CIBIL credit report-remove name from defaulters list

One of my blogger friends recently applied for a credit card from a reputed bank in India. He has good balance in his saving account and is one among the premium customers of the bank. The bank obliviously accepted his request-did the address verification and forwarded an application to the head office. Having a credit card is important for a web based professional as he is required to buy web hosting, renew domains, etc. from time to time.

Later after a few weeks the lender sent him an SMS saying that the application has been rejected as his name is listed in CIBIL defaulters list. The guy is currently in a good financial position but his CIBIL history shows some old and pending loan payments reported by some other bank. CIBIL is a credit intelligence agency in India backed by private sector and public sector banks. They collect financial character of every person in the country from participating banks and assign a score. The score is calculated after understanding loans taken, payment pattern, credit card usage, spending style, etc. You may be rich but banks may not take your wealth as the primary aspect for approving a loan or credit card-but they use CIBIL score.

How to check my CIBIL Score report online:

CIBIL scores range from three hundred to nine hundred. A value near 900 makes you highly eligible for loans, credit cards and anything around 300 puts you in trouble -the defaulters list. Sometimes they provide  negative or zero values as CIR status. That means your information is not available with them or the current credit data is valid to calculate a suitable score. CIBIL now provides an online facility through which public can request their scores. You will need to  submit your personal, financial details and address proofs along with a single time payment of 450 RS to get the CIBIL credit report from the internet. CIBIL TransUnion Score and CIR are two types of reports available for purchase. The former is the complete one that includes details of credit history, dues, repayment style,  financial negligence, contact address and the CIBIL score or a person. After registering here, collect the receipt from mail, print and send it to the following address along with proofs specified in the online form. It will take a few more days to validate your data before they send the final CIBIL report in an easy to understand format.

CIBIL addressMy name is in CIBIL defaulters list-how to remove it:

So now if your CIBIL score is less than handsome value, banks will grade you as a defaulter and your credit requests will be denied. The only way to come out of this annoyance is to get the CIBIL report and find out black marks on your financial activity. If there are any dues pay the full amount. Then get a “no dues certificate” from concerned banks and request them to remove your name from the CIBIL list. You cannot plead CIBIL to pull your name from their database. They only update this data upon request from banks that have added it. So wait for three to six months for the reports to get updated. If this is not working you can contact the nearest banking Ombudsman with full details of your payment.

Tips to improve CIBIL credit score:

Never spend more than you can earn: This is the basic step for a better financial security. Don’t get more than one credit card as it might put you in debt and eventually to a low CIBIL credit score. Try you use your debit card in merchant locations- they too offer points for purchases.

Pay credit card bills and EMIs in time: Never opt for the minimum payment option in your credit card bill. It’s a trap, and you’ll  get into deep trouble with the months coming. Sometimes the banks will force you to settle credit card bills or loans at a lower rate. This will permanently affect your  credit score as it leads to a CIBIL reporting that might tabulate you as a late payer who depends on settlement to pay the bills. Instead of this ask them to convert the full amount into EMI and extend repayment time.

Save for future: Remember to keep backup cash in your savings bank account. This should be at least six times your monthly EMI. In case if you get through a financial burden the amount will help to continue paying debts and bills.

Comments

  1. GOVINDARAJ says

    I would like to know whether my name is appearing in my CIBIL defaulters list. I have default for ICICI bank credit card and Cholamandalam Finance. My date of birth is 20.10.1962.

  2. sanjayan p.s says

    CIBIL STATUS CHANGES / SERVICE REQUEST NO; 668276/ MEMBER ID BF 99981024/

    RESPECTED SIR. MY REQUEST TO CIBIL CLEARANCE PROBLEMS MY AXIS BANK CREDIT CARD NO 4718 6301 0054 4542 SETTLED 31/05/11 , HIGH CREDIT &OVER DUES AXIS CARDS WRITTEN OFF, SETTLED 31/05/11 , Please change my CIBIL MY STATUS CHANGES. YOUR VERY SUPPORTS me and my SMALL BUSINESS. I’m WORKING on getting CAPITAL LOAN AMOUNTS and YOUR FAVORABLE ORDERS.

    THANKS
    SANJAYAN P.S

  3. Admin says

    Dear Suman,

    Never publish you credit card, savings account or PAN card number in public forums and blogs. I’ve edited your comment to make it safe. It is very unfortunate that your name is still in the CIBIL defaulters list. I request you to contact the concerned ICICI bank branch to get more information on this matter. CIBIL can act only upon request from the respective banks. I hope that you have not opted for one time settlement option.

  4. SUMAN KUMAR SINGH says

    Dear Sir i used ICICI credit card and its out standing amount with interest paid on 17.02.2011 after about (900 days) My card nos was 4477*6848224**** add – P-45 Block A Krishna Vihar Delhi , Date of Birth – 15.01 1971 and my Pan no is – B*NPS*921* . About five and half month has been gone but still my name is showing in cibil so you are requested to remove my name from CIBIL

    Thanking You
    Suman Singh

  5. james says

    Hi,

    I was in defaulters list for about 8 months for not paying my credit card bill.@ months ago I settled my account with barclays bank and they have given me a settlement letter.I do have a Credit card account with ICICI but I was never into late payment.I have a personal loan from HDFC and before that with ICICI and AXIS and no complaints from anyone.When would my credit score will improve in Cibil as I settled my barclay CC 2 months ago.

    can I start applying for Loans ? Plz suggest.

  6. Bhatia.Manoj says

    Can I remove my name from CIBIL report without paying dues? Is there any banks that have no tie-up with CIBIL. Please send the details to my mail ID.

    Manoj.

  7. