear Manish,

Sorry for bothering you again, but I gone through the blog you have mentioned somewhere settling account(Paying less than outstanding on offer of bank post providing NOC) would badly effect CIBIL Score,
but in my above query you said :- ” (Settleing the amount means a positive thing for you and bank , it shows that you have cleared the bank money and it shows trust .. so it will improve the SCORE)”

I am bit confused here please suggest also if this settlement is to get updated on CIBIL can this with CIBIL to push fast updation of same on CIBIL means not waiting for bank to initiate and update . Thanks.

Br,
Rakesh Bora

Br,
Rakesh Bora

392 Mahantesh B December 28, 2011 at 9:08 am

Hi Manish

I checked the link but it is asking for control number which i don’t have. because i never applied for CIBIL report.

Mahantesh B

Reply

393 Manish Chauhan December 28, 2011 at 9:42 am

Mahantesh

I thought you have applied for CIBIL once atleast and now want to update your score .. anyways .. now as you have fixed things with banks , wait for a month , so that bank can communicate with CIBIL and hopefully your CIBIL report should not have those pending items . then order your CIBIL score and have a look at it .. there can be chances that it still have the old comments and then you will have to follow up with CIBIL then

Manish

Reply

394 rakesh December 27, 2011 at 4:49 pm

Dear Manish,

Sorry for bothering you again, but I gone through the blog you have mentioned somewhere settling account(Paying less than outstanding on offer of bank post providing NOC) would badly effect CIBIL Score,
but in my above query you said :- ” (Settleing the amount means a positive thing for you and bank , it shows that you have cleared the bank money and it shows trust .. so it will improve the SCORE)”

I am bit confused here please suggest, also if this settlement is positive to get updated on CIBIL in this case can we initiate process to update this with CIBIL by sending bank NOC to them, rather then waiting for bank to initiate and update .Thanks.

Br,
Rakesh Bora

Reply

395 Payel December 28, 2011 at 1:49 pm

Hi Manish,

I have had the similiar experience as Rajaram [1st example that you have posted]
I have dealt with the bank and got my dues cleared.
But the bank ICICI , saying that to update the cibil records it takes 30 days.
Is it true?
what is the reason for this delay?

Reply

396 Manish Chauhan December 28, 2011 at 9:57 pm

Payel

Actually Banks update their info to CIBIL on a single day .. so it can take max 30 days

Manish

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397 Payel December 29, 2011 at 12:20 pm

Thanks for the clarification :-)

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398 rakesh December 28, 2011 at 3:38 pm

Dear Manish,

Thanks a lot.

Br,
Rakesh Bora

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399 umesh December 28, 2011 at 5:37 pm

Dear Manish,

Thanks for putting such a great article. In 2006 i took some loans and defaulted intentionally without paying even a single EMI and same thing i did with one credit card. Now things changed, I have family and need to buy a house and car but nobody is ready to lend me any credit.

Now I am ready to pay all the dues for the personal loan and credit card just to make sure that my credit history become crystal clear. Is that possible.

Thanks for your support.

Umesh

Reply

400 Manish Chauhan December 28, 2011 at 5:42 pm

Umesh

Actually this will be very tough thing for you .. You can talk to your bank and payoff the loan and then ask them to communicate to CIBIL about it .. hopefully things should get better .. but surely this chapter will haunt you for more years

Manish

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401 umesh December 28, 2011 at 6:18 pm

Thanks Manish,

For how much time this will be on report. Life long or & years. Yes I did check the my credit history and these are very much there.

Umesh

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402 Manish Chauhan December 28, 2011 at 9:44 pm

Umesh

Incase you do not do anything about it , then it will be there for next 7 yrs .. if you pay off , then talk to bank and CIBIL and mostly it should be fixed

Manish

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403 umesh December 29, 2011 at 10:14 am

Thanks Manish,
Now as I am ready to payoff of the amount as applicable, I would like to ask you few more questions:
1. Although I already started the communication with banks but I am feeling insecure in the sense that if things does not work out for any reason, is there any chance the bank may harass my family. Back when i defaulted i was alone and i really do not care but now I have family and their safety is my first concern. Is there any chance of this?

2. Before I handover the money to bank what are things I should make sure.

Thanks
Umesh

Reply

404 Manish Chauhan December 30, 2011 at 7:57 pm

Umesh

Not really . Incase of you going to them and offereing the settlement there should not be an issue

Before you hand over the money – Make sure

- you have made sure that the collection person is genuine
-make sure you get the reciept etc . better if you pay by cheque to the bank
- Make sure you take NOC

Manish

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405 Umesh January 3, 2012 at 12:14 pm

Manish,

My report says current Balance INR 39000. Is that means this is the amount i have pay (Including interest and penalties applicable ) .

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406 Manish Chauhan January 3, 2012 at 11:38 pm

Umesh

I am not sure what means “current balance” . But mostly it should be the outstanding amount

Manish

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407 Umesh January 4, 2012 at 12:13 am

Manish,
I read somewhare

“Can a customer’s repayment track be overwritten in Credit Bureaus data base?

Member banks report data to credit bureaus on a regular basis, thus in case of a delinquent customer, if a customer has cleared all of his/her over dues in the current month the repayment track in his/her credit report will be updated from current month onwards. Please note that the records for the previous period will, however, continue to reflect the past behavior.”

Is that means even if i pay whole amount with interest the written off statement of past will be always there in report?

Reply

408 Manish Chauhan January 4, 2012 at 10:15 am

Umesh

A sin committed is a sin committed . You can clean it a bit , but because you did it , you did it .. So if you pay the amount with the charges .. the status might be changed to “cleared off” or “Loan settled fully” ,but that shows that you made some sin earliar in life and then fixed it .

Manish

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409 umesh December 28, 2011 at 6:27 pm

Manish,

I applied a car loan for with HDFC bank. They told me that they can give the loan if i can provide the Fix Deposit of the same amount.

The bank guy informed that this will help me to improve my credit history. Does Secured credit cards help in improving the credit history.

Reply

410 Manish Chauhan December 28, 2011 at 9:39 pm

Umesh

There is nothing like that .. who told you this . Mostly the employee there is just lying .. there is no rule like this from bank .. ask him for clarifications , tell him that SBI or some other bank has no terms like that .. just say like that

Manish

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411 Umesh December 30, 2011 at 8:48 pm

Thanks Manish

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412 santy December 29, 2011 at 11:24 am

hi manish

i had an issue with HSBC credit card, had lost the card and logged an complaint with HSBC, then they have sent an new card without my knowldge which was misused for which i had to pay the 36000 principle amount for an outstand ing amount 144000.
Now i want to know, after paying this amount will i have a good CIBILL score or is their any other issues by settlement?

regards
santy

Reply

413 Manish Chauhan December 30, 2011 at 7:46 pm

Santy

If the real money you had to pay was 144000 and you only paid 36000 , then the rest of the AMOUNT was WRITTEN OFF .. bank will definately report this in CIBIL , now this will make you ineligible for any loan for next 7 yrs, only after 7 yr this will be removed .. (incase you dont want to pay)

Manish

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414 soumya prusty December 30, 2011 at 12:56 am

hi
manish
i have apply a PMEGP LOAN at S.B.I,but they compliance to me about CIBIL report as aboutcredit card follows:-

Month Status
4.11 – Sub Standard
6.11 – Doubtful
11.11 – 061(days past due)
12.11 – Doubtful

I have two credit card 1st from union bank of India and 2nd from Bank of Baroda but i have not been using the same but some annual charges surcharges levy etc was debited on the c.card without my knowledge.
When come to know the CIBIL report it rivals that may be (i am not confirm) some due was pending on the credit card of union bank and it was adjusted at UBOI at my local inter branch and no due certificate is issued to me.
In the matter of BOB card i have contacted the credit card cell central office,Mumbai and it is revealed that there is no outstanding or dues against me.
Again in the matter of union bank c.card i have contacted their credit card cell Mumbai central office and they advised me that an amount of Rs 1246.50ps is payable to me.
so how will be reflect the default report in CIBIL against me.and please advice me how to revoke or delete my bed report in cibil database.

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415 Manish Chauhan December 30, 2011 at 6:43 pm

Soumya

You should clear off the dues of 1200 and get this settled and ask your bank to tell CIBIL that you paid it off .. Also the charges on credit card was not reported to you , why ? Dont you get a statement from them ?

Manish

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416 santy December 30, 2011 at 7:33 pm

hi manish
i had an issue with HSBC credit card, had lost the card and logged an complaint with HSBC, then they have sent an new card without my knowldge which was misused for which i had to pay the 36000 principle amount for an outstand ing amount 144000.
Now i want to know, after paying this amount will i have a good CIBILL score or is their any other issues by settlement?
regards
santy

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417 soumya prusty January 1, 2012 at 12:37 pm

i have avail the pmegp loan .but the bank undertaking from me that i will clear the cibil matter at coming days then after the big amount should release .

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418 Manish Chauhan January 2, 2012 at 1:30 pm

Soumya

Yea .. unless your CIBIL thing is resolved , you cant get the loan

Manish

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419 Guruprasad December 30, 2011 at 3:38 pm

Hi Manish,

Thanks a lot for helping us to take step by step approach to manage our financial life.

Trust me , it was from ur site , I realized that i was paying more premium to my endowment policy of LIC and this made me to surrender it and to go for term insurance.

It was again ur site which forced me to buy Health insurance though i delayed for which am repenting now :(

And again it was because of ur site , I applied for my CIBIL score , unfortunately its been 2 weeks now , I have not received my CIBIL score yet though I have sent them a reminder through the mail . Hope to receive it soon and I would surely update .

Happy New year to you and all your readers .

Thanks again Manish, please keep educating us….

Reply

420 Manish Chauhan December 30, 2011 at 6:04 pm

Guruprasad

Thats great to hear .. keep taking actions in 2012 also :) , happy new year

Manish

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421 santy December 30, 2011 at 7:35 pm

hi manish

pls comment on my request
i had an issue with HSBC credit card, had lost the card and logged an complaint with HSBC, then they have sent an new card without my knowldge which was misused for which i had to pay the 36000 principle amount for an outstand ing amount 144000.
Now i want to know, after paying this amount will i have a good CIBILL score or is their any other issues by settlement?
regards
santy

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422 Rajesh December 30, 2011 at 11:33 pm

Hi Manish

Got lot of information through this blog, really informative.
I had a query:
One of my ex team member applied for a credit card with some bank. He got the card and used it to the extreme. Now he is not paying the outstanding with the charges and interest and now he seems to be absconding and not traceable.
I am getting calls from various recovery agencies informing me that he has given my reference while applying for the credit card (He gave my reference without my knowledge – these agencies also informed me that I have signed on the application form as a reference which I am sure is a forge signature and I am also informed that some criminal case has been launched against that defaulter).
Will this effect my CIBIL score or is their any possibility that bank may try to recover it from me?
I have credit cards of various banks for which I am paying before due date. I had a car loan which I foreclosed after paying foreclosing charges. Also, I foreclosed my education loan. My repayment track is really good.
Please guide.

Thank You in advance.
Rajesh.

Reply

423 Manish Chauhan December 31, 2011 at 12:09 am

Rajesh

Seems like your friend has taken advantage of yours by forging the signature and also the bank has accepted it without any verfication . thought this will have an adverse effect on your cibil score , you should try to really take some action about it and clear this mess. I know this has got into your life without your knowledge and its unneccesary headache , but its time to clean it up and think about it later .

First ask bank about the proof they have that you are the reference ? and then lets see what happens

Manish

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424 Kamlesh Raval January 6, 2012 at 10:39 am

Hi Manish,

Good article to get information about CINIL report.

I recently got my CIBIL report. Under inquiries column there are 3 entries.
1. Car loan (6,70,000). Actual amount is 6,53,000/-
2. Personal loan (2,00,000). Which I never borrowed !
3. Credit card(1,000). I don’t know about this!

Could you please help me how can I get detail for above history and can clear my CIBIL report?

Thanks in advance!
Kamlesh Raval

Reply

425 Manish Chauhan January 6, 2012 at 12:11 pm

Kamlesh

Only CIBIL can give you this information .. kindly contact them only

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426 jai January 6, 2012 at 2:48 pm

SIR,
hw any bank will know thts the person credit is the same who is applying there r so many same name in the country,..,.,.,.,.,.,.,nd in cibil the persons DATA is full with addres and alllll

Reply

427 Manish Chauhan January 6, 2012 at 9:52 pm

Jai

There are some unique things you will have like credit card numher .. Pan number ..

Manish

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428 Manish Chauhan January 6, 2012 at 9:53 pm

Jai

the search is done using things which are unique like PAN or CC number

Manish

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429 Pratiksha Shetty January 8, 2012 at 8:55 pm

hey i just recently applied for credit card from hdfc which got rejected can i apply fir a credit with other bank now ? can people who live on rent gt credit card ?since application got rejected would it cause damage if i apply through other bank?

Reply

430 Manish Chauhan January 9, 2012 at 10:23 am

Pratiksha

There can be few reasons for this .. did you had any loan earliar ? Or your salary is too less ? Better apply for your CIBIL score and look at it ..

Manish

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431 Pratiksha Shetty January 11, 2012 at 1:34 am

i have a education loan which m paying on time

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432 Manish Chauhan January 11, 2012 at 10:43 pm

Pratiksha

Then apply for your CIBIL score and have a look at it , it might happen that its messed up because of some reason or there might be a mistake

Manish

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433 wajeerjan January 10, 2012 at 5:31 pm

how can i know the cibil report in full history

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434 Manish Chauhan January 10, 2012 at 5:38 pm

Apply for it ..

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435 Prabhat January 11, 2012 at 8:43 pm

I have applied my CIBIL Report when it will reach to me.

regds,
Prabhat

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436 Manish Chauhan January 11, 2012 at 10:17 pm

Prabhat

You can expect it in 10-15 days .. however you could have applied for online CIBIL score .. Now its available online .

Manish

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437 Prabhat January 12, 2012 at 10:30 am

I have applied online
regds,
Prabhat

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438 Manish Chauhan January 12, 2012 at 11:09 am

Prabhat

then you can expect it in 2-3 days

Manish

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439 Prabhat January 13, 2012 at 11:00 am

Sir,
I applied on on 28 th Dec and Registration no is S1211013037,I was not aware of authentication procedure and there was a querry of addrees proof.
Again I send the scanned copy of address proof .However still I have not recieved the CiBil Report.Pls help
Regards,
Prabhat

Reply

440 Prabhat January 13, 2012 at 9:02 pm

HDFC Bank has refuse for my Home loan as they are telling that inmy name several laons are pending.
So far in my life i have not taken any loan in my life ,
I saw there report my PAN Card and Passport some has used,
parallely i have applied a seperate CIBIL Report on my oen
please help

Reply

441 Manish Chauhan January 13, 2012 at 9:19 pm

Prabhat

definately some one has misused your documents . Better apply for CIBIL report and talk to bank and CIBIL to rectify the issue

Manish

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442 Prabhat January 15, 2012 at 6:32 pm

what to do whether to lodge a police complain or FIR is necessary.

Prabhat

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443 Manish Chauhan January 15, 2012 at 7:59 pm

talk to customer care first

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444 Prabhat January 16, 2012 at 12:52 pm

I talked to custemer care and raise online despute resolution also.They will take a minimum of 30 days .Meanwhile ,my homeloan has been stuckup without my fault.

Regards,
Prabhat

445 Manish Chauhan January 13, 2012 at 9:49 pm

Prabhat

after authentication fails, it can take 10-15 days .. contact customer care with this number

Manish

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446 Prabhat February 28, 2012 at 3:20 pm

Finally after two months of continuous followup ,CIBIL people send
my report of 26 pages disclosing bank details.
The report even does not show my correct name and Date of Birth. CIBIL people is not doing any work correctly.I got clear report from Equifax and Experian
Since I have not taken any loan or credit cards why CIBIL not giving the correct report.
Do you have their higher Management contact details or mail id,now my mails also returning back showing ,mails not delivered due to policy details.
completely fed up with CIBIL.

Reply

447 Manish Chauhan March 1, 2012 at 12:13 pm

Prabhat

Did you talk to their customer care ? You can write to them that you will complain to RBI on this

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448 naveen January 13, 2012 at 2:45 pm

hai sir,
i want to know why cibil needs pan no ? because i have applied for cibil report 2 months back, still i have not received it,actualy i have 2 pan nos .1 i used for loans and credit card and lost it 6months bck after that i applied for new one .
while filling the cibil form i have given new pan no, now i want to know the how they r going to give my score

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449 Manish Chauhan January 13, 2012 at 9:35 pm

Naveen

2 pan numbers ? Thats illegal ! .. Please cancel one asap .

Manish

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450 naveen January 13, 2012 at 10:05 pm

ok sir, but what will be my cibil score it considers old pan or new pan no

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451 C Subramanian January 14, 2012 at 7:18 pm

I found ur site only now. Good articles.

This article has confirmed my suspicion that the rude banks will henceforth influence and harass the customers threatening that any non-payment / non-agreement would affect credit score.
This is happening in USA and the credit card companies invariably re-fix the interest rates without the knowledge of customers, as it has started in India also.
Beware of western (cultured Indian) banks.
Subbu

Reply

452 Manish Chauhan January 15, 2012 at 5:40 pm

Subbu

Yea .. these things from west is now entering in India.. but are you in favour or maintaining the credit score or not ?

Manish

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453 C Subramanian January 15, 2012 at 6:49 pm

Credit score is important in todays scheme of things. We never know when we would be in need of funds.. may be for emergency or investing in asset.

Yes u r right. We also need to closely monitor all our financial laibilities and transaction.. may take a maximum of ten minutes in a week.

This will go a long way in keeping or enhancing ur credit score and also find out if u r paying charges, with out ur yourself knowing !!!

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454 Prabhat January 17, 2012 at 8:12 pm

is there any escalation level if response is not coming in timely manner.

Prabhat

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455 Manish Chauhan January 18, 2012 at 7:12 pm

Prabhat

As per RBI regulations , CIBIL has to make sure it resolves the dispute in 30 days .. when did you file the request ? Contact their customer care or write them back

Manish

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456 Prabhat February 18, 2012 at 12:57 pm

I raise the dispute on 13th Jan and still no confirmation when to get the correct report from CIBIL.

Regards,
Prabhat

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457 Manish Chauhan February 18, 2012 at 2:38 pm

Prabhat

Better call them and threaten them that you are complaining to RBI on this . This worked for one reader and he got the report in 1 hour . Try it

Manish

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458 Prabhat February 21, 2012 at 5:18 pm

I tried and even send the legal notice but CIBIL people are not getting up.

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459 Manish Chauhan February 21, 2012 at 11:26 pm

then let the legal thing happen , what legal action did you take ?

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460 Prabhat February 21, 2012 at 11:43 pm

I send letter through Advocate,lodge in RTI and also complained in Public grievance addressal system

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461 Prakash January 20, 2012 at 12:37 pm

Hi,

A good simple to understand and follow article.

I have never opted for a loan. Some years ago I had a SCB credit card which subsequently was surrendered without dispute. I now have credit card from another pvt bank and have been using it very judiciously and importantly always paying up in time. I do not foresee any loan (neither car nor house) requirement in future.

Do you suggest I go for credit score ? If so, which are other organisations apart from CIBIL ?

Thanks.

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462 Manish Chauhan January 20, 2012 at 12:39 pm

Prakash

Definately you should check your credit score and look into it just to make sure that everything is fine .. there are many surprises on this front . Now CIBIL score is available online also . There are other organisations for checking your credit score , but better wait for it at the moment ., on monday i am posting one article on that

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463 Dave January 20, 2012 at 8:00 pm

Hi Manish,
I have a question for you hope to get your help on this
My wife is having 4 to 5 Credit cards with her she is a regular payer to the bank for her minimum dues what I have suggested her is we will settle the credit card payment fully and close it but what she says is she will pay the full amount and not close the credit card and will not even use it unless there is an emergency. What I want to know is closing the card would hurt her credit score? Should I negotiate with the bank and then pay in full cause my wife says that if we negotiate with the bank that goes as bad mark on the credit score…. Is it all true… Please Help… What would be the right way to do it. Thanks….

Reply

464 Manish Chauhan January 21, 2012 at 12:29 pm

Dave

Definately if she does not pay FULL money , it will be a bad thing and she will be marked as “Defualter” and will never be able to get any kind of loan on her name . There is no reason why banks should not get their money back . So please act fast on that and clear all dues .. dont pay minimum balance if you can really pay all your dues on time .

There is no need to close the credit card , you can really use it for proper usage , use it each month and then pay those bills on time, having said , please use it only for those things which you really want to , else dont use it

Manish

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465 Dave January 21, 2012 at 4:50 pm

Hey Manish,
Thanks a lot for your help. Will clear all the stuff on Monday itself.Thanks again.Take care and God bless…

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466 vinod January 24, 2012 at 2:03 pm

Hi Manish,
Does paying long defaulted debt in full help in increasing cir score?
What are the options to increase a bad cir score in case no bank is willing to give you a credit card or loan?
Would really appreciate an early reply and thanks so much in advance. You really write great articles.
Warm personal regards,
vinod.

