[arjithin]

Originally Posted by triedeverything

It doesn't make sense to pay them to correct mistakes that they have created.

common sense says so, but practicality says other way. Its better to get one report of yours and correct the errors than running around when you really need your score. Say you want to apply for a loan.

CIBIL is going to continue, they are building more and more data; As we delay the correction of errors, our chances of getting it corrected it also is coming down. for eg, in my case, 5 out of 6 credit cards shown against my PAN are not mine, and 3 out of my 4 credit cards are not in the report. The invalid credit cards are pulling my score down, where as my missing cards should have helped me to get a good score. More over, some of those invalid credit cards are already written off 5 years back. If I delay my dispute with them for another 5 years, those banks may not even have records on those credit cards.

With the introduction of our Unique identity number, these issues should get resolved to a large extend. But I will still suggest to buy one report and correct it if needed.

According to CIBIL customer service, if they determine that the correction needed is at their end, they will issue a free updated credit report.

Anyone having experience of correcting their report?

[lazybrain]

Originally Posted by arjithin

According to CIBIL customer service, if they determine that the correction needed is at their end, they will issue a free updated credit report.

Anyone having experience of correcting their report?

Happened with me couple of years back. CIR was showing up credit card account information which never belonged to me, though the status of that credit card was open and there was no negative remarks like Settled, W/O etc. But still why should i accept data or information which does not belong to me! So i wrote to CIBIL customer care about the error and they promptly responded saying it was mistake from CIBIL and they have rectified the error in my CIR by deleting the wrong credit card info. I asked them for the corrected/updated CIR and they asked me to buy it again. I even sent them a stinker saying i have already purchased the report and why should i pay again to obtain corrected report when the mistake was from your end? They didn't even bother to respond

Not sure from where you got this info. about issuing of free updated CIR but at least 2 years back that was not the case.

[F150]

Received an email from my bank, that I have a pre-approved car loan of 15 lacs.

I think I am in the good books of the bank.

[groom]

got my CBIL report yesterday.
Impressed by the comprehensive nature of the report
Has all the details pertaining to all closed and currently held Credit cards, loan details.

And the status was up-to-date without any errors. felt nice seeing a handsome score too. :-)

CBIL system or process seems immaculate. Data errors are likely by the bankers and not CBIL themselves ?

[arjithin]

Originally Posted by lazybrain

Not sure from where you got this info. about issuing of free updated CIR but at least 2 years back that was not the case.

May be policies changed over last 2 years.

Happy to report that all my corrections are done and cibil sent me a new credit report free of cost. Corrections were done in 2 weeks, redespatching the credit report took another week(as claimed by cibil). And getting the credit report in my inbox took another week and 4 follow ups with customer service.

My report contained errors from 3 different banks; hence it was easy to convince cibil that the mistake is theirs.

Bad news is that the credit score came down by 20 pts after removing 3 default cards :(

[bnzjon]

Does non maintenance if minimum balance on savings account pull down the credit score ?

My friends wife doesn't have any income, no credit cards, no loans and has a savings account which is dormant (not maintaining the minimum balance required). Her Cibil score was 725.

Why should be the score so low ?

[arjithin]

Originally Posted by bnzjon

Does non maintenance if minimum balance on savings account pull down the credit score ?

I don't think so. All credit scores are based on one's credit history (loans, credit cards, line of credits etc).

My friends wife doesn't have any income, no credit cards, no loans and has a savings account which is dormant (not maintaining the minimum balance required). Her Cibil score was 725.

Why should be the score so low ?

Its because her 'credit' history is zero ( as per info given). A person with no credit records is still a risk to banks as they do not know the applicants willingness to repay credit .
725 is not a 'bad' score either.

[bnzjon]

Originally Posted by arjithin

Its because her 'credit' history is zero ( as per info given). A person with no credit records is still a risk to banks as they do not know the applicants willingness to repay credit .
725 is not a 'bad' score either.

Thanks buddy.

Got these article from ICICI and Cibil websites which will be useful to fellow Bhp'ians.
http://www.icicibank.com/cibil.html
https://www.cibil.com/sites/default/files/pdf/faqcs.pdf

Quoting the relevant info from the link :

Are all customers' names reported to CIBIL?
Only borrowal accounts, i.e. those customers who have availed of a loan or a credit card from a CIBIL member are reported to CIBIL. Details of liability accounts such as savings, fixed deposits and recurring deposits are not shared with CIBIL.

