how fast can the name be cleaned??

[harshit]

hello,,
my father is in defaulter's list of cibil because of 2 card settlements. now we want to apply for car loan but it is not approved (obviously) . We have all the settlement letters and it has been more than 6 months on default. at the same time, my father holds a salary a/c with hdfc, being well mantained from the past 10yrs, my question is that if we apply loan from hdfc, will it be granted??
if no, then what should we do?? should we go to the respective banks with settlement letter and get our name removed from cibil?? in such a case, how much time will it take for our name to be clean out of cibil's defaulter list (provided i go today)??
i heard every bank sends report to cibil every 3 months,, so all banks might send it in march end??

[cardbhai]

hello,,
my father is in defaulter's list of cibil because of 2 card settlements. now we want to apply for car loan but it is not approved (obviously) . We have all the settlement letters and it has been more than 6 months on default. at the same time, my father holds a salary a/c with hdfc, being well mantained from the past 10yrs, my question is that if we apply loan from hdfc, will it be granted??
if no, then what should we do?? should we go to the respective banks with settlement letter and get our name removed from cibil?? in such a case, how much time will it take for our name to be clean out of cibil's defaulter list (provided i go today)??
i heard every bank sends report to cibil every 3 months,, so all banks might send it in march end??

1. Yes you should approach the bank to get your father's name cleared off the list
2. It will take some time but not more than 60 days
3. Banks upload the data to CIBIL every month
4. Don't apply for LOAN until it is removed from CIBIL list. Loans by HDFC are processed in some [central unit] other city and they just look at CIBIL Data. If they are willing to accept statements of settlement and OVERLOOK the matter they may approve the loan but will attach salary account.

[harshit]

ok thanx for quick reply,, wasnt expecting that..
so, where do i start?? what do i take to banks and who do i meet?? (the manager??)

and what do you mean by "attach salary account" ??
and there's anothet doubt.. I recently opened a current a/c with OBC, how long do i hav to mantain that a/c so that i can be eligible for car loan of say 5lacs??
i have shown turnover of 20lac..

[vinay.patil412]

Hello Sir,

I had a credit card from Citi Bank for which i did the full payment in December, 2009 however my name is still appearing in CIBIL. I have applied for personal loan from various bank and its not getting approved. Please can you suggest how to go about this.

Regards,

Vinay Patil

[komal]

ok thanx for quick reply,, wasnt expecting that..
so, where do i start?? what do i take to banks and who do i meet?? (the manager??)

and what do you mean by "attach salary account" ??
and there's anothet doubt.. I recently opened a current a/c with OBC, how long do i hav to mantain that a/c so that i can be eligible for car loan of say 5lacs??
i have shown turnover of 20lac..

Attach salary Account Means - If you owe a bank any amount and your company deposits salary in the same account, the Bank will just suck the money as soon as your salary is deposited by your company.

Your eligibility of Car Loan depends on your Credit History and Income Tax Files. Not on how many days since you have opened an account with OBC.

[komal]

Hello Sir,

I had a credit card from Citi Bank for which i did the full payment in December, 2009 however my name is still appearing in CIBIL. I have applied for personal loan from various bank and its not getting approved. Please can you suggest how to go about this.

Regards,

Vinay Patil

1. Give a Final Warning to the BANK to clear your name within 21 Working Days.
2. If they don't do as desired, file a complaint with RBI Ombudsman depending on your location http://www.rbi.org.in/commonman/English/Scripts/AgainstBankABO.aspx

All correspondence must be done in writing with proof of delivery speedpost / registered AD.

[harshit]

Hello Sir,

I had a credit card from Citi Bank for which i did the full payment in December, 2009 however my name is still appearing in CIBIL. I have applied for personal loan from various bank and its not getting approved. Please can you suggest how to go about this.

Regards,

Vinay Patil

shouldnt you wait atleast 6 months??

[cardbhai]

shouldnt you wait atleast 6 months??

6 Months - ?? No Thats too LONG. If you have read it in Writing somewhere let me know I will write to RBI to get it changed. Life is Short and 6 Months to get just a mistake rectified is too much time and an uncalled PENALTY on an Honest Citizen.

Thing is Banks Upload Data Every Month and in that it can be rectified...