Reply

467 Manish Chauhan January 24, 2012 at 2:21 pm

Vinod

Yea .. definately it will help .. It will help your score come down , but in long term , not immediately

Manish

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468 Hari January 30, 2012 at 9:40 am

Hi People,

I have 6-7 bank accounts with different banks. I don’t usually use all of them. I use only couple of them regularly. I don’t even know if the unused bank accounts are still active or not. Having said that, I have a debit card for each bank account I hold.

Does this mean that I have a bad CIBIL score?

Pls share your thoughts.

Reply

469 Manish Chauhan January 31, 2012 at 3:35 pm

Hari

It should not be the issue actually, but the debit cards sometimes have charges yearly .. if you have not even using it , the charges might be getting deducted and your balance might have become negative .. so better to close those accounts .. Take action

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470 arun February 1, 2012 at 9:50 pm

Dear Manish,
I had cc and overdue of 8000, after sometime i got the bill of 22000, i ignored to pay, after some time agency people called me and asked me to clear the due, i came to know that the amount is increased to 49999(final settlement), i shocked, and agency pepoles are asking pay atleast 25000 and get clear, please advice me what can i do to get clear for all…?

Regards
Arun

Reply

471 Manish Chauhan February 2, 2012 at 2:45 pm

Arun

Unless you pay the full amount 49999 , your cibil will mention that you didnt pay the full amount and just Settled the case , thats all .. You might have to pay the price for your sins

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472 Rajesh February 2, 2012 at 4:30 pm

I had a bad credit history due to the negligence in my part. But, now i had settled all my pending dues/issues & from last one year have been very conscious in all the financial expenditures & payments. I currently have a credit card of which have been paying the full amount on timely basis. Also, i had received my CIBIL Report & currently mu score is 550. By next year, i need to apply loan for marriage. Can some one suggest what should i take measure apart from paying my all dues on time could help me to better my cibil score.

Looking forward to hear quality inputs from you all.

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473 Manish Chauhan February 2, 2012 at 4:34 pm

Rajesh

Incase your CIBIL report is totally fine and does not have any wrong data/report , then all you can do from your side is keep paying your dues on time and do not overuse the credit . Check your reports once again after 5-6 months from CIBIL and it would be good idea to check your score from Equifax and Experian also ..

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474 samuel surender kumar February 2, 2012 at 7:54 pm

Hi Manish,

I purchased the report online. I received a CBIL Req id. as S0212001145. However, I did not received any transaction ID. How do I get the ID also there was not e-mail address column provided. Could you please help me.

Samuel

Reply

475 Manish Chauhan February 2, 2012 at 8:22 pm

Samuel

Get clarity on this from customer care !

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476 sunder kumar February 3, 2012 at 12:56 pm

sir
please tell me the process for remove the cibil records

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477 KRaj February 8, 2012 at 3:28 pm

Dear Manish,

I got my second CIBIL report and now my score has changed from 731 to 767.

So my concern is,is this much score is sufficient to get HOME loan approval?

Is this score 767 is good as point of view for any bank for getting approval for HOME Loan.?

Regards,
KRaj

Reply

478 Manish Chauhan February 8, 2012 at 10:44 pm

KRaj

You can never quantify a score like that .. a bank has full control on their decision , the score is just one factor,. you can get a loan with 700 and also get rejected with 825 .. But higher score is definately better.. 750 plus is very good i would say

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479 Pallavi February 11, 2012 at 2:59 pm

Hi,

Does insurance is also shared in cibil?

Reply

480 Manish Chauhan February 13, 2012 at 9:15 pm

No

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481 Pallavi February 17, 2012 at 10:42 am

Thank u :)

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482 shashidhar February 17, 2012 at 12:15 am

I wanted to buy a new car on loan in my sisters name but it has been rejected by the bank, since my sister was a defaulter in credit card they say. My sister had two credit cards which was used and due to some personal reasons she could not pay the amount in time and she did’nt notice that for a long time once the bank people turned back to her and offered her for a settlement she paid accordingly but the offer was half the present,it was cleared and she got a settlement letter also and this was more than 1 year back she had settled now the bank has rejected her application for a new car loan. So my question now is wont any of the bank give her loans pls do reply ASAP or what am i suppose to do????

Reply

483 Manish Chauhan February 17, 2012 at 4:38 pm

Shashidhar

Even though your sister has “settled” with the bank , still the 100% money was not paid , so the bank has informed CIBIL that 100% money was not paid and this will NOT BE REMOVED unless your sister really clears the full loan . So you cant do anything on this . Your sister will not get any loan from any bank .

Note that just because bank has settled 50% of the loan , does not mean everything was good . Bank didnt get all its money and that will be mentioned in CIBIL . tough time !

Manish

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484 AL SHADAB February 17, 2012 at 8:56 pm

Hi Manish,

I really liked not only the articles but the question people have asked and the answers given by you, however in my case i had a mini Icici Bank Credit card worth 15K, which i got 6yrs back, some how i messed up with the card and also ICICI bank is not good at customer services so my quires were never got resolved to the satisfaction and i stopped all the payments and started getting n numbers of calls, threats, collection people started waking me up every morning but me being strong and delhite never bothered them and after 2yrs they started asking for 45K as full and final or settled amount of 13.5K which i didn’t pay till date neither i’ll pay. After this episode i got a personal loan of 1 Lack (HDFC) 1 Credit card of 1.4 Lacks , 1 used card loan for 1.5 Lacks (HDFC) and 1 New car loan for 10818 EMI (Mahindra finance), both the car loans have been paid in full and my current Pl tenure is 1yr and 4 months with an installment of 2886 for 4yrs….. now last yr i got into a company where they have a salary account with ICICI only and i had a doubt that they might take money from my salary account which never happened n i got a better opportunity i left the organization and forgot that salary ICICI account which was linked to my PL and due to my assumptions i bounced 4-5 PL emi’s and now i want to get a loan or top up on my current loan which i have applied in different banks and is not getting approved, however i have paid the bounces charges to the bank and all the bounce payments were made thru cash within 5-10 days of bounces. Still it has become a mystery for me kindly suggest ??

2) Also does checking the credit score thru CIBIL effects the credit scores??

and FYI
– I got the Credit card after all the bounces on my PL and icici mess.

- I got the Personal loan after ICICI mess.

- Now i am not getting any PL even thru Fullerton.

Reply

485 Manish Chauhan February 18, 2012 at 3:02 pm

Al Shadab

You got the loan earliar because at that time CIBIL score was not getting checked by banks, but now its getting checked. So now you will NOT get any loan unless you clear all the previous dues , including ICICI one .

Manish

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486 AL SHADAB February 18, 2012 at 4:21 pm

Okies Thanks Manish for your time…

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487 faiz khan February 17, 2012 at 9:05 pm

i had a credit card in previous time of Citi Bank in 2008, which has some dues of 12000 rs, which is cleared whole by me now 2011, i have talked to bank & cleared all issues also about CIBIL, bank said that they have updated my status as nill in CIBIL.
And important that when i have applied for credit card that time i has given only
driving licence that’s it, i get card, so is it possible for bank to put my name in cibil
as defaulter on basis of licence & how this time i will check my status in cibil,
It will good credit score or not after clearing dues ?

plz plz reply through mail, i am waiting for our valuable comment, plz tell me
more about my situation & what have i to do ?

plz reward me in mail

thanks
faiz

Reply

488 Manish Chauhan February 18, 2012 at 2:59 pm

Faiz

Your score would be low as of now , but now as you have cleared you dues, and bank said that it has communicated it to CIBIL , you should check your CIBIL score in next 1 month and see if the CIBIL report says that there is NIL balance. The score will still be low and only with time it will come down !

Manish

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489 Manisankar February 21, 2012 at 7:23 pm

Hi Manish,

Thanks for the article and your responses for our queries.
I finally applied for my CIBIL report and got a score of 815. Hope this is a good score. I found that 4 of my old credit cards taken in 2004 were not closed yet and the enquiry information shows exact date of all the loans and credit card applied dates for the last 3 years.
Thanks!

Reply

490 Manish Chauhan February 21, 2012 at 11:19 pm

Nice .. better close those credit cards now ..

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491 Swetha February 22, 2012 at 1:02 am

Hi,
I have a personal loan and i have defaulted , my loan completes in the month of april the collction guys asked me to settle the loan for half the price of the remaning loan amount which is rs 44000 and he said the NOC will be mailed to within 15-20 days and also can i get a loan again . Please guide should i go for the settlement or payoff the whole amount

Reply

492 Manish Chauhan February 23, 2012 at 4:44 pm

Swetha

Settlement is a temporary solution . But your CIBIL report will have this remark that you didnt pay off the loan and the settled it for a smaller amount (jugaad) . Dont do it !

Manish

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493 Sugand February 22, 2012 at 6:45 pm

Hi Manish,

I’m also into this CIBIL issue now coz of closing 2 cards – Settlement. I had HSBC & ICICI cards. In case of HSBC, the credit limit was 21k initially and suddenly without intimatin they reduced it to 18K. Next month they said I have to pay the outstanding and late fee as well. So I decided to close it and I did it in the next few months. For ICIC also I did the same. But I was not aware or not been told that this would effect my CIBIL. Only information they gave was I cant apply for card in their bank again.

But later ater the settlement & letters, I tried for a Personal Loan from my salary account bank – HDFC. They said it got rejected due to bad score and track. Also cannot apply any loan from now on.

I’m in real trouble now. Please advice me what should I do about this.

Thanks in advance.

Sugand

Reply

494 Manish Chauhan February 23, 2012 at 2:47 pm

Yes Sugand

You are in trouble .. Note that unless you pay each and every penny of both the banks which is as per their legal terms and conditions , your CIBIL score and report will be in trouble . Also note that settlement is something which companies do not like because it means taking less from you and taking some loss , but thats the last thing they can do , but they will make sure they make your life hell after that . I dont see anything wrong in that personally . Its business

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495 Rahul February 24, 2012 at 4:57 pm

Hi Manish,

Thanks for this very informative article. It has been very useful. I’ve been wanting to know:

Does CIBIL have knowledge of the EMIs one pays towards their loans. If yes, is this information shared with the bank when it raises a query about the status?

Thanks in advance,
Rahul

Reply

496 Manish Chauhan February 24, 2012 at 7:53 pm

Rahul

CIBIL gets this information from banks

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497 BASKAR February 24, 2012 at 8:23 pm

DEAR SIR,

I HAVE A TWO WHEELER LOAN

IF THE LOAN IS REFLECT THE CIBIL REPORT OR NOT,

I DONT PROVIDE MY PAN NUMBER FOR THIS LOAN

PLEASE CLEAR MY DOUBT FOR THE LOAN

Reply

498 Manish Chauhan February 24, 2012 at 9:45 pm

Bhaskar

Yes that will also reflect !

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499 Deepak Jain February 26, 2012 at 10:40 pm

Hello Manishsir,
If I deposit rs. 100000/- each in same bank but in two different branches(i.e. one lakh in each branch) then how much money is insured is it rs. 100000/- total or both Rs. 200000/- because they are deposited at two different branches of same bank.
In addition sir plz let me know how good is the Tamilnad Mercentil bank if I deposit my money in its two different branches . safest or not?
Are there any sort of bonds or FD which are completely tax free just like the earlier RBI tax free 6.5% bonds.
Thanking u. Plz reply.

Reply

500 Manish Chauhan February 28, 2012 at 10:33 am

Deepak

Total Deposits of only 1 lac will be insured, but I think you are too much worried on that point . Dont think that much .

These FD’s dont have any tax benefit unless they are 5 yr locking tax FD

Manish

Reply

501 manoj February 27, 2012 at 1:06 am

Hi Manish,

Need yr help. Recently applied for a PL and discovered my CIBIL rating as 505. Have settled a credit card from HSBC which was pending from a long time. Now HDFC, AXIS and other banks are asking for a rating of 750+. Stuck bad, how do I make my move now. Any bank which offers loans to a bad credit rating? PL needed is around 4 lcks. Income 4.5lacks p.a.

Reply

502 Manish Chauhan February 27, 2012 at 8:24 pm

Manoj

may be you are living with a myth that “settlement” is a good thing and it will not impact your CIBIL , but its not true .. Settlement still gets reported to CIBIL and its a negative thing . Unless you clear it off , it will remain in your CIBIL for next 7 yrs .

Manish

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503 Bhupendra February 27, 2012 at 11:23 am

Hi Manish,
I had taken HSBC credit card in 2006 and minutely used it. they also gave me a add on card which I never opened from courier and swapped. Due to my health condition, i have to leave my job immediately. and couldn’t close the card due to some reason. there was some positive balance in card when I left. Now my problem is right now i forgot the card number and don’t have bills also which were only 3 bills.
how do i respond to cibil since i don’t know what is my credit card number?
Will they fine me too much since the annual fee was 1000 rs.
Please help I am in deep stress. I haven’t take any other card or and never applied for any loan.

Thanks

Reply

504 Bhupendra February 27, 2012 at 11:28 am

Positive balance means I have paid more than What i had to pay so It was showing positive balance.

Reply

505 Manish Chauhan February 27, 2012 at 8:03 pm

Bhupendra

You can talk to the customer care of the bank and from your name, dob and other details , they might be able to give you info on your credit card . As you had the credit card the charges must have compounded and now it must be few thousands for sure !

Reply

506 Mini February 27, 2012 at 3:58 pm

Hi Manish,

It was a wonderful article. However i need a clarification. Almost 5 yrs back i took a PL and cleared it. However missed the due date for couple of months and paid it with the late fee. However when i tried taking a credit card last yr, it got rejected because of low credit score as i was a defaulter once. Kindly let me know how to fix up my credit scores to normal. I ve been paying my bike loan on time for the last 1 yr. Will that help in increasing my credit scores. Or should I need to do anything else to bring it back to normal.

Kindly advice.
Regards,
Mini

Reply

507 Manish Chauhan February 27, 2012 at 7:19 pm

Mini

Your name should not be in defaulter list as of now . Because you have cleared each and every penny . I hope you paid 100% and didnt do settlement for a lower amount ? Right !

In that case , seems like your bank has not updated to CIBIL the correct data , please raise a resolution request with CIBIL and get the wrong data removed : http://www.jagoinvestor.com/2012/01/cibil-credit-report-mistakes-correction-steps.html

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508 Mini February 27, 2012 at 7:35 pm

Thank You Manish… I also got a closer letter from the bank after the loan was cleared…. but when i apply for credit card it gets rejected… I will definitely chk with the bank..

Once again Thank you for your assistance… :)

Reply

509 Manish Chauhan February 28, 2012 at 12:20 pm

Better check your credit report ! .. you will get better clarity

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510 Mini February 28, 2012 at 2:57 pm

Sure.. Thank You!!

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511 Mini February 27, 2012 at 7:36 pm

Nd Yes I settled 100%…

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512 faiz khan February 28, 2012 at 12:24 am

Hi Manish,

In 2008 i have credit card of citi bank, which has dues of 12000rs, completly cleared on 2011 & promise me that updated as nill in cibil. I have given only driving licence that time for card, is it possible to put name in CIBIL on basis of DL & can i check my credit score sending my DL details in CIBIL, not having pan card,

plz tell me all this thing possible on DL details for bank & cibil, this is important for me.

Reply

513 Manish Chauhan February 28, 2012 at 11:40 am

Faiz

Yes your CIBIL report should be there .. try to apply it once

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514 DK Jain February 28, 2012 at 10:43 am

Hello ManishSIR,
If I deposit rs. 100000/- each in same bank but in two different branches(i.e. one lakh in each branch) then how much money is insured is it rs. 100000/- total or both Rs. 200000/- because they are deposited at two different branches of same bank.
In addition sir plz let me know how good is the Tamilnad Mercentil bank if I deposit my money in its two different branches . safest or not?
Are there any sort of bonds or FD which are completely tax free just like the earlier RBI tax free 6.5% bonds.
Thanking u. Plz reply.

Reply

515 Manish Chauhan February 28, 2012 at 11:36 am

This is already replied when you made this same comments earliar !

Reply

516 DK Jain February 28, 2012 at 10:56 am

Hello Manishsir,
” Please Answer ”
If I deposit rs. 100000/- each in same bank but in two different branches(i.e. one lakh in each branch) then how much money is insured is it rs. 100000/- total or both Rs. 200000/- because they are deposited at two different branches of same bank.
In addition sir plz let me know how good is the Tamilnad Mercentil bank if I deposit my money in its two different branches . safest or not?
Are there any sort of bonds or FD which are completely tax free just like the earlier RBI tax free 6.5% bonds.
“Please Reply”
Thanking u. Plz reply.

Reply

517 Ojal R. Pardesi February 28, 2012 at 9:47 pm

Hi Manish,

II had two credit cards one from HSBC and other one from Barclays Credit Card.
In case of HSBC, salesman told me that the firm I used worked in 2009 for that staff the credit card annual fees for a life time is free . But still I got a bill with annual fees after a month. Hence I complained to the Call center executive gave the brief about my complaint. I told him that I will be paying the amount which was spent by me and according I paid the amount with late fee charges and interest and annual fees . No further transactions done through the card and subsequently told them that I am returning it to them.
In Barclays Credit card case I had used this credit card for 3 month paying the dues I dropped my cheque in their drop box 1 day prior to due date. When next month\’s bill received it came with late fee charges. I contacted to call center executive and told him that I had dropped my cheque 1 days in advance then how come this charges. He said it received 2 days later than my due date as was not having any proof I could not prove it. I paid the amount due to me excluding the charges. 2-3 month they sent the later but later on they stopped sending bills.
Above two instance happened to me and had forgotten also. But this year when I applied for Two wheeler from my loan was rejected I asked reason for rejection they informed me that name is in CIBIL. Immediately, I called to the Call center executive one Mr. Abdul and he informed me to that my outstanding is approximately 3,587 I asked him that all the dues have paid on time and he told to visit Barclay at Worli office. I went at Worli office the executive asked to drop letter within a week time I will receive mail or a letter from Barclay from Chennai asking me to pay Rs, 4,600. After 10 days I received a letter and they informed me that Barclay will be not handle this case please contact Phoenix ARC Private Limited Dani Corporate Park, 7th floor, 158, CST Road, Kalina, Santacruz (E) Mumbai, Maharashtra 400098. I personally visited to the above address on 14 February 2012. I met MS Elvin and informed to call Mr. Chirag Mehta from Kotak Mahindra I called on his him immediately and he told me visit Mr. Akash Deep from Kotak Mahindra at Santacruz. I met Akash he told the amount is of 470 late fees I was surprised that I have received any instruction about it I paid all my principal amount on time than late charges is for what he forced me to pay the full amount and he will close my account. I told him to settle the amount Rs. 500 and I paid them the cheque on 14 February 2012. I requested the receipt of Rs. 500 he told me that I will directly receive mail and hardcopy on 15 February 2012. I got convinced.
Till 16 February 2012 I waited and called Aakash for my settlement letter he told me the letter has already sent. Please check your inbox I requested them to send me hard copy he promised me that he will send. On 21 February 2012 I again called him and asked I have still not received the hard copy he told me that I will check and call you after reminding 4 to 5 times a day. On 22 February 2012 I called me and Aakash spoke with me very rudely that when the letter will come I will call and disconnected my call. I felt very upset.
When I checked my saving account statement the cheque was not deposited in bank. Again I called Akkash on 24 February 2012 asking about the status he updated me that my letter is ready and I he will send it shortly. I informed him the cheque is not been deposited how will I get the letter he was surprised and he told me that I will check and he will informed me but after waiting I called him to ask for status again the same reply that he had already sent a query to their department when I asked him to mark myself in cc he was again rude and told me you not aware that the internal mails are not marked.

Now I need help I don’t know how to tackle this.

Reply

518 Manish Chauhan March 1, 2012 at 12:06 pm

Ojal

They are just making you run from one point to another point . .Nothing else . Better you get out of your comfort zone and threaten them for a complaint in consumer forum and nothing else and really you should do that . Please mail to http://www.akosha.com/ and ask them to file and complaint to them.

Let me also see if I can do something

Manish

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519 MANAB PRAMANIK March 3, 2012 at 12:45 am

Some days ago,I have applied for a, car loan from SBI. After that bank says that I have some outstanding in my cibil report from my credit card.I know which is a wrong statement,because I have only FOUR credit cards which was free gifted by SBI,I will never used those credit cards ever.But ,bank says that they dont pass my loan for not paying that previous amount.What will I do now?

Reply

520 Manish Chauhan March 3, 2012 at 10:19 am

Manab

Check your CIBIL report . Either your credit card has yearly charges which have accumulated and you dont know about it or you are not paying thinking – “SBI told me they are FREE , now I will not pay” . Unless you clear it , you wont have a good CIBIL score

Manish

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521 jisha March 3, 2012 at 1:52 am

Hi Manish,
wanted to check about the maximum duration any record (good/bad) remains on CBIL because as far as credit reporting in US is considered it is for 7 years.

