Consumer Durable Loan

POSTED BY Prasad G ON September 23, 2012 3:27 pm ONE COMMENT

Hi,

I have a consumer durable loan

If the cheque presented to the bank is returned, with the reason that “BANK REJECTED MANDATE-SIGN MISMATCH”.

Does this affect from Credit rating with repect to CIBIL report?

 

Please answer my query ASAP.

One reply on this article “Consumer Durable Loan”

  1. Dear Prasad, if it’s only a single stance of cheque bounce, bank or FI ‘ll not report it to CIBIL but in case of repeated events, your case ‘ll surely go for CIBIL.

    To save you from consequences, please pay the amount of EMI + the cheque bounce charges immediately to your FI.

    Thanks

    Ashal

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