Rediff should think twice before posting these kind of articles. What is the use of these articles for readers? No one gets any benefit. people like us are interested in reading about, How to reduce spending and save more?, How to take right investment decisions? What to do with investments and what not to do with investments.
If i continue seeing these kind of useless and time wasting articles, then i will not come back to this site and will move in to some other site where i get better resource for personal finance.
Ok in one way it tells the financial institutes about an individuals net worth score, but how much is it relaiable? Inspite of we clearing a personal loan on settlement basis sought from Countrywide, our score shows that we have not cleared the same as countrywide must have forgotten to inform CIBIL, so how one gets to rectify this mistake?
CIBIL reports are only beneficial to financial institutes as they are its main prime subscribers and they are not beneficial or helpful to general public in solving their matters, as cited above nor do they do anything in solving such issues or taking up such matters with the concerned financial institutes who may not report properly to CIBIL about loans repaid in settlement.
All banks and insurance companies are cheaters. They were the one who caused losses to several people eg Lehman Brothers. They will not do any good to people but meant to extort money. It happened with me. I opened an account in one of the reputed bank in 2007 which was quite close to hospital. Also, I opened a DMAT account. As I was hospitalised, I told them not to send details to my home as it will get returned. I told them if there is a way possible, I'll collect it from the branch.The bank has not yet given me check book or debit card or any details to do the transaction. I told the bank branch about this. After few months, they replied that they do not give these details in bank branch and it will be sent to your home. I requested them if I can collect by showing my passport and rest of the details as most of the time I am away from home. They refused and when I checked my bank acount I came to know that they have turned my bank balance 0. I asked for the transaction details but the bank has not yet provided me so far.
All banks and insurance companies are cheaters. They were the one who caused losses to several people eg Lehman Brothers. They will not do any good to people but meant to extort money. It happened with me. I opened an account in one of the reputed bank in 2007 which was quite close to hospital. Also, I opened a DMAT account. As I was hospitalised, I told them not to send details to my home as it will get returned. I told them if there is a way possible, I'll collect it from the branch.The bank has not yet given me check book or debit card or any details to do the transaction. I told the bank branch about this. After few months, they replied that they do not give these details in bank branch and it will be sent to your home. I requested them if I can collect by showing my passport and rest of the details as most of the time I am away from home. They refused and when I checked my bank acount I came to know that they have turned my bank balance 0. I asked for the transaction details but the bank has not yet provided me so far.
My personal experience is that i paid the requisite amount and applied for my report. they collected the money and its been 6 months i have not got the report... lost my money and cibil is rich.....they give info only to banks..dont fall into cibil trap!
Re: getting info from CIBIL is impossible
by Ravi Krishna on Apr 25, 2011 05:02 PM
I got my report in 3 weeks, just check with CIBIL.. you must have got control number to UR email.
Re: getting info from CIBIL is impossible
by Bharat on Apr 25, 2011 05:02 PM
Same is true with Vodafone. They keep advertising their Vodafone Tuesdays - where if you SMS they at 56789 - they will offer Tuesday movie tickets at Buy 1 get one free at PVR. Most of us will do this - but the promotion code which they will send will not be applicable at PVRs. So we loose INR 3 for all such SMSs. Vodafone gets richer - since lakhs of people do this..
Re: getting info from CIBIL is impossible
by Ipsita S on Apr 22, 2011 11:53 PM
did you receive the control number from CIBIL by email? I got my report within 4 weeks.
CIBIL - A market Agent Association Body. Your CIBIL record is negative - no problem, catch any Bank Agent, they will provide you loan from the same bank, which denied your loan earlier when you approached them directly only in the name of CIBIL record negative. You need to search a good agent, your CIBIL problem already sorted out.
CIBIL - is a Fraudulent Institution set up in India. If you have any disputes with bank with regard to your Loan Accounts/ Credit Card accounts and at a later stage, you get that loan settled with Zero Outstanding in Bank record. Even then, CIBIL does not update its record giving the plea that it will update CIBIL record only when concerned bank send the updated record. But, technically, why bank will send the full settlement payment details to CIBIL when it already received the payment. And in CIBIL record, the negative report of that individual remains negative for ever. If you approch with concerned Agent available in market for removing/correcting CIBIL record, they will do the same provided you pay them a reasonable amount. CIBIL has been instituted fradulently to extort money from common man in the name of CIBIL record negative.
Re: CIBIL - a Fraudulent Institution
by Ram on Apr 22, 2011 02:45 PM
Can you give the name of the agent so that I can get the unwanted things from my CIBIL report
CIBIL is acting like Indian Police, who is determined to harras people. The major defaulter recorded in India pertains to Credit Card transaction. Every people knows, how credit card banks are cheating a common man with faulty bill and unnecessary levied charged in bill statement. When people donot pay its unnecessary inflated bill, the same got recorded in CIBIL and thereafter, the process of extortion of money from people started. If you approach bank for new loan, they will straight way say, your CIBIL record negative. But, if you approach the same bank through its Franchise or Agent, they will approve and disburse the loan by taking extra 3-4% charges through Agent.
CIBIL in India is a nexus between Bank & Consumer to exploit more money from Aam Admi. CIBIL has proved to be a Police Station for harassing the people, instead of helping them out.
Re: CIBIL is Police Station for harrasing people
by rajan vaidi on Apr 22, 2011 11:46 AM
Mr Mehra, you are 100% right,if somebody feels on the other way, when you experience you will realise rajan
Re: CIBIL is Police Station for harrasing people
by ANIL SAHARAN on Apr 22, 2011 11:55 AM
You are absolutely right Mr. Mehra, I passed through the situation you wrote
Re: Re: Re: CIBIL is Police Station for harrasing people
by Piyush Das on Apr 22, 2011 01:25 PM
It is my personal experience... All the private Banks are only their how to get profit from taking money from common man. As much as possible donot take loans. It is not adviced to take loan from Private banks...
CIBIL really works for not granting loans for people who need the most. It dont work for granting loans whom banks/financial institutions want to give without any verifications. You really should have good relations with the bankers NO CIBIL is required.
Re: new trick to suck money
by anupama singh on Apr 22, 2011 11:40 AM
if this works properly then how policians and diplomats dont have work for them. So dont panic have some broker/agent and get the work done.