Regards,
Jisha

Reply

522 Manish Chauhan March 3, 2012 at 10:16 am

Yes its 7 yrs in CIBIL

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523 Vibhu Jain March 6, 2012 at 5:29 am

Hi Manish
My question :
I have a CC from Citi which thry promised free of cost and after an year the bill came with 500Rs as fees and 50Rs as Service tax.
I sent an email to Bank and then after a lot of email chains(i have all with me) i paid my bill and not the yearly fees.
Then after a month i contacted bank again and re-activated my same CC and paid membership fees and service tax.
Now, will that affect my credit rating?
Thanks
Vibhu

Reply

524 Manish Chauhan March 6, 2012 at 6:07 pm

Vibhu

Yes .. but for the short term . If the bank has already communicated the issue with CIBIL , then your score might be low , but now as you paid it and now in future because of your proper payments, your score will get better in few months

Reply

525 prasenjit March 7, 2012 at 3:27 am

Hi Manish,

I have a HDFC credit card with credit limit of Rs:50000/- and i have taken so many things in EMI. Im very prompt in paying the EMIs. My bill gets generated on 5th and i always used to pay within 5 days of bill generation. Just wanted to know that do i need to check my CIBIL report in order to ensure that everything is updated correctly by HDFC bank? Coz in future i want some loans and i dont wanna get into problems because of any mistakes from bank side…..

Reply

526 Manish Chauhan March 7, 2012 at 4:27 pm

Prasenjit

definately you should look at your CIBIL report and score and check if there is any issue or not !

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527 psangani March 7, 2012 at 9:19 am

Hi Manish,
I got CIBIL credit score of 823 which seems reasonable and now want to apply for home loan. Can I negotiate with the bank for home loan based on credit score? Kindly advice.. thx
-psangani

Reply

528 Manish Chauhan March 7, 2012 at 4:19 pm

You will get the loan, however try negotiating , but generally in india the trend of giving lower interest to better cibil score holder has not started yet

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529 anil kumar nirmal March 11, 2012 at 6:38 pm

sir, last month i apply for cridit card to satndard charted bank he refused my applicatinn for resion for CIBIL. now i want to now my cibil cr. report

Reply

530 Manish Chauhan March 11, 2012 at 9:57 pm

Anil

So why dont you apply for it ?

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531 Ojal R. Pardesi March 12, 2012 at 2:25 pm

Manish,

Thank you you so much for your help I will compaint to consumer.

Regards,

Ojal

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532 Baig March 12, 2012 at 6:03 pm

Hey Manish,I know you are advising all on not doing settlements with banks but unfortunately when I decided to do this I was so naive and ignorant.I have done settelments with almost all the banks like axis,Citi,Hsbc, Deutsche bank.So I will be in the defaulters list.Also my loans are now closed I haven’t done any settelments on them just paid all the EMI’s.My question to you is after how long will I be eligible to apply for a loan.I know its my mistake but it was the situation I was in without a job for several months.However I want to get rid of this and be a good customer.If I approach Private financiers would they help me.Please advice…

Reply

533 Manish Chauhan March 13, 2012 at 10:46 pm

Baig

the thing is , in your case your cibil report and score would be surely messed up , for next 7 yrs it will be marked as “SETTLED” , so for next 7 yrs forget the chance of getting a loan at all , but even after that , unless you build your score , you will not get a loan .

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534 Srinivas March 13, 2012 at 9:47 am

Unfortunately, I no longer leave in India – and after 7 Years after closing my old SCB credit card – one day received an email saying they could not able to reach me since 7 years and threatened a lawsuit for not paying the outstanding balance. After deliberately giving the details and the emails that luckily i have not deleted in these years – Thanks to gmail, SCB sent me response saying they are closing it now – which was supposed to be closed 7 years back and they will update the CIBIL in 45 days.

The problem – until now which I do not know is – I am one of the defaulters in the CIBIL list.

How can I make sure – my credit history in India is not corrupted, because of the half-baked credit system GOI and RBI has approved ? Legally in US – consumers have a right to get his/her own credit history once a year for FREE. Seems – we do not have this in India.

Is there a PIL that can submitted for the good of all the honest people in India to maintain a good credit history ? Its a highway to identity theft as in US/UK and is multi-billion dollar industry to protect a person’s identity.

Thanks,
Srinivas

Reply

535 Manish Chauhan March 13, 2012 at 10:18 pm

Srinivas

I am very much sure that your CIBIL score will be bad and it will be messed up , the thing is over the years your credit card must have accumulated all the late fees and interest on it and thats what they would demand from you . Now if they are saying that they will just SETTLE Your card or just close it down and update in CIBIL , it means that they will tell CIBIL that this guy Srinivas has to pay us X amount but now we are SETTLING or marking it as OVERWRITTEN. next 7 yrs , it will be on your report .

Why dont you apply for it online , pay 450 and get it on email – see this : http://www.jagoinvestor.com/2011/12/get-cibil-score-online.html

Reply

536 T. Mukherjee March 13, 2012 at 5:24 pm

Hello,

I have a personal Loan from HDFC and I am willing to go into a settlement (not foreclosure or prepayment). I have no other loans.

Just want to know, how long will it take for me to apply and get a car loan in future ? And, as HDFC guy said to me, that as CIBIL might show “settled account” or “not a normally closed account”, I might or might not get a loan…what are my chances to get another loan, say car loan ? Thanks in advance

Reply

537 Manish Chauhan March 13, 2012 at 9:55 pm

T. Mukherjee

Once you settle the loan, you will not be able to get any kind of loan for next 7 yr for least and even after that you will not get it unless your score is good , which will not be good for sure unless you have a good credit behaviour

Manish

Reply

538 Jeshan A March 15, 2012 at 12:43 am

Dear Manish,

I have a score of 670 as i had a pending bill of a credit card of HDFC and they were message in the statement that it will be reported to RBI but as of now the bills are cleared fully and no settlement done and people of HDFC says that the card is permanently blocked so cannot reinstate the card again.Now the thing is that after clearing of all the bills how many score will be added to my reports after this.Also many were saying that mobile bills are also reflected in the reports which can bring down the score is it so as some time i get delayed while paying my mobile bills.

Reply

539 Vijay March 15, 2012 at 8:49 am

Hi Manish
Thanks for this article. My CIBIL score is just 634. Because of two credit cards, my credit history has been messed up.
1. HDFC Card – When I had taken the card, I was informed by the agent that there would no annual charge on the card. When they charged an annual fee of around Rs.800, I protested and paid all dues except the annual fee and asked them to close the card. However after 4 years, HDFC people called me and said there was an outstanding of Rs5K on the card, which was the outstanding plus interest.

2. SBI Card – This is a card which I hardly used. So I cancelled the card. I was informed that there was no due on this card. But it shows up in the report as “WRITTEN-OFF”. When I checked with SBI, they confirmed that there was no due from me. But they have not reported the correct status to CIBIL.

Since I did not want my credit history to suffer further, I paid the full outstanding amount on my HDFC card and got a No Dues Certificate. For SBI, I have sent several mails to them asking them to correct the information with CIBIL.

I am still pursuing with CIBIL on whether HDFC and SBI have removed the adverse comments from my account. My credit histtory has taken a beating because of misselling from HDFC and clerical error from SBI.

One more point about credit reporting – banks only report to CIBIL when there is default or negative behaviour. I have a home loan from Union Bank and I pay the monthly EMIs regularly for the last 2 years. But the CIBIL report does not have any mention of this in my report. When I checked with the bank, they said they would report only defaulters. So even though I am paying my home loan EMIs regularly, that does not get counted as good credit behavior and does not help improve my score.

CIBIL is always just one-sided and only looks at issues from the bank’s perpective. Even though they have a grievance redressal mechanism, it is not very effective and is quite frustrating. I hope some central (RBI or some other agency)regulator can step in and ensure that credit reporting agencies are fair to both the lender and borrower.

Reply

540 Manish Chauhan March 15, 2012 at 1:13 pm

Vijay

Its very surprising to hear that the bank told you that they dont report to cibil about your all actions . Who told you this ? Was it communicated by some junior level employee there ? He might not be aware about it . All banks do report all the actions to CIBIL .

Reply

541 Vijay March 15, 2012 at 4:41 pm

I checked with the branch and they said they don’t report to CIBIL unless the borrower defaults a payment. Anyways I can clearly see that the home loan account does not even show up on my report even though I had taken this loan 2 years back.

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542 Manish Chauhan March 16, 2012 at 10:32 am

Vijay

No this is wrong , your bank must be doing it . Wait .. there can be one thing , which bank is this ? Is this bank a member of CIBIL or not ? Check with CIBIL why the bank has not updated it ?

Reply

543 Kumar March 16, 2012 at 7:47 pm

Hello Manish,

Your article is fantastic and really made me to think of the CIBIL report as a lifeline for the future. I recently applied for my CIBIL CIR, the score is NA. I have few questions, please help out.

Not maintaining minimum balance in savings account is reported to CIBIL?

Does that affect my credit history?

What transactions are reported to CIBIL apart from loans and credit cards?

Do the banks report savings bank transaction history?

I have my first credit card now, it’s been 5 months I got my card. I paid all the bills up to date without any late payments. As am new to credit, please help we with some tips to get good score and maintain it.

Thanks once again for such a wonderful article. YOU ROCK!

Reply

544 Manish Chauhan March 17, 2012 at 11:39 am

Kumar

Score is not part of CIR , its just report . For Score you need to pay 450 and get the score.

Saving bank related things are not part of CIBIL , its only loans and credit which contributes in CIBIL

Manish

Reply

545 Rajeshkumar March 16, 2012 at 11:19 pm

Hi,

Very good article.

I would not recommend the online option. I got stuck at the authentication part.

1. Fill the online form.
2. Make the payment. (Upto here things were fine.)
3. Authentication > Step 1 > couldn’t understand anything. Three sections with check boxes and radio buttons to select without any help. Select the bank information does not provide the name of the bank; but just Member Bank 1; Account type 1.

Does not tell us what to do if we are not able to proceed. Is there a way to login again.

Useless website. Now if we try to use the contact form in the main page, it asks for the company name and designation, which is not required in case of personal information.

Thank you!

Reply

546 Manish Chauhan March 17, 2012 at 11:30 am

Rajesh

In your case you have already make the payment , so now all you need to do is take the print out of your documents + payment confirmation and send it to CIBIL , also check with their customer care

Reply

547 dhar March 17, 2012 at 6:05 am

HI ,

I am also interested to share something , i was having a credit card in some where long time back where there was no cibil concept ( mostly cibil came in to picture after 2007 i guess) , i have used the card of about 1500 and i paid 5000 including interest genualy i tried to pay the amount by going back that time bank people said they dont take money depost for credit card , they asked me to drop a cheque. Later i forgot to pay that , and my name was there as defaulter , later i have applied for some credit card and was rejected by the banks , but after some days bank people called me and said that they wanted to offer credit cards , and i have accepted their offer , now they have given me the card with limit of 260000 and also i have the credit cards of world known America Express ( it is not corporate it is my individual personal card) ……..so what i mean to say is …Bank is a Business , when they want to reach their target the do have exceptions on providing ….and there is no business in the world with cheating or fraud …it includes IT companies , as IT companies are also do business and they do cheat their customers for business ….business rules are not standard they do change according to their benefit and profit…..of course CBIL is the one which we have to manage , my sincere advise is don’t do much credits …try to save what ever you are getting from your income , because CBIL is not directly dealing with you some one is there in between CBIL and you …..which means “someone pee in the pool ,all get punished in the pool” you are giving chance to some one to decide your financial fate

Reply

548 Manish Chauhan March 17, 2012 at 11:22 am

Dhar

Thanks for sharing your experience, but it was not clear to me that what is the exact issue you are facing , can you explain that in short ?

Reply

549 Vicky March 21, 2012 at 9:34 pm

Hi Manish,

I have a Cibil Score of 504. I got my statement last week. I have 4 Credit cards and had couple of loans earlier for which I paid principal amounts but couldn’t pay the interest because of some financial problems. Their amounts are showing written off on my cibil reports. Only one loan is still showing not written off.
Whatever loan I am applying is getting rejected So what should I do to improve my CIBIL history.
I am using my credit cards extensively and paying full payments all the time.
I want to apply for home loan with my spouse so can it be approved as that loan is more secured and banks has no risks in that.
Thanks in advance for your help.

Regards
Vicky

Reply

550 Manish Chauhan March 22, 2012 at 12:30 pm

Vicky

You have some serious problem here . Dont look for any immediate improvement . You will first have to clear off your existing written off loans back , so contact all the credit card companies ,check what was your written off amount and pay it in FULL . Once that is done, you will then have to keep paying your other debt like credit card on time to make sure you build some repayment history , it will take few years to take your score past 750 , Only then you will be able to clear the loan , else not !

Reply

551 harsha March 26, 2012 at 8:27 pm

Dear Manish,
Recently i have checked my score in cibil was 598. I settled 2 cc and 1 personal loan 3 yrs back.How will improve my cibil score and which month i can check my score every year?
Thank you

Reply

552 Manish Chauhan March 28, 2012 at 2:31 pm

Harsha

598 is really bad. You will first have to settle all that money which you didnt pay (remaining amount) and then over the years pay off some regular EMI to show them that you are capable of repayment .

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553 harsha March 30, 2012 at 12:18 pm

Manish Thankyou very much for your reply

I dosen’t have any loans right now to pay the EMI and when will check my CIBIL score every year(Which month).I will try to pay remaining amount to the banks to get good score.

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554 Manish Chauhan March 31, 2012 at 11:55 am

Harsha

Check it after 6-8 months now !

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555 Vicky March 27, 2012 at 6:53 pm

Thanks for your quick Response Manish.
Paying back bank’s amounts and clear all the repayments will take time but I want to take Home loan in next few days.
Home loan is secured loan which is very less risky. Even then Banks do not give loans of bad cibil score like 500+ in my case.

Is there any other solution you can suggest?

Regards
Vicky

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556 Manish Chauhan March 28, 2012 at 12:15 pm

Vicky

I dont think there is any solution for this , I dont think unless you pay off all the things and get your score above 750 , you have any chance to get loan

Manish

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557 Rafiq March 29, 2012 at 2:47 pm

Hi Manish,

Can you let me know what should be the Idle CIBIL score we have to maintain in order to get any loans and what is the slab ( range ) …

awaiting for your response

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558 Manish Chauhan March 29, 2012 at 5:45 pm

Rafiq

Ideal is above 750 , 800+ would be best !

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559 Pankaj March 31, 2012 at 12:23 am

Manish,

I applied for my first CIBIL CIR in Jan 2011, received it in Aug 2011. CIR was clean and without a single -ve remarks like Overdue, Written off etc. But, I was curious to know my credit score as I currently hold cards of 7 credit card issuing banks.

So, Last week I again applied for CIBIL CIR + CIBIL Transunion Score; this time thru online route. Just today I received the CIR and score its 822 :)

1) Hope its a good score and I won’t have any difficulty incase I apply for a loan in future. 2) Is it possible to bring my score nearer to 900. 3) I have seen repeated inquiries by Kotak Bank, does this adversely effect the score

Regards,
Pankaj

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560 Manish Chauhan March 31, 2012 at 10:17 am

Pankaj

822 is a very good score .. you just need to keep paying your credit card bills , better close few cards and increase the limit of other cards ! .

Manish

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561 GIRISH April 2, 2012 at 1:29 pm

I Agree with Ganesh that this system has so many flaws which they need to improve. Also Banks should inform them about the recoveries as they promptly inform the outstanding
In spite of clearing all the dues one of the Credit card issuing bank was showing some good amount as outstanding in my case After showing the proofs they finaly confirmed that ther are no dues. When they recover the amounts in full and with interest and penalty then it need to be considered

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562 Manish Chauhan April 2, 2012 at 4:51 pm

Yes Girish..

There are some issues on banks side also , that is true !

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563 Ram Jasud April 3, 2012 at 12:54 pm

Dear Manish,
Is Rs. 142/- and 450/- is annual fees?
How many times I can get report in a year once I pay money?

If I need to check CIBIL report in next year, is it necessary to pay same fees again or it is one time fees only?

Thanks,
Ram

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564 Manish Chauhan April 3, 2012 at 4:49 pm

Ram

that is just a one time fees ,you will have to pay everytime you check your report (142) or Score + Report (450)

Manish

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565 Arun April 6, 2012 at 9:15 am

all of you guys are pathetic and reading and writing articles like this .
most of the educated people know what is CIBIL you should mention how to remove your name from the CIBIL report.

you guys are just like Government employees . no one wants to do anything in favour of consumer .

i never applied for any loan just 2 days back i applied for a consumer loan and i came to know that my report is negative .

i donot even have any personal bank account as well all i used from last 10 years were different salary accounts. i changed the company closed the previous bank account and used a new one . now tell me how come my report is negative . if i never applied for any loan or credit card .

the fact is this is INDIA anything can happen because of all these govt authorities . anyone can get anything with the help of someone else’s id . i just gave my id 2-3 times to get a phone connection and that to be self attested might be possible the person i gave the id to used my id to get a new connection or may be something else .

noone knows what was happened .

and you guys are just becoming heroes by writing all these unwanted or useless articles .

so it’s better to stop all this bullshit and try to fix the problems we all facing with CIBIL .

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566 Manish Chauhan April 6, 2012 at 9:55 am

Hi Arun

I can see you are really disappointed at your CIBIL report, but how does it help by venting your anger here. This is an information based site , thats all . How come we are personally related to your case ? Here is an article which might be useful for you : http://www.jagoinvestor.com/2012/04/tips-to-improve-cibil-credit-score.html

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567 Jagan April 11, 2012 at 12:31 am

hi Manish,
my CIBIL score is 750, planning to go for a home loan, is this score is enough to get my loan sanctioned? if not, how can i improve my rating?

kindly suggest.

-Jagan

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568 Manish Chauhan April 17, 2012 at 8:43 pm

The only way to improve a rating is to have a good credit behaviour , just keep on paying your dues timely .. that will take some time

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569 Rajesh April 13, 2012 at 11:12 am

Hi,

Nice informative artilce. Eye opener on lot of points. my query, recently i applied for my Cibil score after reading your article and the score has come as 815 yesterday. I have applied yesterday for home loan from HDFC. How bad is my chances? one of the probable raesons for my low score could be that i was an co applicant for my father’s home lona, which during payment period of 6 years had defaulted in between for 2 or 3 times (means late payment) and in the last as he wanted to clear the entire balance amount, he dint paid 2 EMIS and finally cleared the entire balance. As a co applicant this has defaulted my score? Rest all could be because i use credit cards and i pay them fully but yes i use the credit limit to good%.
Do give your valuable comments please….

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570 Manish Chauhan April 17, 2012 at 5:11 pm

Rajesh

Yes , your score must be impacted because of the loan you were co-applicant for .. but your score of 815 is really good .

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571 sandeep April 17, 2012 at 12:44 pm

Hi,

i have applied for a personal loan and it got approved. I was a bit apprehensive about the cibil score as my credit behaviour has not been wise. Can anybody tell me what would my cibil score would have been ( indicatively).

Thanks,

Sandeep

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572 Manish Chauhan April 17, 2012 at 1:23 pm

Sandeep

Seems like your score is above 750 . But why dont you check it once ?

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573 sandeep April 17, 2012 at 1:26 pm

Thanks.

Anyway i have asked my bank guy to share the report with me.

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574 Rajesh April 17, 2012 at 5:57 pm

Thanks Manish…

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575 Arjun April 17, 2012 at 5:06 pm

Dear Manish,
Thanks to you for inspiring me to get my CIBIL report ( which i was avoiding since last year). bacause of my bad financial skills i thought my score must be below 500 as i had defaulted on 3 credit cards and one personnal loan in 2008 due to loss of job. last year i settlled all the credit card and it is reflected in my CIBIL report. For my surprize of score is 730. As i dont have any credit cards and also wont be getting at this score. please suggest how to improve my score?
One more thing. in my CIBIL report i have written off status from SHAHA finance ( after googling i came to know its standard chartared CC collecteion agency). but that dispute i had resolved in 2007 . StanC has issued one demand draft on my name which i never recieved. i spoke to those guys when they started charging me. after some time they agreed on there mistake and sent me apology letter saying they will remove my name from CIBIL. i am not sure how to go about it, should I get that entry removed from my name (as this is the only wrong “written off” entry, i have other correct entries as settled and post(wo) settled). will it improve my score a bit? if so whom to contact? to CIBIL or to StanC?. Please help….

Regards,
Arjun

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576 Manish Chauhan April 17, 2012 at 5:45 pm

Arjun

Open a dispute resolution with CIBIL http://www.jagoinvestor.com/2012/01/cibil-credit-report-mistakes-correction-steps.html

Then if you have some FD etc , then ask for a credit card against that FD and start using that CC and start building some payment history ! . That would lift your score slowly

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577 Ameer April 20, 2012 at 9:50 am

Hi Manish,

Thanks a lot for the article it was a great help and i also applied for the CIBIL report.

I got my report and it shows my score as 638, which i thought was a good enough score to apply for a credit card and i was declined.

