Dinesh G (Helpdesk Engineer) 26 May 2014

Need some information regarding the cibil score

Dear Sir,

I am Dinesh G from bangalore, actually i have taken the loan from the NBFC, from the bank side issue i have stopped the EMI, so my outstanding amount was Rs:112000, finally i spoken to the branch manager and settled the amount for Rs:57000, now they have provided me the foreclosure letter , in that they have mentioned stating they will submit to CBIL as a settled, my concern is that if they update in CBIL as settled, do i face any issue in future for any loan. Please help me to know the details for this.

Regards,

Dinesh G

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2 Replies

Sankaranarayanan (Advocate) 26 May 2014

You availed the loan amount and use your own purpose, Even your financial difficulty the default of the EMI is purely breach of agreement with bank. While give the foreclosure letter you request the banker to waive the interest and penalty. if then hope it will not reflect in the CBIL

Dinesh G (Helpdesk Engineer) 26 May 2014

But actually my CIBIL score is too low, is there any chance to bring it to the good score and if there is a chance can you please guide me how to repair my CIBIL Score.