Dear Manish,
Recently I pulled out my CIBIL report as my personal loan application was rejected and I was told that my score is 566. I observed followings in my report
a. Three W/O from Phoenix ( I was having two ABN AMRO bank credit card and due to dispute with the bank I had not paid them)
b. One fully paid personal loan
c. Running car loan from SBI from last 15 months with 000 DPD.
d. One running credit card from HDFC since 2004, without any default and 000 DPD.
e. two credit cards without any due/overdue with I had closed long back, with credit limit of 100,000 each.
Please advice
a. If I make 100% payments of phoenix (they claim that ABN was sold to RBS and RBS sold all these assets to Phoenix and Kotak guy has talked to me) one after the other, by how many points I stand to gain. Infact I was offered by their collection guy that if I pay 50% of the amount, he will issue a settlement letter and a NDC. Wht is it and does it help at all?
b. If I raise a dispute with SBI and HDFC thru CIBIL for removal of non existing credit cards, will it also improve the score?
c. I am 49 now and need to go for housing loan, how soon can I move ahead.
Regards,