I had 5 year old loan pending which i could not pay up and in the report it stated as written off, it does not say in detail what should i do to clear it, as i had taken personal loans from 3 banks and i had paid 2 banks, but i am not sure which 1 bank is still pending.

What should be my next step as i need to get a credit card to build my credit score and in about a year to 2 year would like to apply for a housing loan.

What do you think would be the best practice for now.

Will be waiting for your reply,

Thanks & Regards,

Ameer

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578 Manish Chauhan April 20, 2012 at 10:16 am

Ameer

I feel strange how you dont know which one bank is remaining out of 3 banks , it was you only who took it , right ? Then how come you dont know yourself ? Now coming back to the point , your score of 638 is very low and not going to get you any loan , a score of 750 is required at least to get a loan , 800+ is what you should aim for .

The first step is to make sure you pay off all the liability of the loan , and ask your bank to update the CIBIL about the complete payment , so that “written off” word is taken off .. Then you need a credit card , but it will be tough to get it , for that you better make a FD of 1-2 lacs and ask the bank to give you a secured credit card , then you use that credit card to make the payments regularly and build the credit history

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579 Dr Anup Pramanik April 21, 2012 at 9:20 pm

Hi Manish,
Kudos to u for the great work! I have a query, plz help…
I don’t have any credit card nor have I ever applied for any loan. Recently I needed to purchase a fridge for which the sales guy offered to pay by emi. During loan approval by bajaj finserv they cudnt login my request, reason they gave is cibil score less than 700.
Cud u tell me how my cibil score is low?
In future I need to apply for home loan etc . Will there Be any problem? Plz help…

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580 Manish Chauhan April 23, 2012 at 10:20 am

Anup

The first thing you should do is check your CIBIL score .. I am sure if you have never taken a cc or any kind of loan, then you dont have any score at all .. but still check it , I think you should start with a credit card and using it (not misusing or over using) and start building your score and report

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581 Dr Anup Pramanik April 23, 2012 at 10:57 pm

Thank Manish,
I will follow the same. Recently I applied for hdfc platinum card and waiting to receive the cc. Let’s see…

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582 Sanjai April 24, 2012 at 3:42 pm

Dear Manish,

I would like to know how to get scores for oneself?

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583 Manish Chauhan April 24, 2012 at 7:09 pm

Sanjai

Its clearly mentioned in the article itself that how to order it . Did you check it ?

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584 Shaik Abdul Mazid April 26, 2012 at 5:08 pm

Hi Manish,
Recently I have seen your link.
I have some queries. request you to suggest me on this.
I have applied for personal loans and credit cards in 2007 and due to some reasons last one year payments got delayed and aI am paying the loan amounts to the collection executives from banks. Now my CIBIL Score is 540, (I know it is a very bad score). I have cleared all the loans and closed the credit card payments. Now I don’t have any loans or cards on my name. When I reach banks for loans or credit cards they are rejecting it stating that CIBIL score is not matching. I came to know that unless untill we have some loans or Credits cards and payments are running smoothly CIBIL score will not increase.
Please suggest me how to improve CIBIL score with out any loans or Credit cards.

Regards,
Mazid

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585 Manish Chauhan April 26, 2012 at 5:25 pm

Yes .. you made a mistake by closing all the credit cards .

You should have kept atleast one . Now do one thing , this path is little tough , but you dont have a choice . Make a FD of 1 lac and then ask bank for a “secured” credit card against the FD , most probably you will get it because its against the FD and not unsecured.

Then you start using that credit card to pay off your bill on time . Just make sure you dont utilize more than 50% of the limit of the card .. Do this consistenly and keep patience , you will get the score up in few months to 1-2 yrs .

Manish

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586 Manish April 27, 2012 at 3:32 pm

Dear Manish,
I like to know something about CIBIL if you guide me some thing i will thank full to you….My brother taken many C/cards..from many bank when he was on good job and payment of that cards are very fine …while he was on job…but after he leave his job…many problems come across him…many due become pending…..after i came in we start business and …many due we settled..Now today all due from bank are cleared….but we make settlements…because bank charges very high charges,,,So we make settlement and cleared all due.. now in coming years we are planing to take home for that we have to take loan from bank ..So shall now i can used my brothers name with me for taking New loan..

Thanks
Manish

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587 Manish Chauhan April 28, 2012 at 11:58 am

If the loans were “settled” , means the money you paid was less than the outstanding, then this will be reported to CIBIL and it will prevent you from getting any loans in future. You first need to pay all the outstanding balance

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588 Manish April 28, 2012 at 2:23 pm

But now how can i contact to bank..n the main thing is that…bank charges many thing …some bank charge more then . actual balance what about that….
Now i am paying behalf of my brother ….i paid as i can ..and i can pay more ..
but how can i pay..that illegal charges which bank..put in my brothers account ..
So please guide us …So we can go in straight forward .
Thanks for replying .
Manish

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589 Manish Chauhan April 28, 2012 at 8:21 pm

yes Bank charges many things , but they are not illegal , which charges was not as per terms and condition of the agreement ?

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590 Anji April 30, 2012 at 6:41 pm

Dear Manish,
Recently i have checked my score in cibil my score is 604.

i have 4 loans

1.bike loan and – amount overdue 2415rs( but i have cleared)
2.home loan – no due
3.Gold loan SBI – amount overdue1470 rs( this i have taken 08-09-2010 i have paid 30-06-2011 the total amount is 14000 only i have paid to the bank but in my cibil report it was shows amount overdue is 1470i was shock )
4.Citibank- over draft -no due
two loans are due one is gold loan 1004 rs and one is bike loan 2014 but these tow are cleared for my side i need to go bank and i need to ask for this please advise…

why my cibil scrove is 604 only?

what i will do to improve the score?

Thank,
Anji.

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591 Manish Chauhan April 30, 2012 at 9:04 pm

Anji

You just need to make it clear with bank , why its showing due if you have cleared it, once you bank agrees that there is no dues, then ask them to update CIBIL about it .. Then it will get updated in CIBIL in few weeks time .

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592 vinodkumar govindbhai patel May 3, 2012 at 11:22 am

I am in defaulter list ?

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593 Manish Chauhan May 3, 2012 at 7:51 pm

Check your CIBIL

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594 Purna Chander May 3, 2012 at 2:32 pm

Dear Manish,

Thanks for the article. I went on to submit a request for my credit report after reading this article and received it too. Got a decent score of 815.
I have of a duplicate entry in my credit report. I had a car loan (from ICICI) which was closed on completion of the loan tenure and I received a NOC from the bank. My credit report has two entries for the same loan, one shows that the loan is closed and second shows an outstanding amount of 60K approx. I have raised a dispute on 23rd Jan ’12 using the process available through CIBIL. Even after multiple followups {to info(at)cibil(dot)com} my dispute is still not settled.
Can you please guide me if there is any contact to whom I can escalate this matter to ? Or anyother way out ?

Thanks – Purna Chander

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595 Manish Chauhan May 3, 2012 at 7:16 pm

Purna

DId you talk to their cc ? Do one thing , please mail them once again and this time cc to RBI mail also ,, that should help a bit

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596 Purna Chander May 5, 2012 at 11:08 pm

Dear Manish,

Thanks for a quick response. I’ll try to speak to their cc. also let me know the RBI email id that you are referring to.

Thanks – Purna Chander

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597 Manish Chauhan May 8, 2012 at 2:54 pm

THis RBI email is just to threaten them .. get it from RBI Website !

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598 praku May 4, 2012 at 8:03 am

Hi,

I am in need of the CIBIL report to check the credit history. Checked in the cibil website and they have asked to to fill the online application form and paying the amount of 470/- rupees towards registration. Is this registration a 1 time process and use for taking report for lifetime or early renewal fess is there. or for getting a single report it costs 470 rupees.

Regards,
Praku

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599 Manish Chauhan May 4, 2012 at 5:08 pm

Praku

Its a charge you have to pay EVERYTIME

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600 N Nageswara rao May 4, 2012 at 11:20 am

Hi Manish

i had a personal loan and bike loan in 2009 which i was defauled for some emi s
but leter on i was preclosed bike loan in advance and settlement was made with personal bank and paid balance amount. now whether i will get housing loan ?

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601 Manish Chauhan May 4, 2012 at 5:05 pm

I dont think so , settlement (paying less than the actual amount) is just unacceptable to other lenders , and despite a great score , no one will lend you . The first thing you need to do is get rid of that remark by paying up the extra money

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602 SANTOASH May 4, 2012 at 6:34 pm

hi ,
If bank put name wrongly in report then who will be the responsible. Is any way that bank should inform the custmoer about this default list in cibil

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603 Manish Chauhan May 5, 2012 at 12:17 pm

Santosh

NO one is responsible here , the bank has to rectify it ideally

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604 Gagan May 6, 2012 at 11:43 am

Well written article Manish.. Just a piece of advise for users -
Issues can happen from both customer n bank side. Wherever – you have a dispute seems arising – do ensure to keep all correspondence records with the bank n acknowledgement receipts of payments done.
Its possible that bank may show you with a delinquent payment pattern, and this you may only be able to know at the time of making a new loan application. Having, proper records of the issue can help you to appraise your loan with the prospective lender and the credit team may exercise deviation powers to sanction loan basis the correspondence records – once its proved that its no fault of yours in the issue mentioned in CIBIL

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605 Manish Chauhan May 8, 2012 at 2:52 pm

Thanks for those tips and guidance !

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606 satish May 6, 2012 at 10:28 pm

hi,

I have two credit cards. One is from HDFC and other is from citi bank. Due to some emergency , i made a shopping(in june month 2011) and used all my limit (35000 + 50000). After that every month i paid only my minimum balance and could not pay complete outstanding amount. Its been around ten months. Today i paid of all my outstanding amount. Will it reflect as bad in cibil . how many days will it take to reflect that in CIBIL.

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607 Manish Chauhan May 8, 2012 at 2:39 pm

Satish

Actually this will not reflect in your credit report per se , there wont be mentioned that that you made late payments , but ultimately you finally paid all the outstanding amount , however your credit score might have taken a hit because of this , better check your CIBIL score !

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608 satish May 8, 2012 at 3:27 pm

I have checked my cibil score it is 765 I wanted to know whether it is good enough to get home loan

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609 Manish Chauhan May 8, 2012 at 5:01 pm

It is ok .. I would say you might get a loan given you have nothing negative on your report

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610 vinay May 8, 2012 at 2:24 pm

it is good we know some thing more on that to read

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611 RAMASAMY May 8, 2012 at 6:09 pm

Dear Manish,

You are doing a wonderful job for the people to understand clearly about CIBIL. Like you mentioned I also applied for Transunion score online and got the same mailed to me within 4 working days as mentioned by CIBIL. Now I have got a score of 761. I found in the report that even a Jewel loan from Private bank also reflect in my report which is not a default. Is it neceesary for the banks to update the jewel loan also to CIBIL. Please clarify my doubts to understand the same better.

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612 Amit Kumar May 12, 2012 at 1:08 pm

Hello sir, My self Amit Kumar, in past i was using hdfc credit card and also used for some bajaj finance, but now no dues. now a days i want to take car loan , my hdfc bank says 6 bad match reported by CIBIL with mr. tejaswani, and mr. sachin bhardwaj, but i dont know any both people in my life,
pls suggest me how can remove this name and while my CIBIL score is 797, but my bank is not agree for given home loan. pls help me.

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613 Manish Chauhan May 14, 2012 at 6:42 pm

Amit

Score is not everyting .. what remarks are there in the report matters more .. First apply for the report and have a look at it ! . Also follow this http://www.jagoinvestor.com/2012/04/tips-to-improve-cibil-credit-score.html

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614 maan singh chauhan May 12, 2012 at 9:17 pm

hi

sir we have a sbi credit card long time back and also sattled for all out standing but now two wheeler loan time it’s reflect agin, pls advice to me how can i remove my name to cibil site, and also advice what’s step we take now?

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615 Manish Chauhan May 14, 2012 at 6:27 pm
616 Rajesh May 13, 2012 at 12:21 am

My cibil score is 816. 2-3 yrs back i had settled 3 credit card and same are shown as settled in the report. Even though my home loan was approved by axis at competive interest, still my credit card application gets rejected.
Kindly help.

regards
Rajesh

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617 Manish Chauhan May 14, 2012 at 6:25 pm

Rajesh

That can happen .. “settled” is a negative thing .. the credit card section might have rejected it based on your report (unsercured loan) , whereas Home loan is more or less a secured loan (house is mortgaged) , so it was approved , thats how I am looking at it !

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618 Rajesh May 17, 2012 at 8:30 am

Dear Manish,
Thanks for the reply. i wish to clear off the settled amount, but banks are not responding. How should i go about it. kindly advise.

Rajesh

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619 Manish Chauhan May 17, 2012 at 9:59 am

Rajesh

It will be tough now .. Once they close the matter as written off, they generally dont open it . Meet some high official at bank , may be bank manager to understand the next action

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620 Anirudha May 13, 2012 at 9:19 am

Hi,

I took a personal loan (PL) from fullerton India a year back at 18% ROI (Rate of Interest), since last 3 months I have been getting calls from one of their executive for a top up loan but I didn’t give any response to her, this month I applied for Tata Capital loan beacuse they are offering 16% ROI, so I thought to pay off my earlier loan and pay the captial loan with less ROI, I have never missed a single EMI of my current loan or any other loan I had in the past, my credit card amount is also well below permittable limits, the TATA guy who is working to get my loan done told me that I have made enquries in the last 2 to 3 months to banks about PL and got rejected as per CIBIL, of course, I have a good memory and I know I didn’t call a single bank in last 1 year with any such enquries, not sure how my “alleged” enquries are showing in the CIBIL report, I am anyways going to get my report but do you think the executive calling me for top up loan and not me to her will be entered in this report?

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621 Manish Chauhan May 14, 2012 at 6:23 pm

Anurudha

First check your CIBIL , Someone callling you should not be reporeted in CIBIL . I dont think so !

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622 Sagar May 28, 2012 at 1:20 am

Hi

2 years back I had done settlement for credit card ,. I took cibil report and have score 812. But under this credit card ..they have made Post(wo)settled. Now the balance is showing under this card is 53000RS.. I want to apply loan now..shall I get loan or not?

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623 Sagar May 28, 2012 at 1:29 am

6 months back , when i have applied a credit card,it got rejected..So shall i get loan by having credit score of 812. how can i proceed further for CIBIL Issue.

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624 Manish Chauhan May 29, 2012 at 11:00 am

It will be tough , just a good credit score is not going to help you , that “settled” remark will impact badly , most of the banks will reject the loan to you . You need to first make the outstanding balance payment and get rid of that

Manish

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625 Karthikeyan S May 28, 2012 at 4:59 pm

Dear Manish
i got an ICICI credit card and my total outstanding was rs.47,000/- and the usage amount was Rs.29,000/- , now i spoke with ICICI and they informed me that if i pay my usage amount(Rs.29,000/-) as 6 instalments means my CIBIL report will become positive in 3 to 6 months time from my last instalment, is this true. Pls advice.

Rgds
Karthi

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626 Manish Chauhan May 29, 2012 at 10:36 am

No , the bank will in all probabilities tell CIBIL that its a “settled” case . and this will impact your score badly in future . better pay all 47k , after all its created by you only

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627 rakesh May 29, 2012 at 4:41 pm

Hi manish,

nice information. what is the minimum score we should have in cibil to get the loan from sbi. Also is it really sctictly followed.

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628 Manish Chauhan May 29, 2012 at 9:20 pm

750+ is good enough

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629 rakesh May 29, 2012 at 4:45 pm

hi manish,

is cibil strictly been followed ?

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630 Manish Chauhan May 29, 2012 at 4:55 pm

Obviosuly .. not just strictly followed, its a standard , Its a part of the process now . You cant escape it

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631 Balasubramaniam May 30, 2012 at 10:23 pm

Hi Manish,
450 Rs is only one time fee for seeing ur Credit score or every time if u want credit score u need to pay 450?
Suppose if accessing my credit history in Jan 2012 by paying 450 & on aug 2012 Again i want to see my credit history so i need pay 450 once again?

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632 Manish Chauhan May 31, 2012 at 12:36 pm

Every time

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633 Sunil Gaikwad May 30, 2012 at 11:45 pm

Hi Manish,

In my CIBIL report words are seen like ACCOUNT PURCHASED, WRITTEN-OFF what actualyy it menas

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634 Manish Chauhan May 31, 2012 at 12:36 pm

You should concentrate on WRITTEN OFF , it means you had some loan which you never paid and company has declared it as BAD LOAN and marked it as WRITTEN OFF , its a negative thing , and impact your badly

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635 Sundari C June 1, 2012 at 3:26 pm

My father due to his loss of job became credit card and personal loan defaulter and was reported to CIBIL.I am residing in the lower portion but with the same address.Now I want to apply for the home loan.I have never applied for credit card or loan in the past.Will I get the loan. Thanks sir

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636 Manish Chauhan June 1, 2012 at 5:27 pm

Sundari

This is tricky .. I dont think there will be much issue , but because of the same address there can be some issue , very small chances, but i cant deny it .

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637 Sundari C June 2, 2012 at 7:27 am

Manish thanks for your quick reply.

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638 Mohit Montu June 2, 2012 at 6:08 pm

Hi Manish,I have applied for a home loan from SBI. Yesterday I got a call from the bank saying that my loan application has been rejected as I have a credit score of 654 in CIBIL.
I had a credit card from ICICI which was used for Rs.40K by one of my friends saying that he will pay back to me (which never happened). After a lot of calls from the bank I paid the amount (40K) and settled the credit card.
I have had a 2 wheeler loan, and 2-3 other credit cards where I have never defaulted and everything is fine.
Is there a way I can improve my credit score which will help me in getting the home loan.? Need your help…

Reply

639 Manish Chauhan June 2, 2012 at 10:59 pm

You are in a bad situation , more than you can imagine . I do not want to scare you , but unless your score is more than 750 and your report is clean , you dont stand a chance to get any kind of loan .

1. What was your outstanding amount in your credit card, the amount used was 40k , but did it grow to more in few months and later you settled the loan (i mean paid less than outstanding) , In which case your report will have remark of “SETTLED” .

If this is true , then you first need to pay off the outstanding amount , and only then the first hurdle is clear .

2. Right now what do you have ? Do you have any loan / credit card ? If not ,then you should get one and pay off the dues each month . Within few months to 1 yr, you should get a better score .

I am sorry to say but in short term you will not be able to increase your score :(

Manish

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640 vishal June 4, 2012 at 12:11 am

Dear Sir ,
Greetings

i have a credit card from BOB, i want to settlement of my card, but i have no idea please help me in this matter that how to settle my card and i dont want my card more.
Thanks
Vishal

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641 Manish Chauhan June 4, 2012 at 11:49 pm

Settling the card will be a negative thing for your credit score ..

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642 Vishal June 6, 2012 at 5:56 pm

Dear Sir,

So please tell me what can i do in my matter.cause i have no more amount to high intt. of credit card.please give me suggestion.
Thanks

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643 Manish Chauhan June 6, 2012 at 6:34 pm

You should contact the credit card company and explore how you can pay off all the outstanding loan

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644 NIshant June 4, 2012 at 3:32 pm

Hi Manish,

Ur bolgs n provided info are vry helpful for us.

I have a query, its regarding my ICICI credit card, which was issued in may 2007 wth the credit limit of Rs 10000. I had dues pending of around 9000 till dec 2007 and it got settled in MAy 2008 , by paying Rs. 5000 , to a third party recovery sent from ICICI bank. he gave me a receipt and told that I would getting the settlement letter via email, which i never got. It was my first job, through which i got the both debit n credit card and wasnt aware much abt the credit n all.

Months I got a call frm the ICICI bank stating that i hve outstding of Rs 29000 and they can settle in Rs 12000. I was amazed n shocked that how come it happened ? on asking the ICICI bank they said that they never received any sum from my end. and also told that they have stopped hiring the 3rd party for collection n recovery now.

Now i am worried abt my credit score. they said as they are settling in Rs 29000, e’thing would be fine. But i am pretty much sure that even after after paying Rs 12000, it wil hamper my credit score. one question that also arises that why did they contact me after 3 years or so ? where was the ICICI bank in past years ? were they asleep or was willing to cheat the customer, so that they can generated more interest towards the principal sum and extract more money from customer pocket ? On asking all these questions , they had no answer.
please guide me shud i pay 12000 or not ? whether it gonna clear my outstding ?

Many thanks,
Niks

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645 NIshant June 4, 2012 at 3:34 pm

correction in statement : Now i am worried abt my credit score. they said as they are settling in Rs 12000, e’thing would be fine.

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646 NIshant June 4, 2012 at 3:40 pm

WOuld my name listed under defaulter’s list ? do i need to apply for CIBIL Report ? please guide ..

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647 Manish Chauhan June 4, 2012 at 11:32 pm

Niks

You are in bad position . Mostly the guy who collected money (5k) from you was fake, he must have got info from somewhere about this and fooled you . You should have taken some kind of receipt from him , which you failed .

