Education loan
K G Srinivasan
(Querist) 26 May 2012
This query is : Resolved
Please clarify if the parents CIBIL is unsatisfactory or in default list can their child be denied the education loan for Rs.3.5 Lakhs? Please guide.
Anil Kulkarni
(Expert) 26 May 2012
Any loan lending agency gives loan on the basis of honesty and capacity to repay. The loan given to the child for education is on the basis of guarantee by parents and any negative rating by CIBIL for parents will have adverse impact on grant of the loan. The CIBIL rating for the parents must have some basis as they must have defaulted payment of some loans. The wisdom of bank cannot be questioned. Check as to why the rating is unsatisfactory and try to convince CIBIL if it is wrong.
K G Srinivasan
(Querist) 26 May 2012
Sir there are some judgements which clearly says that the cibil report of the parents should not obstruct in the childs future and iam in search of that judgement which are from Madras High Court
Shonee Kapoor
(Expert) 29 May 2012
Repeated query.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
ajay sethi
(Expert) 29 May 2012
repeated query no reply
C. P. CHUGH
(Expert) 29 May 2012
Childred inherit their parents legacy, wealth and goodwill, then why not they should share the burden of their liabilities. If your parents CIBIL is negative, your efforts should be to make it positive and not to challange the lending agency, who have once trusted your parents and deceited.
