A loan taken and submitted EMI cheques for the entire amount at the time of taking the loan.The financial agency did not present the cheque to the bank but started telephone calls, personal visits by their recovery agents demanding reportedly dafaulted payment informing that the cheque has bounced. The financial agency was requested to send back the bounced cheque with the banks return memo which went in vain. A written information on the fact of bouncing of the cheque was also sought which was also refused but wanted the payment to be made. It is very clear that they have not presented the cheque at all to the bank for payment. Now it is found that it is recorded in cibil. Since there is absolutely no fault on the borrower and the agency claimed falsely that the cheque has bounced, stubbornly reluctant to return the so called bounced cheque and never responding in writing about the bounce. Yet there is negative cibil report. Now against whom to proceed- whether cibil can blindly enter whatever is informed to it without giving any facts. Can one proceed against the lending agency. Kindly clarify.
It's amazing to see what are we coming to. I have to pay almost 500 bucks for getting to know my own credit score. If it's my score, why is it not free for me? Why demand a hefty Rs 470 for that?
Just a simple method (read free) to check if you credit scores are good anough or not, apply for a credit card. If the application is rejected, you are in the red zone; and now onwards, you must stop defaulting on any type of existing loan - home loand, personal loan, credit card, vehicle loan, education loan, and so on. If you are issued the credit card, it's all good. For once, that lady calling up in the middle of work to offer you a new free credit card wouldn't sound that annoying!
But don't go overboard applying for a number of credit cards; that'll bring down your credit score.
Re: enquiry of credit score from CIBIL
by Amey Joshi on Feb 07, 2013 11:48 AM
No it won't, your credit score depends on
1. Managing the paymenets of the loan and credir card on time. 3. No settlement with any credit card and bank for any loan. 4. NO EMI is bounced due to insufficient funds(bouncing EMP also results in -ve score in CIBIL). 5. Your earning capability and loan taken against them.
