My mom had credit card with ICICI bank years ago. And she already closed it on time. But this ICICI bank gave my moms detail to CIBIL list( I dont know why). Now when she tries to apply loan with any bank she is not able to since her name say pending under CIBIL list. Can anyone help about this?
All banks hold the list of people who defaults credit card/Loan payment, to track the defaulters. If the names is listed in the cibil u need to talk with the bank why it has been listed if its not ur fault, if you have defaulted u need to resolve it by paying the amount. Only after the name is removed from the cibil you will be eligibile for any loan.
Hi, CIBIL is a bureau that holds customer's credit history i.e... Banks and financial institutions in India are members of it and they share defaulters list among themselves so that a huge loan defaulter of one bank does not approach any other bank for finance. But one's name will not be added unless the default amount is huge or the repayment history is very dissatisfying. I'm wondering how your mom's name got added . First hand, contact the BM of the concerned branch and ask him to detail about what information was sent.
Dear SInsa, "Credit Information Bureau (India) Limited or CIBIL is a Credit Information Company (CIC) founded in August 2000. Post Inception, we have come to play a critical role in India’s financial system. Whether it is to help loan providers manage their business or help consumers secure credit faster and at better terms, the use of CIBIL’s products have led to a massive change in the way the credit life cycle is managed by both loan providers and consumers". The member banks of CIBIL used to give the details of loans and credit card information to CIBIL. Whenever we go for a another loan or credit card, they ask to CIBIL to rate us according to the repayments made. You please verify with Mom's Bank the details of Card repayments whether any amount is outstanding or not. Or with any other loan. for further information you can go to CIBIL | Credit Scores, Credit Reports and Risk Management Solutions
CIBIL will have all defaulters list , which were fiancial instituation have right to update. You pay 300-700rs and get the cibil report to know the issue. If any wrong information, you can follow up with Bank ombudsperson and have right to correct the mistakes. Banks will support if any issues. Every bank will check CIBIL report for all types of loans/credit card issue.
Hi, Am assuming that your Mom did not default the payments.. In such a case, this could happen if another person with the same name had defaulted payments as well. So, you need to approach the bank from which you are applying the loan to contact CIBIL and clarify/ prove that the person listed in CIBIL with defaulted records is not actually your Mom. This exact situation happened to a close friend of ours and it took almost 3 months to clear his records and avail the loan. You have to be consistent with the bank to ensure they contact CIBIL. Good luck Cheers, JM
ICICI must have issued a NOC letter to your mother at the time of closing or there might have been a payment pending on it which is why her name must be reflecting in the CIBIL report. You can appoint a credit counselor who can help you to raise a dispute with the bureau and with the bank too. To know how credit counseling helps you visit What is credit counselling and how important is it to improve your CIBIL score
