Education LOan

[Preet1985]

Helllo Sir

I had an education loan of Rs 1,47,000 but after passing out in 2008 due to job crisis I failed to pay emi for 1 year which made it to Rs 2,12,000. After that I called up the bank & started paying Rs 2500 for the last 3 years.Now due to an emergency I have applied for personal loan & I do have a credit card with no defaults. So will it affect my credit score & the loan may get rejected.

Thanks
Preet1985

[chetan]

1. Credit Score Gets affected only when you Fail to make the Payments On Time.

2. Now that you have been paying for the Last 3 Years, check out this post http://www.dalalstreet.biz/forum/cibil-credit-report-score/understanding-accounts-enquiries/ So CIBIL Maintains Data for 3 Years only thus it will be UPDATED as Regular and Current. You have repaired your credit yourself by regularly paying for 3 years.

Thus, technically speaking, you should not face any problem in getting a PL, if you are salaried.

Also make sure that you don't overstretch yourself in your payment obligations because you will end up in a crisis.