Now your outstanding is 29k and unless you pay each and every penny , your remarks in your credit report will be either WRITTEN OFF (if yuo dont pay anything) or SETTLED (if you settle) . This is impact your score badly , and more than that you will never get loan if those bad remarks are there .

Manish

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648 NIshant June 5, 2012 at 4:40 pm

shud i apply cibil report online ?? doesnt bank showed negligance.. y they contacted me after 4 yrs or so … advice plz

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649 Manish Chauhan June 6, 2012 at 6:38 pm

Nishant

If you are clean and have no issues from your side ,then you can sue the bank and get compensation , else you are equally responsible

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650 dinesh June 6, 2012 at 2:46 pm

Hi Manish,

I am having ready credit account linked with my savings account and I have to settle some amount for the ready credit account. Will that affects my cbil score?

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651 Manish Chauhan June 6, 2012 at 6:09 pm

I didnt understand your question

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652 Aranya June 6, 2012 at 5:26 pm

Hi Manish,
First of all… thanks for writing about this issue and secondly appreciate that you have answered every one :) that’s really kind of you !
I also have defaulted in paying one of my HDFC credit card properly years back due to lack of knowledge & had a personal loan of 90k back in year 2008 and lost track of payment due to super bad financial loss and job loss. Now I have recently settled the credit card and yet to clear the personal loan, which is why I am not getting any loans now. One of my friend, working in a bank told me that even if I pay and clear all the remaining debts (the amount shown in CIBIL for CC & PL) I may have difficulty getting any loans in future or it may take years. Is that true?

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653 Manish Chauhan June 6, 2012 at 5:52 pm

Yes Aranya

Just make the payment for past dues , does not take your score up , however dont feel that its not to be done , thats the first step . Unless you do that, dont try to increase the score because lenders look at report also as first step , only then they see score .

Once you pay past dues , then you need to work on your score . Get a credit card and start paying the dues ,your score will get better in 1 yr

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654 Aranya June 6, 2012 at 6:06 pm

Thanks Manish …. :)

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655 Jagan June 7, 2012 at 8:00 pm

Hi Manish,

After going through this forum , I applied for CIBIL credit report last month, I got the report from CIBIL.

My credit score is 742 and I took two personal loans and 3 credit cards. All the loans and credit card outstanding amounts are celared on time except HSBC creadit card payment. It shows in CIBIL as written-off.

I made total payment in 2008 and unfortunately there was 800 rs/- due since 2008 and it is around 20,000 now with late payment and interest charges.

I wanted to go for settlement, will this effect my loan approval going forward.

Can you please advice me somthing pay less other than paying 20,000 rs just for 800.

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656 Manish Chauhan June 7, 2012 at 10:08 pm

Jagan

You are in trouble . That Rs 800 why didnt you settle at that time , Bank is not wrong here , that Rs 800 has grown to 20k because each month the interest charges were added and heavy penalty each month and due to that a small amount grew . “WRITTEN OFF” is the worst remark you can have in your report . Sadly you will have to pay off that 20k now , only then the bank will update the remark to CIBIL . Better not to apply for any other loan unless you get the report clean , your score is ok i would say ..

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657 Trilok Malhotra June 12, 2012 at 8:32 am

The Cibil is totally a non sense /mess up. If you apply for your cibil report, they should send a hotch potch report mixed with some other’s report, name should be yours but the data will be of some one else and in one’s report name and pan card no. of some one else appears. It appears that they are doing their job casually without any seriousness, without considering the impact of it on someone credit /financial goodwill. I am surprised why most / all the banks are relying on CIBIL report and consider it as bible of credit worthiness of a person.

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658 Manish Chauhan June 12, 2012 at 7:36 pm

Trilok

Its because CIBIL is created by Banks only .. and these mistakes are rare , not with all .. did it happen with you !

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659 Trilok Malhotra June 13, 2012 at 8:51 am

Mr. Manish, it happen to me. You may be aware about the working of Public Sector Banks, the people sitting there are unaware of new circulars / guidelines issued, and main thing is they are not serious about their work and want to avoid the work. For example my wife take a loan for applying for a home in DDA when she take the loan her data was entered by Punjab National Bank in CIBIL record, as the she was not successful in the draw, the amount was received back by PNB, they adjusted the amount and closed the account but could not feed the necessary changes in CIBIL record, when she again went to Bank of Baroda for housing loan, they said that as you have not repaid earlier loan of PNB you are not entitled for loan and you are a defaulter in repayment of PNB loan. If CIBIL has no check on it then why they are operating? Suppose any bank made mistake in entering PAN No. against a loan, the person whose PAN No. is entered wrongly should not come to know it, there should be a system where any PAN Card holder can check the status by simply entering his/her PAN No. without paying any fees. The CIBIL charges for getting one’s status report are very much higher and CIBIL takes a lot of time to send status report and its correctness is also not guaranteed .There are so many other instances about CIBIL. Hope you understand the justification of my grievances / negative comments against CIBIL.

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660 Manish Chauhan June 13, 2012 at 8:55 am

Yes .. I can understand your negative comment about CIBIL . I have seen a lot of cases like this in CIBIL . You are liable for compensation if you go to consumer court on this .

Another point is that CIBIL is new in India and this whole concept of credit rating is evolving .. it will take some time and by then these kind of issues are bound to happen and there will be few people who might suffer due to this, you can reach to Bank and consumer court to sort out the matter and demand compensation

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661 Gurpreet Singh Walia June 12, 2012 at 12:51 pm

Hello, Manish,

I have purchased one Consumer loan, i have pay all the money to Bajaj Finance Comany. But till there are some out standing dues are there.

please let me know the actual fate for the same.

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662 Manish Chauhan June 12, 2012 at 7:19 pm

If you have already paid it to Bajaj Finance, then there will be some error from their side in updating the loan details , can you share the exact details ?

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663 Gurpreet Singh Walia June 13, 2012 at 11:41 am

Dear Manish,

Thanks, I have received your mail, I would like to give my loan details as follows:-
My Loan Proposal no:- 51428 date of Purchase September 2007 & and i have paid all my installments to Bajaj Finance Ltd. But Still they are showing Rs. 3080/- is dues on me. I want to know that is these is the same company in which CIBIL has rejected my another loan from any other BANK.

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664 Manish Chauhan June 14, 2012 at 3:54 pm

Gurpreet

You should first ask for the explaination from the company that how is there an outstanding , what are they saying ?

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665 Prashant Kumar June 12, 2012 at 11:00 pm

Hello Friends,

I just wanted to share my experience with the credit history.
In 2004-05, I was holding 5 credit cards of different banks. I used couple of them on high credit and at the same time I was not disciplined enough to pay the outstanding dues on time. I ended up paying a huge money at the end in order to settle the accounts. But that did not make my life easier.

After few years i.e., year 2011, I applied for a personal loan and found that it was rejected on account of bad credit history and low credit score. I tried with 4 private banks and 2 NBFCs as I needed the money desparately but the loan application was rejected everywhere for the same reason. I got my CIBIL report in Aug 2011 and found that my score was 604. It included all the enquiries as well.

I thought it would take ages to reach above 800 and immediately thought of taking a secured credit card i.e., against FD. But before that , I realized I should clear the outstandings reflected in the CIBIL report. I paid a total of 1 lakh to 3 banks for the outstanding and got the accounts closed within 3 months i.e., by Oct 2011. At the same time I got the receipt and the confirmation of the closure of the account from the respective institutions. Then I thought of taking a secured CC but before that I again ordered for CIBIL report in May 2012. I was surprised to see that my score improved drastically i.e., 832 despite the fact that one of the banks did not provide my latest payment data to CIBIL to which I raised a dispute.

My sincere apologies for this vast literature. I just wanted to convey that if the score is low, do not panic, try to clear the outstanding, have the confirmation letter of all such transactions, give yourself sometime and then get the report after 8-9 months. It should not be a surprise if you observe a drastic spike in your score.

Cheers and Good Luck
Prashant

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666 Manish Chauhan June 13, 2012 at 8:44 am

Prashant

Your recent credit behaviour has lot of weightage on calculating your score .. so clearing off all the loans later might have jumped your score .. but my suggestion would be to look at it once again after 6-8 months .. thanks for sharing your case . it shows that credit report and score can be improved by paying off the outstanding and taking responsibility in that area !

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667 Prashant Kumar June 12, 2012 at 11:34 pm

Hello Friends,

I missed to mention few critical information in my earlier post.

I also had 2 personal loans (availed in 2006-2007) worth 1 lakh and 2.5 lakhs and one consumer finance loan . There were no delayed/missed payments on the EMIs on these loans. This discipline might have contributed ( to a certain extent ) to the improvement in the score.

Thanks,
Prashant

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668 Prashant Kumar June 13, 2012 at 12:06 pm

Hi Manish,

Thanks for replying to my Post.

I also appreciate your initiative for this discussion. CIBIL policy and procedures still look amorphous and RBI/responsible regulatory authority need to provide a structure to it in order to ensure better transparency. As of now, it looks like a one sided affair. If the Banks refer the CIBIL data for Loan approval process, then CIBIL should make sure that the data is authentic before sharing it with Banks.An individual cannot check his CIBIL report everytime and raise a dispute on the inappropriate data.I understand there are millions of customers but that does give a reason to CIBIL to be complacent on the reponsibility of providing authentic data. The irony is Banks have number of policies on the data securtiy and theft but when it comes to validating a consumers CIBIL report, they blindly believe the CIBIL data despite the fact that they face a number of dispute cases from CIBIL. Business.

Regards,
Prashant

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669 Manish Chauhan June 14, 2012 at 3:45 pm

Yes thats an issue and we can expect to get it better in coming years …

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670 Senthil June 14, 2012 at 8:12 pm

hihi

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671 loka Reddy June 16, 2012 at 5:37 pm

e improvement will happen only when you pay on time, by 2013 end I can see that your score should improve and go above 750 if you dont make any other mistake

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672 SYEDFAROQ June 20, 2012 at 11:49 pm

HI MANISH,

ITS REALLY NICE READING YOUR ARTICLE, I UPDATED MY KNOWLEDGE TOO THE EXTENT. I WORK FOR SBI CARDS AND MANY CUSTOMERS ASK ABOUT THIS CIBIL RELATED QUERIES TO ME. THESE ARTICLES REALLY HELPED ME.

I WANT TO KNOW THE PROCESS IN BETWEEN BANKS AND CIBIL. IF CUSTOMER APPLY FOR LOAN OR CARD WHICH ALL INFORMATION WERE BEEN SHARED BETWEEN BANK & CIBIL WITHIN HOW MUCH TIME THIS DECISION WILL BE UNDERTAKEN.

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673 Manish Chauhan June 21, 2012 at 2:36 pm

When a person applies for any loan , banks ask for his report from CIBIL and CIBIL shares his score nad report . Based on the score and report , banks decide if they want to move ahead or not .

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674 ajay panwar June 24, 2012 at 10:47 am

hello, I am ajay pawar , actually i have applied for a loan from citi bank . and then the bank check the cibil report . so someone has taken loan from my name of RS 461268 + interest = 505341 . i want the cibil report becoz it makes our track record bad. and i want the person’s name and pen card numder who has make us fool. i want all the papers of the report . and i also want the bank report of that person.
i want the immediate reply.

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675 Manish Chauhan June 24, 2012 at 4:13 pm

Ajay

First check your cibil report , you should apply it online , see this : http://www.jagoinvestor.com/2011/12/get-cibil-score-online.html . You might not get the real person name and address , because its a fraud .

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676 Kranthi June 26, 2012 at 10:29 pm

Hi Manish,

My CIBIL Score is 610, In the month of January I settled my CITI Bank credit card and last month I settled one more HSBC card due to my financial problems. In previous i have one personal loan, that is completed in January 2011 and I paid regularly without any late or due, from last 1 yr I am taking loans form BAJAJ finserv for consumer durables. I am paying regularly without any delay and due. In few months I will close all my loans.

Is there any chances that I can get loans in future. Please give me suggestion or your opinion. Thanks in Advance.

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677 Manish Chauhan June 27, 2012 at 9:39 am

There are two things . Score and Report .

If you keep on paying your dues on time and regularly , your score will go up and it might get better beyond 700+ . BUt the problem is SETTLED Remark on your report . That will really not allow you to get a loan , all the banks will hesitate and reject your application . Its very simple logic . If you are a bank , why will you give a loan to some one who was not able to pay off his loan in complete and went for settlement , He is a risky person , there are chances he will replicate the whole episode again .

Think from bank point of view .

Unless you get rid of those settlements , it will really become impossible for you to get a loan .

Manish

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678 Bittu June 28, 2012 at 7:58 pm

Hi Manish,

I have not paid the outstanding for almost 5 of my Credit Cards due to some personal problem, I have requested for a Cibil Report and came to know that I have a score of 520 :-( I know this is quite bad, Now I want to increase my credit score and I am ready to make the desired payments to all the banks, problem is I have already made a settlement with HDFC bank and now I have no idea that should I make the complete outstanding amount to all the banks or should I do the settlement, If I need to pay the full amount then what will happen for the HDFC settlement ? will it be negative in my report for life time ?

Manish Please suggest me the way out as now im in trouble as I need a home loan and no bank will give me that, I am ready to pay the complete amount but I want to know how fast it will improve my credit score.

Thanks
Regards,
Bittu

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679 Manish Chauhan June 28, 2012 at 8:06 pm

You are really in bad situation . NOte that if you do not do anything about this situation , you can expect to have that “SETTLED” remark on your CIBIL report for 7-20 yrs ,you never know !

Settlement of loan (paying less than the outstanding) is as bad as not paying at all , its reported in CIBIL . You shoudl accept that you will not get a loan for atleast next 2 yrs . First you need to clear all the outstanding (contact bank) and then work on your repayment (like credit card or some existing loan) to build your credit history .

Check the progress of your score every 6 months . and please be more responsible . We have a section called as “Mistakes you do today which affects your future” , this credit behaviour is one of the things we talk there !

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680 Bittu June 28, 2012 at 9:28 pm

Thanks for reply Manish,

I am now confirmed that I will have to pay the complete 100% outstanding amount with is approx 2.96 Lac, and unfortunately I have to pay it off.

Information provided by you is very helpful.
Thanks again

Regards,
Bittu

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681 Manish Chauhan June 30, 2012 at 11:24 am

Thanks

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682 ajay chaudhary July 6, 2012 at 5:40 pm

hallo there.
I have been planing for car loan since last 1 week.
now when i have completed all documentation work and go to Bank Manger for final Verification for documents , Bank manager make a final review and verify my details from CIBIL ,when report come i was totally shocked by observing what was in the Report.
There were 220000 Due on me and was granted in late 2006 .
I have never ever applied for any kind of Loan.However Bank manager was unable to provide any further details like Name Of Bank who Granted me Loan, etc.

Help me and Guide me what should i do as many of here might have faced such a problem……Thank You

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683 Manish Chauhan July 6, 2012 at 6:46 pm

Ajay

Seems like there is some wrong data in your CIBIL report , or may be in reality some fraud has happened on your name, You should first apply for your CIBIL report and check the details from there, come back again once you get your report !

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684 ajay chaudhary July 7, 2012 at 8:05 am

Thankz Manish.
ok 1st i am going to pull my CIBIL report and then will return to you.

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685 Manish Chauhan July 7, 2012 at 8:21 am

OK sure !

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686 ajay chaudhary July 9, 2012 at 7:07 pm

hey friend i just pulled out my CIBIL report actually there was some mistake in the report generated then i contact to bank and again verify all the details , then we find out that the account was added in my report wrongly .
i just complete all the necessary steps and now my report comes clean.

Thankz for your support bro…….

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687 Manish Chauhan July 10, 2012 at 7:45 pm

Good to hear that Ajay !

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688 Ritesh Kumar July 9, 2012 at 10:45 am

Hi Manish,
My CIBIL Score is 534 which I know is bad. I am not defaulter of any bank but settled the amount with some banks.Currently there is no outstanding of any Bank. Currently from last 2 and half years I had not applied for loan in any bank and also have no requirement but wanted to improve my CIBIL so I shall become eligible to get Housing loan in future. Hows it possible?

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689 Manish Chauhan July 9, 2012 at 7:03 pm

Ritesh

You are living in myth that settlement is not same as being defaulter. When you do settlement , still you are defaulter , just for a partial amount in that case, but you are a DEFAULTER , dont you think so ? think from common sense point of view . If you are a bank , i take your 1 lac and I am not able to pay you back fully , but just 30k , what am I then ?

Settlements are reported to CIBIL and the status is SETTLED, you need to first clear it off , and opt for a credit card (secured against a FD or Rs 20,000) and start using it and pay the dues each month, this is the only way you can increase your score ! over next 1 yr

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690 syed shabaiz pasha July 9, 2012 at 11:24 pm

Hello

I wanted assistance, when ever i apply for a credit card my application gets rejected, i dont event know what is the reason, nor i had a credit card nor i had taken any loan. only once i had bought a post paid connection due to more charges i dint pay my phone bill will that be any reason to get my CC applications rejected.

Thanks

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691 Manish Chauhan July 10, 2012 at 7:37 pm

It might happen that your name is in CIBIL and some one might have taken a loan on your name using your documents , this happens ! . Check your CIBIL report first, see if it exists !

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692 gurcharn singh July 10, 2012 at 4:55 pm

I am confused for my cibil status please guide me How can i remove my bad record

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693 Manish Chauhan July 10, 2012 at 7:09 pm
694 joe July 13, 2012 at 12:01 pm

then manish tell me how did I get my home loan 2yrs back…since its 2006 is there a time frame that it goes out of cibil… I did get my loan 2yrs back… good amount… how sir ?

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695 malay guha July 14, 2012 at 2:29 am

Hi manish
I am applying for a job in a private bank in india but i am a credit card defaulter.can they check my credit history before offering me the job.
Pls reply

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696 Manish Chauhan July 14, 2012 at 4:00 pm

No , credit report is not seen for job purpose

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697 Manish July 14, 2012 at 12:33 pm

The main culprits behind the credit card issues are sales man, whose only purpose is to attain the targets & once they found a some fat prey to stick their policy/cradit card shit with, they can do ant thing & convince with wrong & fake informations/commitments/offers which doesn’t exist at all, & as victims (unfortunate customers) who got into the traps of fake words of card/insurance policy sales men, they can not help out with their future, as actually their was no need of these, but, these instruments were sticked to them, in future, they gets frustrated with the unfair billing, even if the penny remains, it grows to thousands & the victims has to suffer mental stress & experience blocks in the path of their future establishment. The ways these credit card & policies are sold, is a not less than any severe crime, the companies/institutions who are generating these kind of jobs must be sued for their way of working & setting business, as they are looting it by indirect cheating.

The one who really need policy/credit card they will go to the institution of their linking, how these guys are draining brains through these fraud activities by divert the decision of customers. They may advertise online offline by banners or advertisement on any broadcast, but, not by catching peoples outside their company premises & market or public places or frustrating telephone ad calls o spam/bulk messages on cell phones, isn’t it ridiculous?

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698 Manish Chauhan July 14, 2012 at 3:45 pm

Yes Manish

Agree that lot of selling is happening just to meet the targets , but as of now there is no alternatives of being responsible investor and taking caution

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699 rajeev bhardwaj July 15, 2012 at 3:24 pm

dear CIBIL ,

PLEASE CONFIRM MY CIBIL SCORE,, MY PAN CARD NO. CBMPS3615L

DO THE NEED THIS

REGARDS
RAJEEV BHARWAJ

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700 Manish Chauhan July 17, 2012 at 10:56 am

You need to do it on cibil website and you need to pay fees for that !

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701 Mubarak July 17, 2012 at 8:28 am

HI My credit score is 782 I need to know whether its a good score or bad score Kindly reply

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702 Manish Chauhan July 17, 2012 at 9:36 am

Its a good score !

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703 Mubarak July 17, 2012 at 10:46 am

actually i applied for Private bank Credit card got response like due to cibil report we rejecting your application. Why ?

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704 Manish Chauhan July 17, 2012 at 11:45 am

Did you not pay your dues in some previous loan or had a bad payment record ? Apply for your report first and have a look at it !

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705 Satyanarayana July 17, 2012 at 9:20 pm

Hello, Recently I have taken a loan from a Govt Bank. During my loan process, Bank ppl have told me that in my CIBIL report there is 1 Lakh due. I haven’t taken any loan before and I don’t have credit cards also. In the CIBIL report apart from due amount and date nothing much mentioned. How can I trace out this. Can some one help me on this.

Thanks
Satya.

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706 Manish Chauhan July 17, 2012 at 9:51 pm

It must be mentioned that which bank loan is it , check your report yourself , the one which bank gave is seperate . I guess there is somekind of fraud done on your name

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707 Vandhana Karthick July 22, 2012 at 1:07 pm

I have known the information very late and at least now due to your article..Thanks for writing informative..

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708 Manish Chauhan July 22, 2012 at 6:46 pm

Welcome :) . Spread the knowledge

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709 Vandhana Karthick July 22, 2012 at 1:21 pm

Manisji..I have one doubt missing to file the IT in on-time goes to CIBIL or what?Does it affects the score??If I am not paying IT at all then what will happen??

