Go Back   Team-BHP > BHP India > Team-BHP Reviews > Indian Car Loans & Insurance

Thread Tools Search this Thread
Old 27th June 2017, 12:18   #61
kingjulian's Avatar
Join Date: Apr 2011
Location: Bangalore
Posts: 11
Thanked: 50 Times
Default Re: The Devil in CIBIL (reports)

It is using shortcuts such as these unscientific methods to screen applicants that are one of the reasons why banks are holding huge NPAs.

Credit reports have become a bit more like Bollywood scripts where the impossible is supposed to be taken with a huge dose of salt. But unless some big consumer cases land up at their doorstep or some one sues them for what they are worth, it is unlikely that things are going to change for the better in the near or long term future. And I am surprised that no one has posed a blanket legal challenge to these companies considering defamation suits are filed everyday by the dozens.

As a postnote, maybe the talented folk here will take up what John Oliver did in his show Last Week Tonight. For those who are curious to know what I am talking about, search "John Oliver Credit Scores" in youtube and enjoy the 20 minute piece about how rampant the credit score fraud is in USA and how the show hilariously gave those companies a taste of their own medicine (warning : clip may contain crude language)
kingjulian is offline   Reply With Quote
Old 27th June 2017, 13:25   #62
Senior - BHPian
devarshi84's Avatar
Join Date: Jun 2005
Location: Ahmedabad - Tor
Posts: 3,996
Thanked: 119 Times
Default Re: The Devil in CIBIL (reports)

For those in favour of CIBIL and CARE, I Have an excellent case in point.

Helios and Matheson. An IT company which was taking fixed deposits from people and under a huge debt. It went under. Care and CIBIL both had provided the company excellent credit ratings only a couple of months before.

Similar bloopers exist in North American nations too. They have three companies storing credit histories where people have to fight regularly.

Last edited by devarshi84 : 27th June 2017 at 13:27.
devarshi84 is offline   Reply With Quote

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Now have Access to your CIBIL Credit report dadu Shifting gears 200 21st September 2017 09:41
..::Meet The Devil::.. karizma_devil Introduce yourself 2 28th July 2005 17:03
Maths-The devil's subject?? shravan316 Shifting gears 16 16th June 2004 01:59
The devil is here. crazydiablo4484 Introduce yourself 8 5th May 2004 14:09

All times are GMT +5.5. The time now is 11:19.

Copyright 2000 - 2018, Team-BHP.com
Proudly powered by E2E Networks