deepthi (SE) 16 February 2012

Issue in getting any loan aand credit cards

Can anyone help me in giving the solution for my problem stated below.I am not able to get any loans and credit cards due to the mothers bad cibil rating which has taken place due to settelement and cheque bounces(the main reasons to be noted in cibil rating of my mother) hence she has been kept as a defaulter in CIBIL . I have ben told that I will not be able to receive any loans or any credit cards in my life. If this is the situation it is very difficult for me in the future. Please let me know how can I avail loans irrespective of mymothers financial cibil rating

hope anyone can help me out of this problem

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3 Replies

R Nandy (N.A) 16 February 2012

Have you seen your own CIBIL report? If not,then try to get it from CIBIL.You will have a clearer picture of your credit rating. CIBIL report of an individual only has the credit history of the individial and not of the parents.Even mothers name or reference is not there in the credit report.

Personal loans and CC cards are given on the basis of a persons credit rating and monthy cash flow(earning) and has nothing to do with her/his parents credit rating.

Who has told you about this? Have your CCard applications been turned by multiple banks?

I feel it is mere speculation on your part based on some half baked information.

deepthi (SE) 16 February 2012

I have seen my CIBIL report and it has rating of -1 , this indicates that I have not taken any loans an there are no loans in relation with me, but when I have tried for a personal loan and car loan I came to know that I willnot be able to get the loans as there are some cheque bouncesand settlement of personal loan on my mothers name and hence I will not be able to get any sort of loans from any banks.

Kumar Doab (FIN) 16 February 2012

For accessing the credit report full name, panc card number,DOB, address is taken.

For CC, Bank a/c mother's maiden name is taken as a security question.

If a loan application, CC request is to be rejected the company is liable to decline in writing. Hence you should obtain the written letter citing reasons for declining your application.