Rejection of loan application on the basis of CRISIL RECORDS
Abhimanyu Bind
(Querist) 09 December 2010
This query is : Resolved
I wanted to purchase a Bajaj Pulser Bike on finance basis and for that purpose I submitted my required documents to Bajaj Dealer. But Finance department of Bajaj rejected my application on the basis of the 1 instalment defualt of my elder brother to GK MONEY Loan.
Now, my question is that they can do so? On basis of any defualt of my family members in paying of loan instalment? My brother is not in contact any of the family member since last 4 year. He is leaving sepratly.
I have refered CRISIL website, where it is clearly written that company cannot deny to finance customer on the default of any family member of customer.
So, please tell what are the remedies available for me?
Thanks in advance..
Advocate. Arunagiri
(Expert) 10 December 2010
The finance company normally will not grant loan, if any of the family member residing in the same address, is a defaulter.
s.subramanian
(Expert) 10 December 2010
yes.Morevoer it is a matter of discretion of the financier. Nobody on earth including the Supreme Court has powers to compel anyone to lend his money against his wishes.
Parthasarathi Loganathan
(Expert) 10 December 2010
Database in CRISIL maps the parental details, date of birth, address, PAN, etc of any applicant and draws co-relation with exceptions. UID concept in future will add more features to the personal details of citizens.
Abhimanyu Bind
(Querist) 11 December 2010
Thanks a lot to you all expert.
My loan application is pending from almost 17 days. They are saying I have taken loan from GE Money loan and defaulted one installment of Rs. 5000 which is not true. Bajaj Finance is saying they have trusted on the report of FI agency.
Now, I am asking the same thing in writing but they are denying for that. Now, if they are saying truth then what's the reason of doing so?
And its my first loan. They are saying you have taken loan and defaulted which is not true.
So, now on that thing can I pursue them or not? Kindly give reply.
Devajyoti Barman
(Expert) 12 December 2010
Thouh you can pursue but you can force even throuh court of law to grant the loan as it is discretion of the company.
malipeddi jaggarao
(Expert) 13 December 2010
If loan instalment pending is related to your brother's loan, you can show some proof to the company and convince them. If your brother residing separately the company will not deny loan to you. For this you should be in a position to present the facts in proper way to the automobile company. If you are a salaried employee they can enquire about your financial discipline with your employer also. But as expert rightly say, if they have decided not to entertain you, nobody can force them to sanction a loan to you.
Abhimanyu Bind
(Querist) 13 December 2010
Thanks, actually I want to pursue them (Bajaj Finance) for giving false facts. They are not able to prove but saying that I am defualter. They have no courage to give it me in written form.
DEFENSE ADVOCATE.-firmaction@g
(Expert) 10 December 2010