[lambuhere1]

How to get "written off" from CIBIL report

Need your inputs

My cibil score is 630. In 2004, there was a dispute raised with SCB CC payment and the bank closed the same. But in the CIBIL report, it is mentioned as "written off". Housing loan guy called me saying that there is this "written off" statement which needs to be justified. If my memory serves me right, SCB sent me a documentation that they are closing this disputed amount and no dues are present w.r.t the CC. But I doubt if I have the said letter. Can we get this letter from SCB ?

What is the next steps in getting the documentation through for approval of ths housing loan ? Amount for the SCB which closed was for around 40 K. By the way, applied loan with LICHF.

Need your inputs urgently guys.

Appreciate your help

[F150]

Originally Posted by lambuhere1

How to get "written off" from CIBIL report

Need your inputs

My cibil score is 630. In 2004, there was a dispute raised with SCB CC payment and the bank closed the same. But in the CIBIL report, it is mentioned as "written off". Housing loan guy called me saying that there is this "written off" statement which needs to be justified.

Appreciate your help

Please add more details abou the dispute and how it was settled ?

[arjithin]

Originally Posted by lambuhere1

How to get "written off" from CIBIL report

Need your inputs

My cibil score is 630. In 2004, there was a dispute raised with SCB CC payment and the bank closed the same. But in the CIBIL report, it is mentioned as "written off". Housing loan guy called me saying that there is this "written off" statement which needs to be justified. If my memory serves me right, SCB sent me a documentation that they are closing this disputed amount and no dues are present w.r.t the CC. But I doubt if I have the said letter. Can we get this letter from SCB ?

What is the next steps in getting the documentation through for approval of ths housing loan ? Amount for the SCB which closed was for around 40 K. By the way, applied loan with LICHF.

Need your inputs urgently guys.

Appreciate your help

Was this 40k written off by the bank? What was the exact settlement? Why was this dispute raised? From the limited information you provided, it looks like that is a legitimate entry in cibil report.

I guess the explanation will carry some importance in the banks decision to approve your loan as your score is 630. Talk to the home loan provider on what kind of explanation are they looking at and provide the same.

Originally Posted by lambuhere1

How to get "written off" from CIBIL report

Need your inputs

My cibil score is 630. In 2004, there was a dispute raised with SCB CC payment and the bank closed the same. But in the CIBIL report, it is mentioned as "written off". Housing loan guy called me saying that there is this "written off" statement which needs to be justified. If my memory serves me right, SCB sent me a documentation that they are closing this disputed amount and no dues are present w.r.t the CC. But I doubt if I have the said letter. Can we get this letter from SCB ?

Need your inputs urgently guys.

I think, SCB will not issue any such letters now (If any settlement has been done in past.). If the card was closed properly without any dues, the NOC will be issued any time. That too at a marginal cost, because SCB gives nothing for free . Try checking with them. Do you have any other option?

LL: Always take a hard copy of NOC, when you close any CC. Have it in your regular certificates folder. Because, you never know, when you need it.

[YVES]

How Long (which Year) is the credit history stored by CIBIL from, Before 2008 there was not that much of computerization in banks

[Firebird]

Originally Posted by YVES

How Long (which Year) is the credit history stored by CIBIL from, Before 2008 there was not that much of computerization in banks

I can see personal loan from 2000, home loan availed in 2004 and car loan from 2005 and 2006.

Not sure data before that. I was surprises to see all credit cards closed before and current credit card also.

It is good to get the report generated if on is planning to avail any loan.

[Navneet]

I got my CIBIL score online for the first time in Feb 2013. My score was 817. In Jul 2013, I bought something through Bajaj Finance (12 installments, 2 installments in advance, balance to be paid over 10 months, EMI 4400 odd, 0% interest, 600/- odd as processing charges). Apparently, Bajaj Finance also queried about my CIBIL score as it was mentioned in the online loan statement that they sent me. At that time (Jul 2013) my score was 821.

Now in Dec 2013, i again checked my score. It has come down to 800 . I have never defaulted on any payment. All my dues are always paid in full before due date. Any idea as to why has my score dropped by 21 points.