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710 Manish Chauhan July 22, 2012 at 6:45 pm

Its not reported to CIBIL

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711 Ramesh Pujari July 23, 2012 at 5:31 pm

Hi,
Please advice me how much time require to remove the name from CIBIL

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712 Ramesh Pujari July 23, 2012 at 5:39 pm

Hi,
Please advice me how much time require to remove the name from CIBIL and what is the procedure to get Cibil Report

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713 Manish Chauhan July 25, 2012 at 6:30 am
714 krishna July 25, 2012 at 2:57 pm

Hi Manish,

i have checked my CIBIL Score & it is 750 now. i had 4 Credit cards & 2 loans. i was paying well for almost 2 years. however, due to some issues, i had to resign from my Job & got the payments delayed. though after 1 year i have paid almost 70 % of each CC or Loan. still my CIBIL score has all that information. i need to know, when it will be removed from my cibil history. also, is my score good to get any loan or credit card.
awaiting your soonest response.

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715 Manish Chauhan July 26, 2012 at 10:21 pm

Contact your bank ,they have not updated cibil about your payments ! , your score is ok , but the report must also be clean , which is not !

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716 krishna July 27, 2012 at 11:05 am

Thanks Manish for Reply.

as i have settled my 3 CC as well as 1 loan. this information is showing as settled. shall it be removed from CIBIL. if not then how much time it takes to be removed. i have heard that it takes 7 years. also i am planning to take educational loan. will this score help.

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717 Manish Chauhan July 28, 2012 at 8:29 pm

that 7 yrs is the MINIMUM time, it can take upto 10-20 yrs also . Better clear that loan and only then it will be removed !

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718 SRINIVAS July 28, 2012 at 11:44 pm

Dear manish,

i have 2 credit card i am cleared total outstanding every month , i have another two wheeler loan for that first month Ecs has got bounced because my due date is on 5th , i deposited amt on 5th that the reason ecs got bounced,but my savings account there is no bounce reason, but loan statement it is showing as due to insufficent funds Ecs got bounced , should i pay the bounces charges to hdfc bank , for that my cbil score will effect .., please suggest what i have to do.

Regards
Srinivas

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719 Manish Chauhan July 31, 2012 at 5:49 pm

Better pay whatever bank is asking for and clear the issue , dont deposit the cheque or money on last date !

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720 c uma maheshwar July 31, 2012 at 9:25 pm

hi manish,
This is mahesh. i had not taken any loan till now and from last 5 months am using credit cards. my payments of my creditcards is clear and having no dues.

Recently i ahve applied for personal laon and it got rejected due to my cibil score.
am unable to understand, pls help me

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721 Manish Chauhan August 2, 2012 at 12:04 pm

Uma

May be your score is still low because its just 5 months as of now of your history , kindly apply for it and have a look and come back !

Reply

722 Sonu August 7, 2012 at 9:51 pm

Hi Manish,
In my CIBIL report it is showing one credit card overdue around 130000 and then write-off (Year 2008) for the same amount and two personal loan, One is showing overdue 10000 and balance 0 ( Year 2009) another one is overdue 23000 and in comments it is showing settled.

And currently one consumer loan is of 10000 which is regular. One more credit card overdue balance is showing 32000 from 2007.

Please let me know after clearing 32000 of credit card my CIBIL score will get improved and can i apply for home loan if no then what i need to do to improve my score in CIBIL. And what is the impact of Write-off on CIBIL report.

Thanks

Reply

723 Manish Chauhan August 8, 2012 at 7:16 pm

The impact of write off on cibil is that not lender will give you loan when they see it . You need to contact your credit card and loan companies to find out what is the outstanding amount you need to pay to clear those loans fully ! , this will improve your score!

Reply

724 Sonu August 12, 2012 at 1:17 pm

Hi Manish,
Regarding Write off credit card i did,t made an purchasing from that card at all because at the time for applying credit card they told it is free and after one month without any purchasing they send statement with 200 rs balance after that i didn’t use it at all, And bank had made balance for that around 130000. latter on they stop sending statements for that and no any discussion for the write-off also. Now how their write-off can impact my CIBIL score.

Can i go to the consumer court regarding this case i.e. spoiling my CIBIL score.

Reply

725 Manish Chauhan August 14, 2012 at 5:30 pm

I dont think so , the person who sold it to you might have said False , it must have fees, which grew bigger because you never paid it

Reply

726 Sonu August 16, 2012 at 10:56 am

Manish,
Please reply can i go to the consumer court regarding this case i.e for spoling my CIBIL score.

Reply

727 Manish Chauhan August 17, 2012 at 1:44 pm

Sonu

Yes , if your case is strong, you can go there, but its not CIBIL , its the bank which has messed up , CIBIL is just there to give you that report !

Reply

728 srinivas August 8, 2012 at 9:16 pm

hi manish,

i have already 2 credit cards , i applied for another credit card from kotak , but card is not approved while i checked in online line i got the below msg.

(We were unable to verify/ contact you at the residence address as provided by you in the application.
We regret to inform that your application has not been approved. Please note that this is no way a reflection of your credit worthiness.)

but actually executive has contact me on phone and taken complete address of residence , even though that exe. has not came to my house, after 2 days i checked in online application status , i find the above msg.

if this is also update in CIBIL ,for this any impact in my credit score , please revert me

Reply

729 Manish Chauhan August 10, 2012 at 6:39 pm

Srinivas

This will not have impact on your credit score , but if it gets misused , then it will have , better look into matter and ask the credit card company to block your card untill you get it

Reply

730 rajesh August 9, 2012 at 4:03 pm

Hi Manish,
I appliled for SCORE online but after making payemnt my browser got stuck and after 7-8 minutes, “Page error: was displayed.
I also called the customer care (card payment), they confirmed that payment was successful and now it is reflected in card statement.
However a dialog box appear with CIBIL registration no. which i have noted.

I have received a sms to send payment confirmation form and address to cibil, but payment confirmation form was not displayed.

I called CIBIL customer care many time and after pressing “1″ (for CIBIL score) no one pick it and disconnect after 5-6 minutes.
Kindly assist me.

Reply

731 Manish Chauhan August 10, 2012 at 6:12 pm

Rajesh

Dont panic .. try to contact them again and tell them about the successful payment . In worst case you will have to send the documents to them and this will become offline procedure now !

Reply

732 Kumar Sethuraman August 9, 2012 at 6:02 pm

Dear Manish,
My CIBIL score is 762 as of 21st March 2012. I have settled SCB Credit card around June 2008 with NIL balance but it has been stated as “SETTLED” in the “WRITTEN OFF STATUS” And also I have cleared my PL from ICICI bank and noticed that the nothing was mentioned in the “WRITTEN OFF STATUS”. I have been trying avail Personal Loan and Home Loan for the past few months but got rejected. FYI: My take home salary is in 6 digits. Please clarify my following doubts.
1. In case if I approach SCB and clear the balance amount if any, would it help me in future?
2. Will I get any loans in the future as my credit score more than 750?

Thank you
Kumar Sethuraman

Reply

733 Kumar Sethuraman August 9, 2012 at 6:22 pm

Dear Manish,
One more doubt I need to add to my list.

3. I have got my “CIBIL CONSUMER CREDIT INFORMATION REPORT” by paying 450Rs online. My question is that even the bank will get the same CIBIL Report as the report which I got from CIBIL r they will get a different version of report.?

Thank you
Kumar Sethuraman

Reply

734 Manish Chauhan August 10, 2012 at 6:02 pm

Kumar

Generally settlement means “paying less than the outstanding” and closing the matter. If you have done that earliar, then

1. Yes, if you pay off your outstanding amount, your score and report will improve in future
2. Yes , if you can increase your score to 750 and clean your report also , you will get the loan in future!
3. Bank will also get same kind of report, but may be in different format , as banks are direct clients of CIBIL

Reply

735 Kumar Sethuraman August 10, 2012 at 6:05 pm

Dear Manish,
FYI: My is already more than 750 that is 762.
Please clarify my following doubt too

I have got my “CIBIL CONSUMER CREDIT INFORMATION REPORT” by paying 450Rs online. My question is that even the bank will get the same CIBIL Report as the report which I got from CIBIL r they will get a different version of report.?

Thank you
Kumar Sethuraman

Reply

736 Manish Chauhan August 10, 2012 at 6:08 pm

I cant confirm that, but they should be getting same kind of report !

Reply

737 Kumar Sethuraman August 10, 2012 at 6:10 pm

Dear Manish,
Thank you very much for information. You are doing a wonderful job, please keep it up.

Thanks Again.

Kumar Sethuraman

Reply

738 suman August 10, 2012 at 1:06 pm

Dear Manish

I have gone through my CIBIL report recently. it is showing one of my personal loan which i repaid in full in 2011 and my credit card but not showing my education loan which is outstanding for 4 years. Now the bank is follows up for repayment of education loan. My question is that

1) If i settle my education loan which i taken for my studies in year 2004 from UBI will they inform CIBIL and effect my score?

Reply

739 Manish Chauhan August 10, 2012 at 5:36 pm

Suman

All your loans and credit cards should be reported to CIBIL, if it has not happened , its a fault from bank side. They should do it ! . So yes if you settle your education loan, it might happen that bank updates it on cibil side , which will affect your score !

Reply

740 subhash warde August 12, 2012 at 3:16 pm

Hi Manish,
Regarding Write off personal loan.
i want to do loan settlement. my loan a/c no. is 16110870 i paid all the EMI’s of auto , personal loans which i had ever taken of all the accounts on time but i paid to all loan amount directly close. They should do it ! . So yes if you settle my personal loan, it might happen. pls replay to my email id (subhashwarde@yahoo.com) & pls contact this no-9757018548

Regards
Subhash

Reply

741 Manish Chauhan August 14, 2012 at 5:29 pm

Your question is not clear to me ? Do you want to pay less amount than outstanding ?

Reply

742 Pushpinder August 17, 2012 at 4:50 pm

Hi Manish,

I had a citibank credit card in 2006. Till 2008 i used to pay all my bills on time. Due to some difficult situations, i could not pay the bills in 2008-2009. The principal amount was around 22k and the total outstanding (including late fees & interest) was around 40k.

In 2010 i paid 20k to the bank as a settlement.

Assuming my rating would have been good by then, I applied for credit cards but never got one.

A few weeks back Citibank called me up and told be there was still some dues left.

I opted for full settlement and paid around 7k to setlle all dues.

Now they have told me that:

We would like to confirm that there is “ Nil Outstanding” on your card as on date. Further, we have arranged to update your credit record pertaining to the card with the Credit Information Bureau (India) Limited (CIBIL) to reflect as “null” with nil outstanding. We wish to inform you that records are updated with CIBIL on a monthly basis. However, we have requested them to update your record on priority. We shall keep you informed on receipt of a confirmation from them.”

What does this mean?

Will my rating be better now?

Reply

743 Manish Chauhan August 20, 2012 at 11:21 am

Yes, now your balance is NIL with them and it should get better in coming months , but note that SETTLEMENT done by you for 20k when your outstanding was actually 40k was a negative act and was hampering your score . I am surprised that later how come they only asked for 7k !

Manish

Reply

744 Anand August 21, 2012 at 11:16 pm

Dear Manish,

My CIBIL score is 743, I am planning for home loan…I had loans which got delayed due to my economical position those time…but now those loans are paid (actually i foreclosed it….though it was delayed within tenor)

I am really worried that those delays will make any issue in getting home loan?

Reply

745 Manish Chauhan August 22, 2012 at 6:49 pm

Anand

743 is a acceptable score, but higher the score , higher the chances , so you can never say .. Also if you had delayed a lot of payments, that would be reflected in your report and might be looked as a negative factor .

Reply

746 faridabad convent school August 24, 2012 at 2:20 pm

faridabad convent school has taken demand loan from canara bank ballagarh-121004 in the year 2001 and full & final payment was made in the year 2005 bu still cibil stands and faridabad convent school does not apply another loan due to cibil . pleas help us and give mobile number of cibil

Reply

747 Manish Chauhan August 26, 2012 at 12:25 pm

In that case contact CIBIL , you can get their email address from their website and also phone number

Reply

748 Rahul August 24, 2012 at 5:00 pm

Hi Manish,

I recently recvd the cbil report, the credit score reflected was 795, however, I have made settlement for 2 credit cards, Barclays and Icici. For Barclays it shows WRITTEN-OFF STATUS POST (WO) SETTLED
WRITTEN-OFF AMOUNT (TOTAL) 29,518
WRITTEN-OFF AMOUNT (PRINCIPAL) 8,947
SETTLEMENT AMOUNT 10,350

For ICICI it shows:

WRITTEN-OFF STATUS – SETTLED
WRITTEN-OFF AMOUNT (TOTAL) –
WRITTEN-OFF AMOUNT (PRINCIPAL) -
SETTLEMENT AMOUNT -

I dont know what does it mean

Also, under employment section it shows income 12000 that not correct its 29000 how can I update the same

Regards,
Rahul

Reply

749 Manish Chauhan August 26, 2012 at 12:20 pm

Rahul

You have done settlement of credit cards, right ! .. so that what is mentioned in that . the rest money which you didnt pay was written off by them , which they could not recover from you .

The data which is there is actually the data with Bank . So they have your old income figures !

Reply

750 rahul August 27, 2012 at 5:48 pm

Thanks Manish.

Just want to confirm do I need to contact bank in order to update the information regarding updated income

Reply

751 Manish Chauhan August 28, 2012 at 10:16 pm

You can tell CIBIL about it and they will contact the Bank , bank will confirm it with them, update your data next time to CIBIL . So either you contact bank, or to cibil

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752 anant August 28, 2012 at 1:00 pm

Hi Manish,

Is there are any time frame to update the CBILL data.

Means if any loan taken from bank, then what is the time frame required to upload these data into CBILL??

Anant

Reply

753 Manish Chauhan August 28, 2012 at 9:37 pm

Its each month, but to be safe , better take it as 45-60 days !

Reply

754 Bhargav August 28, 2012 at 5:57 pm

Hi Manish,

i have few questions…. as whenever i am applying for any credit card its getting rejected and banks are not replying with reason except citi and ICICI bank told as its due to cibil………in 2011 i had taken personal loan of 1.5 lakhs from HDFC and in 2012 i took other personal loan of less than lakh from hdfc so 2 parallel loan are running in hdfc….of 1st loan i missed 1 emi in DEC 2011 and of 2nd loan i took on feb 2012 due to miss communication i missed 1st emi i.e. of feb month only……rest of all emi are paid reguraly apart from this 2….i want credit card but every bank rejected it…..i already applied for cibil report ……above what range is cibil score can be said good ?? further what should i do ?? how can i improve and how much time it will take to make score strong ? its a very really nice article after reading article i applied for score……..thanks a lot for being mentor for all of us !! very nice move taken by you….really appreciated…!!! really you are spreading awareness !!! thnks again !!!

Reply

755 Manish Chauhan August 28, 2012 at 8:32 pm

Bhargav

I guess your score is low, note that you have two unsecured loans and unsecured loans are not taken in a very positive way.. 2 personal loans in parallel shows your over dependence on credit and if you apply for more personal loan or credit card, it will ideally be rejected. First you need to complete those personal loans and only then I guess you will be given other kind of loans , you should have atleast 800+ to get a loan in your case.

Reply

756 addepalli suresh August 29, 2012 at 1:10 am

hi manish,
3 yrs back closed all my cc’s and personal loans,Present my cibil score is 619,at present i dont have any credit cards and loans,as i setteled 2 credit cards 2 years back,how can i improve my credit score.
Am i elgible for credit card or any loan now.

Reply

757 Manish Chauhan August 29, 2012 at 8:18 am

You will have to first pay off the balance amount or the current amount and only then things will improve !

Reply

758 A suresh August 29, 2012 at 1:30 am

hi manish ,
my CBIL score 619 . and CBIL report shows :-
two of credit card’s status – settled
overdue – 0
current balance – 0
i paid all the EMI’s of aut0 , personal loans which i had ever taken of all the accounts on time . but in only 2 accounts of credit cards of namely HDFC and ABNAMRO banks are settled two years back and my CBIL report shows the same,other cards and loans are paid in time. At present i dont have any credit cards and loans.
please help me , how should I increase my CIBIL score . present i want personal loan or credit card, is it possible . how can i increase my score will u please suggest me or instead of this , please suggest me some procedure to solve my problem . so that i get cc’s and loans easily .
thank you .

Reply

759 Manish Chauhan August 29, 2012 at 8:17 am

Suresh

You will have to first accept that there is no immediate solution to this, and you will have to wait few months for sure. The settled credit cards will obviously go to CIBIL , because its not the end solution, When you pay any thing less than the outstanding , the matter is closed for that time , but the incident is reported to CIBIL and other credit beureau . You will have to pay off those amounts which you didnt pay and only then things will improve. You should make an FD, get a secured credit card and use it for months to improve your score. This will take longer than you can imagine. May be the whole thing will take 1 yr.

Reply

760 R Srinivas August 29, 2012 at 11:51 am

Hello Manish

Good information that you are sharing with everybody.

I have taken the CIR Report online and see that I have some settlements which were done 2-3 years back. I have all the letters provided by the Banks. They were around 5 Credit Cards and 1 PL. Due to some issues, I could not pay on time. But I have cleared all of them and have been provided with Settlement letters and in some has been mentioned that it will be updated in CIBIL report in 45-60 days. But it has already past 1 year and nothing has happened. Now if I apply for a loan it is getting rejected.

Could you please guide me how I can get my name cleared in CIBIL. I have been maintaining my bank accounts very well and my 2-wheeler loans as well. I assume that the score need for a Loan is above 750. Is that Correct.

Also can I contact Bank Ombudsman. Will they be able to clear my Name ?

Thanks !

Reply

761 R Srinivas August 29, 2012 at 11:52 am

Hello Manish,

Good information that you are sharing with everybody.

I have taken the CIR Report online and see that I have some settlements which were done 2-3 years back. I have all the letters provided by the Banks. They were around 5 Credit Cards and 1 PL. Due to some issues, I could not pay on time. But I have cleared all of them and have been provided with Settlement letters and in some has been mentioned that it will be updated in CIBIL report in 45-60 days. But it has already past 1 year and nothing has happened. Now if I apply for a loan it is getting rejected.

Could you please guide me how I can get my name cleared in CIBIL. I have been maintaining my bank accounts very well and my 2-wheeler loans as well. I assume that the score need for a Loan is above 750. Is that Correct.

Also can I contact Bank Ombudsman. Will they be able to clear my Name ?

Thanks !

Reply

762 Manish Chauhan August 31, 2012 at 1:25 pm

I am not clear , did you make settlement (paying less than outstanding) , or you completed the loan by paying 100% dues . If you have SETTLED the loan (paying less than outstanding) , then it wll be reported to CIBIL and only option here is to pay it off completely.

You should have around 750 score atleast. Most of the banks look for more than 750 .

Reply

763 Jai Prakash Kushwaha August 29, 2012 at 12:42 pm

I have close my account since 2007 but my account is stand right now

Reply

764 Manish Chauhan August 31, 2012 at 1:21 pm

What exactly is your case ?

Reply

765 pons August 30, 2012 at 12:34 am

Dear Manish,
After applying CIBIL report,i got reply from cibil.Below i paste the reply.pls explain this.

In this regard, we would like to inform you that we have processed your CIBIL Report request. However, we regret our inability to generate a score on your report due to the following reasons:

. Account information not available
. Your report has only enquires and account information not available
. The last date reported or date closed in your report is older than 24 months for all accounts
. Consumer is an ‘Authorized’ user for all the accounts in the report

In view of the same, we have processed refund of Rs 316/- (Cost of CIBIL TransUnion Score) on

Reply

766 Manish Chauhan August 31, 2012 at 10:59 am

Seems like you have not taken any loan on your name . All you have are add-on cards !

Reply

767 Bhargav August 30, 2012 at 6:32 pm

Hi manish,

As i mention you about my problem on post no 746 i got my cibil score and it is 779, so is it low score and due to this my credit card application are getting rejected, and in score sheet i am not able to see what is my exact status as it is showing under status tab various status like,

COLLATERAL:
VALUE OF COLLATERAL – SUIT FILED / WILFUL DEFAULT -
TYPE OF COLLATERAL – WRITTEN-OFF STATUS -

STATUS:
SUIT FILED / WILFUL DEFAULT
WRITTEN-OFF AMOUNT (TOTAL) -
WRITTEN-OFF AMOUNT (PRINCIPAL) -
WRITTEN-OFF AMOUNT (PRINCIPAL)
SETTLEMENT AMOUNT -

A kind request to you, just let me make understand what exactly my status is ?? further what should i do to get the eligibility of getting the credit card ??

Reply

768 Manish Chauhan August 31, 2012 at 9:52 am

Your score is ok , not very bad . Above 750 is good actually. But the problem can be your report . Under your Accounts section , is there any loan which is SETTLED or WRITTEN OFF. Or in last 1-2 yrs , you have defaulted/late on many credit card or loan repayment ?

