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Credit Cards / Loan Products in India => India Credit Cards / Personal & Business Loans => Topic started by: sooryap on July 26, 2011, 05:45:02 PM

Title: Clearing CIBIL possible?
Post by: sooryap on July 26, 2011, 05:45:02 PM

Hi CardBhai,

I had 5-6 credit cards and defaulted on all of them and 2 personal loans which I had defaulted.

However I have settled(settlements) all the cards and personal loans 3 years ago and I am very well aware what my CIBIL report would look like. Although I'm not looking at borrowing now but I still wanted to confirm if at all in the future I would get any help from any type of financial institutions for any credit facility?

Title: Re: Clearing CIBIL possible?
Post by: cardbhai on July 27, 2011, 11:12:30 AM

Nope. Forget it at least for the next 7 years. Depending on how long CIBIL, Experian and other Rating Companies preserve the defaulters data, you will be in bad shape as far as loans are concerned.