Manish

Reply

769 A suresh August 31, 2012 at 9:41 am

HIGH CREDIT 34,892
CURRENT BALANCE o
STATUS
VALUE OF COLLATERAL -
SUIT FILED / WILFUL DEFAULT -
TYPE OF COLLATERAL –
WRITTEN-OFF STATUS – POST (WO) SETTLED
WRITTEN-OFF AMOUNT (TOTAL) -
WRITTEN-OFF AMOUNT (PRINCIPAL) -
SETTLEMENT AMOUNT -
As i cleared the total outstanding amount without settlement and closed the account , written off status is displayed as POST (WO) SETTLED,what is meant by POST (WO) SETTLED,is this positive or negative for my cibil report.

Reply

770 Manish Chauhan August 31, 2012 at 9:46 am

Is it showing for a particular loan or is it just a info note ?

Reply

771 Bhargav August 31, 2012 at 7:43 pm

Hi manish,

I dont have any credit card and moreover as i mention above in my post i missed only 2 emi of my loan i.e. 1st emi in December 2011 against the loan i had taken in mar 2011 and 2nd emi in feb 2012 against the loan i took in feb 2012 infact 1st emi of 2nd loan so both emi are of different loans. There is no such status as setteled or written off in my account info related to my loans.i am stuck and dont know wh
at to do ??

Reply

772 Manish Chauhan September 2, 2012 at 11:17 pm

Just 2 misses should not affect your overall credit report much .

Reply

773 Bhargav September 3, 2012 at 10:38 am

So what can be the reason as the banks are also denying to give cards and not giving any specific reason ? is there any other way to get card ?

Reply

774 Manish Chauhan September 5, 2012 at 9:31 pm

then you should get a secured credit card against a FD

Reply

775 Manish Chauhan September 2, 2012 at 11:18 pm

You better try it on your own. dont ask customer care. if it works, good , else there might be something which will not let it work .

Reply

776 goutam prasad kar September 1, 2012 at 12:01 pm

sir,how i did know my cibil score andhow clear my cibil report

Reply

777 Manish Chauhan September 2, 2012 at 8:57 pm
778 Jayashankar September 1, 2012 at 11:48 pm

Sir,
I have apply many bank CREDIT Card, but every bank reject my application,then apply online my CBIL Score,but as till today i have not taken any credit card or loan there is no CBIL score in my name as below which is send by CBIL,I have good salary as well working in listed company as a Civil Engineer.How can i got a credit Card in mumbai

Dear Sir,

We refer to your request to purchase your CIBIL TransUnion Score Report (Including CIR)

In this regard, we would like to inform you that we have processed your CIBIL Report request. However, we regret our inability to generate a score on your report due to the following reasons:

. Account information not available
. Your report has only enquires and account information not available
. The last date reported or date closed in your report is older than 24 months for all accounts
. Consumer is an ‘Authorized’ user for all the accounts in the report

In view of the same, we have processed refund of Rs 316/- (Cost of CIBIL TransUnion Score) on 30/08/2012 via Online Payment mode.

Your CIBIL Report is processed and will be despatched on 31/08/2012.

Thanking and assuring you of our best services.

Best Regards,

Consumer Relations.

Note: Please add ‘info@cibil.com’ to your contact list to prevent future mails from going into Spam / Junk folder.

Reply

779 Manish Chauhan September 2, 2012 at 8:20 pm

Yes, you dont seem to have any report, how much is your income right now ? Get a secured credit card against a fixed deposit

Reply

780 Jayashankar September 2, 2012 at 11:22 pm

Sir,
Without fixed deposit what is the process to get credit card

Reply

781 Manish Chauhan September 2, 2012 at 11:23 pm

I dont think any bank will be ready to give you a unsecured credit card, means without any security .

Reply

782 MANU VIKRAM SINGH September 3, 2012 at 9:55 pm

Manish,

Recently I had applied for a Citibank CC but was rejected on grounds of POOR CIBIL score. The CC was for my personal use, and it was my first ever credit card application with any company. Although, I do have a Corporate CC, which I use when I travel on business purposes.
However, on enquiry I came to know that my CIBIL score is poor and the person told me that it is because of my corporate credit card.

My question here is that since thousands of people working in an organization may have the corporate credit card provided to them by their organization, so how can one keep track if their corporate credit card is bringing their financial score down.? And how can one justify to CIBIL the same so that their personal scores are healthy.

Thanks
Manu

Reply

783 Manish Chauhan September 5, 2012 at 8:47 pm

What do you mean by Corporate credit card ? Is the bills paid by Company or is the expenses are for company purpose ? I suspect that its a normal credit card , just you took it while you were in the company .thats all .

Reply

784 MANU VIKRAM SINGH September 5, 2012 at 10:57 pm

Yes, the bills are paid by the company. I use it to pay for expenses while I travel abroad for company purposes.

However, it is the responsibility of the company to pay back the bank. Still somehow, it has affected my personal CIBIL score.

Reply

785 Manish Chauhan September 8, 2012 at 10:33 pm

But is the credit card on your name or company , if its on your name , then officially its your credit card. No matter who pays it

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786 priya September 3, 2012 at 11:29 pm

hi manish,
i applied personal loan and it was rejected last month.i am using 2 credit cards and right now there is nill due,but in the past due to family probs i used to pay the minimum due only but later i paid completely.now i need to know about my cibil score any idea about my cibel score(manish can u pls guess my cibel score)….

thanks,
priya

Reply

787 Manish Chauhan September 5, 2012 at 8:44 pm

It would not be possible to predict the score . Better you apply for it , mostly due to your past behaviour , you loan was rejected

Reply

788 Raamanathan Paul September 4, 2012 at 4:44 pm

Hi,

I have a Written off status in my CIBIL. If i do the full paymet, how long will it take for the CIBIL to update the status? Can you please clarify?

Thank You
Raam Paul

Reply

789 Manish Chauhan September 5, 2012 at 8:32 pm

In 45-60 days

Reply

790 Raamanathan Paul September 5, 2012 at 11:47 pm

Hi Manis,

I had 2 credit cards with citibank & HSBC. 1 year before i got it settled negotiating with the Bank. After a year, recently when i opted for a credit report, i see the HSBC CC status is alone as Settled. Can i talk to the HSBC Bank to get the Settled status in the CIBIL cleared, as citibank did it for me? Is it possible?

Thanks
Raam Paul

Reply

791 Manish Chauhan September 8, 2012 at 10:32 pm

You settled it right ? Hence the update status will be settled only. If you have not paid the FULL amount , then it will be SETTLED only .

Reply

792 Rahul Sharma September 5, 2012 at 4:26 pm

Dear Manish,

My CIBIL score is 739 .Is it bad to get loan in future.What can i do to improve it?Please suggest.

Reply

793 Manish Chauhan September 5, 2012 at 7:35 pm

It is an ok sure, generally banks look for atleast 750+ . but the final decision is on bank

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794 rajbir singh September 10, 2012 at 9:20 pm

please provide helpline number to get the status of online cibil report..

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795 Manish Chauhan September 12, 2012 at 11:17 am

There is nothing like that . you have to apply your report by paying online .

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796 Sunil Synis September 12, 2012 at 6:41 pm

Hi Manish,

I submitted the CIBIL On-Line Request Form recently for my credit scores. All i got was a CIBIL registration ID : SCO0912366742. How do i go about checking its current status.
Also, i made the payment through credit card and the transaction was successful. As per the bank if the merchant fails to acknowledge this amount it would be credited back to my card. If i do receive the report will it come to my email id or the residential address?

Regards,
Sunil

Reply

797 Manish Chauhan September 13, 2012 at 10:40 pm

It will come to your email .

Reply

798 Was September 13, 2012 at 1:22 pm

Dear Brother,

I am in a confusion state now, i had CC few years back which i did not pay regularly and the bank reported to CIBIL, now after few years bank started to call me again for the repayment, the total outstanding is somewhere 1lac, but the bank says if i pay 31k they will be giving me a NOC and my rating will also increase, currently it is 640. I had a doubt on the bank and argued with them if they are planning to settle the total amount, but they say no. Said both the parties can record the conversation and they will clearly say the name will be removed and will hand over the NOC. I did asked them for the NOC template and this is what they dictated to me and i made a note of it.

We wish to inform that there is no outstanding as on date…….. on your Credit card accnt no……………, Please be informed that we have arranged to update the above card details in CIBIL database and the same would be refreshed within 45 working days.

We confirm that the card account ………has been invalidated for further usage.Please do get in touch with our xxxxxx department on the following numbers.

Now brother can you please help in this situation how do i trust this bank if they are not settling and closing the entire amount? i know settling makes no point. But bank people are repeatedly saying they will give an NOC on the above format.

Awaiting your soonest reply. Thank you very very much in advance.

Regards.

Reply

799 Manish Chauhan September 13, 2012 at 7:26 pm

Was

Seems like the are correct. They might be ready to take lower amount and give a clean chit to you . You can record the conversation , keep all the offical mails and take the NOC from them . Also ask them that they will not update it with SETTLED or WRITTEN OFF status . Seems like a new trend to me !

Manish

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800 Aryan September 14, 2012 at 2:14 am

Hi Manish,
First of all.. This is amazing.. You’re doing an excellent job on this website. You’re not just answering each and every post, but also educating a lot of us about Cibil.
This website has given in depth details about it and also is very helpful to get any info. Well… I must say, after reading and going thru each post one by one, I decided to order my cibil as well. And guess what, i’m also sailing in the same boat as others who’ve posted either a wuery or the trouble that they’ve been thru with loans/credit cards and cibil.

Anyways.. The bottomline is… I submitted the form online and scanned my documents and emailed them too. And i must say, the response from them was very prompt.
I was notified that my cibil report will be dispatched in 7 working days. However, earlier today i received another email from them,(which I didnt understand). I have pasted the same email below,. Please read thru and tell me what it means and what should I do. I’m salaried and I’m having difficulties in getting loans and credits cards as well.

Dear Sir,

We refer to your request to purchase your CIBIL TransUnion Score.

In this regard, we would like to inform you that we have processed your CIBIL Report request. However, we regret our inability to generate a score on your report due to the following reasons:

. Account information not available
. Your report has only enquires and account information not available
. The last date reported or date closed in your report is older than 24 months for all accounts
. Consumer is an ‘Authorized’ user for all the accounts in the report

In view of the same, we have processed refund of Rs 316/- (Cost of CIBIL TransUnion Score) on 13/09/2012 (date) via Online Payment mode.

Your CIBIL Report is processed and despatched on 14/09/2012

Thanking and assuring you of our best services.

Best Regards,

Consumer Relations.

Note: Please add ‘info@cibil.com’ to your contact list to prevent future mails from going into Spam / Junk folder.
******************************************************************************************************

Manish, your help will be much appreciated, awaiting your response.

Aryan.

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801 Manish Chauhan September 14, 2012 at 6:24 am

Aryan

Thanks for appreciation.

Do you have any loans or credit card in past? If NO , then there will be no credit report or score . Also if you have any loan or credit card, but its not very old even then the credit score will not be there, because it has not been too much time so that it can be generated . Its like saying there is no much of quality data on which you can be judged. Just the credit report will be there.

Manish

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802 Aryan September 15, 2012 at 7:43 am

Hey Manish,

Thank you for replying promptly to my post. However I’m not convinced with this. I do not have any loans and credit cards, unable to get any from any bank either. Its very frustating and sad to know that though I’m eligible for loans and cards I cant get any just because my cibil is messed up for some reasons. Is there anything that I can do to fix this???

Once again, your help will be much appreciated.

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803 Manish Chauhan September 18, 2012 at 1:05 pm

Aryan

Its very clear that there is something because of which you are not eligible . Its not always the case that each and every person is automatically eligible for loans just because he does not have any past loan , did you check your report ? What does it say ?

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804 Aryan September 25, 2012 at 6:26 am

Hi Manish,

Thanks again for replying to my posts. Finally I received my Cibil Report, but it was very disappointing. The Cibil TransUnion Score states NH. Which means.

A Score of “NA” or “NH” is not a bad thing at all. These mean one of the below:

a) You do not have a credit history or you do not have enough of a credit history to be scored, i.e. you are new to the credit system

b) You do not have any credit activity in the last couple of years

c) You have all add-on credit cards and have no credit exposure

It is important to note that while these Scores are not viewed negatively by a lender, some lenders’ credit policy prevents them from providing loans to an applicant with Scores of “NA” or “NH” (applicants with no credit track record). Hence, you may have better chances applying for a loan elsewhere.

Wow!!! Thats sad situation for someone who’ll be in need of a personal loan or a credit card, I have salary account with Icici Bank, They have declined my personal loan, credit cards and even a virtual credit card. Not just that, HDFC declined a two wheeler loan where i requested them to fund only 60%. That means I would never get a loan ever again!! I have no clue which financial institutions will offer loans/cc’s to NH Scorer.

Hats Off to this kinda system..

I’m perplexed, I guess I’ll have to work hard and earn money for my living and not get into all these loans and Credit cards and break my head behind this.

But whatever you’re doing, continue with the same, You’re doing a good job.
Take Care Mate!!

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805 Manish Chauhan September 26, 2012 at 11:52 am

Aryan

Yes ,thats how it is , but most of the banks will have a policy these days that one needs to have “some kind” of credit history . The past 4-5 yrs have been extremelly disappointing for banks , a lot of people are not repaying their debts, so now banks have made it extremelly strict to get a loan .

Thats one reason why I have so many times suggested that one should apply for a credit card , atleast a secured credit card and start using it . Else in future it can be an issue . So better you do that.

Manish

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806 Aryan September 28, 2012 at 2:13 am

Hi Manish,

Finally, relieved from all the cibil trouble, My scores were shown as NH, and after getting the report I applied for a PL and CC in Icici Bank, first they declined it stating that the scores were bad, later I convinced them that it wasn’t right thing for a bank to decline a loan just because there’s no credit. I told them I have a very good relationship with them as I have Savings, Demat, Online Trading, Salary A/c, Insurance, Child Plans and one FD so they just cant deny me a loan, they checked my records and found that I never had a cheque bounce for last 5yrs from either of the accounts and finally they approved the loan and cc.

These blogs and posts on your website really helped and gave me the right direction. Thank you one and all for posting here.

Good Job Manish!!

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807 Manish Chauhan September 29, 2012 at 10:47 am

Hey thats a great news .. good luck and try to help others who are in this CIBIL mess !

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808 Joydeep September 22, 2012 at 1:37 pm

Hi Manish,

I also got the response from CIBIL “inability to generate a report”. Am I eligible for getting a loan?

Regards,
Joydeep

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809 Manish Chauhan September 22, 2012 at 1:48 pm

It will finally depend on bank , your report can not be generated , means there is no enough data. Now if bank says that they can only give loan to someone who has some positive history , then you cant do much !

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810 Madhusudhan September 15, 2012 at 3:05 pm

Hi Manish,

My CIBIL Transunion score is 812, Is this score good to get any loan in the future?
Becasue, I have tried applying for a CC but its been rejected twice.

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811 Manish Chauhan September 18, 2012 at 12:50 pm

812 is good, but your report should also be good enough . Is there any loan you didnt pay in FULL earliar ?

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812 Avyaktanand Tiwary September 15, 2012 at 5:14 pm

Hey Manish,

I recently got my CIBIL score which is 778 (which is good I guess but not excellent). I have 5 active credit cards ( 2 Citibank, 1 HDFC, 1 ICICI, 1 SC). I also got a SBI Card recently but got it closed in just a month; also I had closed a Citi card earlier. However, I have never defaulted on payment and have always made full payment of my outstanding. I also have a SBI educational loan for which I regularly pay EMI. I want to apply for a personal loan in coming 1-2 months, so I just wanted to confirm whether high number of Credit cards can lead to rejection of my application for PL?

Also, recently I have got calls from IndusInd for a lifetime free credit card and I personally want to apply for another ICICI Bank credit card as well. So, if I apply for few more credit cards, will it negatively impact my score or lessen my chances of getting PL in coming 1-2 months?

Do you have an idea what is the optimum number of credit cards one should hold above which it negatively impacts the score? I have just opted for these cards because of the various offers/ privileges each offers not that I make a very high use of all the cards (except for Citi & HDFC). And I have never defaulted on payments.

Please reply with your expert opinion :)

Looking forward to hear from you.
Thanks & Regards,
Avyaktanand

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813 Credexpert December 7, 2013 at 12:25 pm

Dear Avyaktanand,

It is good that you have been making timely repayments against all your credit cards. But is there a genuine need to hold so many credit cards? Have you considered the option of increasing your credit card limit on your preferred cards and then closing the balance cards?

High number of unsecured loans/credit cards has an impact on the credit score and can also be viewed negatively by lending institutions. We would suggest that you do not apply for any additional credit cards unless required.

Regards,
Credexpert
http://www.credexpert.in

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814 technology September 16, 2012 at 4:12 am

Hello to every body, it’s my first visit of this weblog; this web site includes amazing and genuinely fine data for readers.

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815 Abdul Mukheed September 17, 2012 at 5:58 pm

HI Manish,

Really nice info thanks for it.

I have taken CIBIL report on August my score was 737, and one account with RBS NV showing written off amount as 12000. But i have made the payments for the same. I have talked with Bank people and cleared it from there end. after i talked to cibil Customer care they told me that now it has been removed from my cibil report. Now again i applied for another CIBIL report on 21st August. If i cleared dues then it should have positive impact on score i.e it should improve. But to my surprise new score was 733 :(. in between i have 2 enquiries for CC and PL so 4 points removed. But still there is no effect on score of the payment i have made to RBS NV. but status is clear now it show nil balance.

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816 Manish Chauhan September 18, 2012 at 9:58 am

Its a myth that your score should drastically improve by paying off the bad payment . It depends when it happened and what is your last 24 months of activity . Your score will improve only when you make some kind of loan payment , atleast a credit card payment .

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817 Sumit Vasdev September 18, 2012 at 2:17 pm

Hi Manish,

Can you also list down the options for people with poor credit score.

How can they work on improving it and how can they get loans or cc even with a bad score.

Regards..

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818 Manish Chauhan September 18, 2012 at 2:30 pm
819 Sathish Chandar R September 20, 2012 at 6:57 pm

Hi,
I have applied for a Home loan. I got a call from the Bank saying one of your credit card account says “Account Sold” But no pending dues.

I had never had any late payments or pending dues till now.
I had few credit cards which I had never used in the past. I have only one credit card which is valid now.

I worried what might be the reason for this status. Will this affect my application to home loan.

Regards,
SathishChandar R

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820 akhilraj September 22, 2012 at 12:15 pm

Dear Sir,

dont worry god will solve all ur problems… :)
i thnk ur going to build ur home in chennai :)

best rgs
akhil dharmajan

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821 Sathish Chandar R September 25, 2012 at 10:27 am

Thank you for your prayers.
Good guess I have planned to get a house in Chennai only.

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822 Manish Chauhan September 22, 2012 at 1:32 pm

It means your credit card company sold your account to someone else, because they thought the other company can recover the loan in a better way . What is your credit score ?

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823 Sathish Chandar R September 24, 2012 at 4:02 pm

My Credi Score is 827. I dont have any current balance mentioned. So what will there be a need for a Account been to sold to a another company? Its with Barclay’s Credit Card Account.

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824 Manish Chauhan September 26, 2012 at 12:37 pm

In that case , I think there was some kind of balance there, not sure about this actually , you should discuss this at our forum – http://www.jagoinvestor.com/forum/

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825 Sathish Chandar R September 26, 2012 at 2:23 pm

Hi Manish,
Thank you for your responses. I got my problem solved when i enquired about the issue directly with the bank. I have pasted below the reply which I got from bank for the all the people in the forum for reference.

“As you may be aware we have transferred your card account ending XXXX to Standard Chartered Bank on 05 Jun 2012 in your best interest to help you avail better product proposition and quality of service Standard Chartered Bank offers. Hence, the status has been updated as “Account Sold” in CIBIL records accordingly. Also, we wish to clarify that this status will not have a negative reflection on your credit bureau report.”

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826 Manish Chauhan September 26, 2012 at 2:34 pm

Nice ..

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827 Abhijeet P. Nagare September 23, 2012 at 4:37 pm

My score in CIBIL is 628.
Credit card payement was due of HDFC & ICICI bank which i have paid.
I am not geting any type of loan.
Pls help me how to improve CIBIL score.

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828 Manish Chauhan September 26, 2012 at 1:16 pm

Right now , is there any thing outstanding , did you settle in past ?

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829 John Ray September 23, 2012 at 11:13 pm

Hi manish,

I had a settlement with Credit Card companies, but that was 4 years back. After that I had a car loan which I have paid off completely. Still my application gets rejected for a credit card.

plz help.

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830 vishal September 24, 2012 at 6:32 pm

u have to wait for 7 years now.
Cibil keeps record for 7 years and then delete it.

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831 Manish Chauhan September 24, 2012 at 9:27 pm

No vishal

Thats wrong . 7 yrs is minimum , not maximum , in worst case the data can be for 15-20 yrs also

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832 Manish Chauhan September 26, 2012 at 1:11 pm

Yes ,because seems like your report contains that SETTLED remark for the past loan, you will have to pay it off to get rid of that status !

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833 John Ray September 26, 2012 at 10:29 pm

so shud i contact the credit card companies and pay the amount in full.

also if I do that how soon can I get a new credit card now

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834 Manish Chauhan September 29, 2012 at 11:26 am

Yes you should do that .. just keep a big gap between two loans, i would say wait for 6-8 months at least !

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835 Umesh September 24, 2012 at 9:51 pm

Hi manish,
I had taken 3 LIC policies ( Jeevan Anand) in 2009 for 20 years. I had paid two premiums for 2009 and 2010 and in 2011 I decided not to go with these policies so I stopped paying premiums. Now the status of all three policies is “lapsed without surrender value”. Will this affect my CIBIL score? I am planning to take home loan from SBI so need help for above query. Thank you in advance!

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836 Manish Chauhan September 26, 2012 at 12:07 pm

No , it has nothing to do with your CIBIL

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837 Rohit Shah September 25, 2012 at 5:52 pm

Hello Manish

I took Personal loan 30k from GE Money and 26k from HSBC before 3 years ago and Education Loan from SBI on Security. For GE Money I paid 70% ECS on time through bank on regular base. After that due to few problem my last 8 EMI was bounced and I paid all those bounced emi month by month but I did not pay the bounced fees like 350rs per emi. Now I went to GE Money and they told me that you need to pay 11,600 with 2.5% interest and you will get the NOC Letter at the same time of payment and Cebil data will clear within 45 days and our executive will come to you with NOC letter you do not need to visit the bank. I also visited the HSBC for second loan and I got call from some private agency and he told me that come to my office with closer amount 12k and at the same time I will give you recipt of the payment and NOC and for cebil clearance it will take approx 90 days.

I am going to close this two personal loan not a settlement but going to do the full payment in this week. Education is still going on. I have few due amount in SBI also but that I am also going to pay the due amount within a month and after that bank manager told me to pay due amount and after that you can pay your regular emi.

So I just wanted to know that
1. how can I trust that person and how much time take to clear the cebil record as no due?
2. Can I apply for new Personal or Mortgage loan or credit card with NOC letter?
3. Why bank is not taking the amount and providing the NOC, Can we trust?
4. Education loan is going on it was not regular but its against my property so before make it regular can I apply for any kind of loan or credit card?
5. Is there any doc should I aksed to bank when I am going to close the loan and paying the full amount of loan so that doc can help me to take other loan.
6. How can I increase the score?

I have no other loan or any kind of credit card.
Please reply me as soon as possible

Have a great day ahead
Regards,
Rohit Shah

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838 Manish Chauhan September 26, 2012 at 11:25 am

Rohan

Here are answers

1. Check his Icard , check with customer care if he is the employee of the bank , If its possible better go to the bank directly and make the payment there, make it through cheque , and on company name, not on a person name

2. You can try that, but note that banks will be reluctant to give a loan immediately, it matters how many loans you have taken earliar , dont behave credit hungry

3. They will

4. Bank will ask for a income proof , which you will not be able to provide, so it will be tough

5. NOC is enough and also ask for a written letter which says they will update CIBIL on this

6. Read – http://www.jagoinvestor.com/2012/04/tips-to-improve-cibil-credit-score.html

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839 Rohit Shah September 26, 2012 at 2:08 pm

Hello Manish,

I really appreciate your quick reply. Thank you very much for all the answers of the questions and help. You cleared my all doubts, now I am just looking for 1Lakh rs loan and My monthly income is around 56k, So I think its enough income to get 1lakh rs loan. But as per your advice I will go with first to check my credit history and after that I will apply for the loan so hope it will not affect to my cebil score. Even in past 3 years I din’t apply for any kind of loan or credit card as I know that I din’t pay loan and it will reject 100% so there is no meaning to apply for any loan or Credit card=, But now Want to apply for loan so before that I am going to clear all the debt and check the cebil record and apply for loan or credit card with you advice.

Really thank you for your help

Have a great day ahead

Regards,
Rohit Shah

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840 Manish Chauhan September 26, 2012 at 2:10 pm

Ok great ..

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841 Sam September 26, 2012 at 10:20 am

Manish,
Appreciate you for very good information. I have a question. I had a consumer loan from bajaj finance 7yrs back and paid all inst (3adv emi and 7cheques) and all got cleared. now they are saying it was 1adv emi and 9 cheques and they are expecting two more payments. I told them to show my remaining two cheques i will pay that amount (Rs.750). They could not show because, I never gave them 9cheques. currently, my personal loan got rejected.
Question : Now, if I want to check CIBIL report by providing my current address proof, will they publish my address to them? Because, there is a chance that some third party agencies may start nuisance at my current address.

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842 Manish Chauhan September 26, 2012 at 10:46 am

No – you can apply for your cibil , the address will just be a creditial to check, it will not be included in the CIBIL report . Regarding your case, did the number of debits which happened from your account equal to the requirement or not ?

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843 Sam September 26, 2012 at 4:36 pm

Thanks for reply. Yes all those 7 cheques got cleared from my icici bank and i showed them the statement. When i asked them remaining two numbers, they just gave some serial numbers. But those cheques were not given to them. Only problem from my side was, I was not in a position to prove that i paid 3 adv emi’s. i didnt have proper bills. They were not able prove that I am two emis pending becuse, they dont have my cheque details. Finally, it went to write off. Then I ignored it.
My worry is if I provide my current address for CIBIL report with PAN/Passport, these details will not be shared to Bajaj guys right? If yes, they again start troubling by calling, coming to home and my parents will be irritated. I wont be staying at home as i work on deputation in some other place.

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844 Manish Chauhan September 29, 2012 at 12:01 pm

yes if you give your current address, the chances are high that they will come for recovery , I think you should pursue it with the banking ombudsman now

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845 Ganesh September 26, 2012 at 5:18 pm

Hi Manish,

May i know how the bank’s report goes to CIBIL. I had a education loan from a Govt Bank, which i did not pay the EMI for last 6 months. I gave all my tenth, twelvth mark certificates, ration card to get that loan. I did not have PAN at that time.

Now i have applied for personal loan at HDFC bank 3 months back and it was approved on time. This time, i have given my license and PAN, and employment details to the bank. My query is , how the personal loan got approved while i am having a education loan due in a govt bank.
So will the bank, update to SIBIL only with PAN/License number?
Non repayment of my educational loan did not have anything to do with my future loans?
Non repayment of educational loan did not have anything to do with the credit history?

fyi, im paying my personal loan EMIs on time.
Kindly clarify my doubts.

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846 Manish Chauhan September 29, 2012 at 11:50 am

Ganesh

Its all about how well they can establish the relatinship and identity , The new bank could not get your information from CIBIL , becasue you did not have your PAN and other info .. but now it will go to CIBIL

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847 Awadhesh Gupta September 29, 2012 at 1:28 pm

Hi Manish,

I got my Cibil score as 680. Please suggest, can i get personal loan?
As all my dues are cleared still i got only this much score, i understand in past there was few late payment but does that mean that i will not get any credit in future ?
Also suggest how much time it will take to cross 750 score?

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848 Manish Chauhan October 2, 2012 at 3:21 pm

Your score will get better in future if you keep making some kind of repayment . But with 680 , you dont have much chance of getting a loan !

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849 Rajesh September 29, 2012 at 11:05 pm

I have got sanction letter of home loan from LIC HFL but it is not yet disbursed.Meanwhile after getting sanction letter I applied for personal loan an got disbursement also. Does this affect on credit score & disbursement of Home loan ?

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850 Manish Chauhan October 2, 2012 at 3:14 pm

Should not be much issue , as you have already got it done !

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851 Mayank Gupta October 1, 2012 at 3:49 pm

Hey Manish,
I had some dispute with HDFC bank credit card which was later resolved. I tried to apply for consumer loan but it got rejected thats when I figured HDFC guys have not made correction in CIBIL. I asked them to do so and send me my report.
It says credit score of 628
Is this a decent score to apply for PL? I don’t have any credit cards now or any loan , Is there anyway this score can be improved?
What are my chances of getting a new credit card with this score so that I can start paying it off on time and improve the score?

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852 Manish Chauhan October 2, 2012 at 1:52 pm

Mayank

PL is a unsecured loan, and unless you have 800+ , i think it will be tough ! .. Check with your bank why your report was not updated and once it does (it will take 45-60 days) , your score will go up , but i doubt if it will move more than 750 .

You can always take a secured credit card against a FD !

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853 Mayank Gupta October 3, 2012 at 12:07 pm

Hi Manish,
Thanks for that, but would the score go up automatically or my bank needs to do the same?
They said they have already cleared the outstanding amount in CIBIL and that’s the max they can do. I am not sure whether they can increase the score too.
Can you also tell me if this score is good enough to apply for credit card if not PL?

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854 Manish Chauhan October 4, 2012 at 6:53 pm

Banks can only update CIBIL , finally CIBIL only calculates Score !

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855 Shaan October 1, 2012 at 4:54 pm

Hello Manish,

I had few defualts about 5 years ago due to Job issues. Later I settled all my accounts(loan+Credit Cards) with various banks at principle amounts. I have recently realized that my CIBIL Score is currently at 610. Would you be able to advise if there was an impact due to those settlements and what is necessary to help my score get better.

Thanks

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856 Manish Chauhan October 2, 2012 at 1:42 pm

Yes , settlements are taken as negative action and are reported to CIBIL . Read this – http://www.jagoinvestor.com/2012/03/loan-settlement-hurts-cibil-report.html

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857 SANGRAM SINGH October 4, 2012 at 1:12 pm

I want to know my all out standing dues of respective loans.

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858 Manish Chauhan October 4, 2012 at 4:03 pm

Apply for your CIBIL report then

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859 sandeep October 4, 2012 at 3:27 pm

I have taken home loan as well as car loan 4 months back and i am paying each EMI in time.
Apart of this, I have given advanced payment checks to my friend’s owner as a monthly rent payment.
My friend did not have checks, so i gave in behalf of him. The checks given to owner bank is different from loan account bank.
Till now, 2 checks have been dishonoured for the owner because of insufficient balance.
I have paid the amount by online transfer to his owner, and he has not the issue.
It is simple check and no relation with my loan account.
Will it effect my CIBIL score or if it affects, how can i solve this.
Thanks in advance.

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860 Manish Chauhan October 4, 2012 at 3:59 pm

No it will not affect your CIBIL report and score

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861 Rahul October 4, 2012 at 3:50 pm

Hi Manish,

I had applied for my CIBIL score and have got it yesterday. I have a score of 718. I am in an urgent need of a personal loan. I had a bike loan which is not closed but had 5 cheque bounces in it. have made all payments with penalities. my other loan has no defaults at all. recently HDFC rejected my pl application saying i had 5 bounces. can u plz suggest me wat to do and whether i can still go to some bank and get a PL

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862 Rahul October 4, 2012 at 3:52 pm

i am sorry there is a slight mistake in the second line regarding bike loan. I have already closed the loan. Instead of “not closed” i wanted to write “now closed”

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863 Manish Chauhan October 4, 2012 at 3:58 pm

Thats ok , still your cheque bounce is an issue . If that happened due to your not paying things on time, then its an issue

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864 Rahul October 4, 2012 at 4:05 pm

So wat do you suggest. should i apply or talk to some bank now for a PL or will it be a futile exercise. i do not wish to apply again and get rejected. are there any banks who would entertain me?

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865 Manish Chauhan October 4, 2012 at 3:53 pm

Rahul

It will be very tough for you to get any personal loan at this moment. Your score is not that great (its just ok) . So You might want to wait for some more time and pay some existing debt to build your credit history.

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866 Ashok Zachariah October 6, 2012 at 1:35 pm

Hi Manish,
First of all a very big thanks for all the gud work being done by u. Am from chennai. I had a credit card with SCB way back in 1998, as there was some wrong entry in my monthly statements, which even after repeated request to them for having it cleared, they had not done it. I stopped making my monthly payments, after which they came for a settlement, and they had issued me a settlement letter for Rs.25,ooo/-. I had paid it by cheque drawn on ICICI bank. I had recently applied for a Home Loan as a co-applicant from HDFC. They now inform me that, I am being listed in CIBIL as a SCB credit card defaulter for a sum of Rs.13,00,000/- (Rupees Thirteen lakhs). I had shown the settlement letter of SCB and my ICICI Bank monthly statement of Dec 2001, which shows that my cheque to SCB has been cleared by them way back in Dec 2001. I had gone to the local SCB Credit Card office, wherein a staff over there informed me that they had in fact received my payment of Rs.25,000/- in Dec 2001 itself, but have not reversed the balance amount in my credit card account. I have also mailed and also sent Registered letters to SCB with all the proofs attached, but they have still not given any reply. Should I write to CIBIL and to banking ombudsman about this. Can I file a case against SCB with the consumer forum. Pls do suggest what has to be done further on this issue. Thanks n Regards. Ashok Zac.

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867 Manish Chauhan October 9, 2012 at 10:35 am

Yes, you can now file a case with Consumer forum and also inform banking ombudsman on this , but was that 25k payment the full payment or it was a lesser payment than the outstanding , because even in case of settlement , the rest of the balanace is reported to CIBIL .

Also open a dispute resolution with CIBIL on this – http://www.jagoinvestor.com/2012/01/cibil-credit-report-mistakes-correction-steps.html

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868 MVADITYA October 9, 2012 at 3:39 pm

HOW ABOUT THE ONLINE CIBIL SCORE GENERATION. WE WILL BE GETTING THE MAILS WHEN EVER OUR SCORE IS CHANGED OR 450 RS IS ONLY FOR ONE TRANSACTION?

REGARDS
ADITYA

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869 sivakumar October 10, 2012 at 3:36 pm

Dear Aditya, It is only for one transaction. Every time you need the report you would be required to pay the amount.

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870 Manish Chauhan October 12, 2012 at 3:20 pm

450 for each time

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871 Flower October 10, 2012 at 9:01 pm

Hi Manish,

I received my CIBIL report yesterday and the score is 834. I had 2 personal loans previously (HDFC & ICICI) and there were couple of check bounce. I paid all the payment and both the personal loans were paid in full and closed as of August 2011 . I applied for new personal on Nov/Dec but my loan was rejected saying I had some check bounce earlier. I don’t understand the reason. Yes, it was my default for earlier mistake but now I have all the loans completely and settled why my new loan is rejected irrespective of my score (834).

FY…ICICI was closed on Apr 2011 and HDFC was closed on Aug 2011. New loan applied on Nov 2011.

Ques 2: In my report, I see DPD:AC as XXX, 025 & STD. What these stands for?

Appreciate your quick reply

Reply

872 Manish Chauhan October 12, 2012 at 11:38 am

Its mostly happening because of your past mistakes, the DPD shows that in past how many months due was there in any given month and thats making banks reluctant in loan giving . Note that just because you have rectified past mistakes does not make you clean ,the fact is it happened !

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873 Flower October 12, 2012 at 11:49 am

I had a personal loan earlier and it was paid if full with zero balance now. As I said above, I had some payment default for few months. Payment history in the cibil reports is from 09-2008 to 08-2011 (36 months). In these 36 months, I have DPD – 025 for 6 months.

03-09
02-09
01-09
12-08
11-08
10-08

Q is, I already paid the loan but how can I remove these DPDs from my Cibil reports. I do not have any loan pending to pay and improve the scores better or get out this dpds. Can I pay my credit card bills ontime and remove this dpd or it should be only from this particular loan ( as said, it is paid in full already(

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874 Manish Chauhan October 12, 2012 at 12:20 pm

You cant not remove DPD ! , no matter what .. they will keep moving for each month

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875 Jitendra October 14, 2012 at 12:39 am

I have not taken any loan till date, also dont have any credit card on my name,
But applied for credit card 2-3 times, it was rejected , dont know why.

Any relation with past IT return filing ?

any suggestions ?

Reply

876 Manish Chauhan October 16, 2012 at 2:19 pm

It might be related to your income , if you income is low ,then it might be rejected

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877 sarabjeet October 18, 2012 at 11:01 am

Dear Manish ji,

I had taken a PL from HDFC Bank in 2007, which I settled in April 2011 paying some amount (not full).
I have 5-6 running Credit Card Accounts, payments are made timely.
Recently I checked my CIBIL score my Persona Loan Score is 755 and Transunion Score is 777.

My question is – Is it enough score to apply for a Car Loan in a year and Home Loan in 2-3 years time ?

Please comment

Sarabjeet

Reply

878 Manish Chauhan October 19, 2012 at 9:07 am

Note that your score can move up and down over the montsh , so dont rely on current score for future .

Now coming to your point, your score is decent . But some lenders might ask for more than 800 score and also will look at your report . So all you can do is check with lenders on this .

Manish

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879 Binod Kumar October 19, 2012 at 3:10 pm

Hi Manish,

First of all, I would like to thank you for such a wonderful work. Its really helpful.

I applied my CIBIL report last week and received it yesterday. My credit score is 737, and I am quite disappointed. I have about 6 credit cards (since 2005 – HSBC, Citibank, SBIx2, HDFC, and SC) and I have been using them on regular and rotational basis. Have never ever missed any payments, all payments were on time. There were few instances where i dropped cheques before due dates, but banks received it after the due date and they charged late fine (but after speaking to CC, they revered back the lat fee amount– but it happened only twice or thrice).

Also, I had a personal loan from HDFC which I pre-closed during mid last year (paid in full). Took another personal loan from HDFC this year (march) of amount 4,95,000. Loan got approved and have been paying regularly (ECS).

Another strange thing i noticed in my report that there are dozens of false credit inquiries which i guess made me look credit hungry. There is one entry from HDB bank (HDFC?) that I applied for a personal loan of INR 2 Crore!!!! I don’t remember applying for a personal loan of INR 2 Crore and which bank gives PL of 2 Crore???

BTW, what could be the possible reason for such a low score despite of regular usage of credit cards and payments ? Also, is it important to contact bank or CIBIL for removal of false credit inquiry from my profile?

Thanks in advance!

-Binod Kumar

Reply

880 Manish Chauhan October 22, 2012 at 12:19 pm

Few reasons for low score can be

1. More presence of unsecured credit like Personal Loan and Credit card

2. Those credit enquiries.

I clearly see cases of identity theft here , better manage your documents well in future. and talk to CIBIL and banks on these enquiries and see when was it applied and what document was submitted .

Manish

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881 Naveen Sharma October 23, 2012 at 7:06 pm

Hi Manish,

Thanks for all your suggestions and make people aware for same. Keep up the good work.

I am having one question, Basically i Had one HSBC CC and PL and not able to pay dues from last 2-3 Years. When i contact HSBC they Said for all the closures you need to contact JM finance.

Can you please suggest is this correct if I contact JM Finance for Re-payment..

Also in MY CIBIL report total outstaning is134000 and 46000. Respectivly Can you please suggest how much i should pay or I should pay completly.

IF i pay complete then how much CIBIL Score will be increase. Curreently it is 514.

And how much time it will take.

Please suggest.

Thanks,
Naveen

Reply

882 Manish Chauhan October 24, 2012 at 8:37 pm

You need to pay complete amount ,else it will be reported again as “SETTLED” . Now contact JM finance . Your score should drastically imporve with this .

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883 Naveen Sharma October 26, 2012 at 3:18 pm

Thanks Manish,

How does if impact score, if i pay Them By installment.

Or One time payment will improve score more as compare to installment.

Please suggest.

Thanks,
Naveen

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884 Manish Chauhan October 27, 2012 at 11:42 am

If you make a one time paymnt, then you have not taken any loan, then CIBIL does not come into picture at all, if you take a loan and pay them in installments it create a credit history and shows that you are capable of repayments.

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885 Naveen Sharma October 29, 2012 at 2:52 pm

Hi Manish,

Thanks for information.

In My case i am talking about total due amount. Should I pay them in one go or ask them to allow some EMI on ooutstanding amount and close the CC and Loan.

how does it impact Currect CIBIL score if in EMI or one time.

Please suggest.

Thanks,
Naveen

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886 Manish Chauhan October 29, 2012 at 6:25 pm

Just pay the full amount , dont ask for discounts . They dont exist !

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887 Ganesh Rao October 24, 2012 at 8:01 pm

Hi Manish ,

Recently my loans were getting rejected due to bad credit history reflecting in CIBIL Report. The reports are of 2 credit cards one which shows settled and other written off way back on 2006. Since then its been 6 yrs of good credit history for me without missing any loan payments or credit care dues. Recently i got my cibil score and it shows 628 points.
I will be talking to the bank about this soon to make them understand that it was their mistake because of which i am suffering now.
Even then if the bank says they will not do anything regarding my status or gives me a false promise that they will communicate to CIBIL , is there any way that we can get a letter from bank saying they have accepted their mistake or communicated to CIBIL?
Is there any ombudsman similar to insurance , to drag these banks for not communicating to CIBIL ?
Waiting for your reply
Thanks a lot
Ganesh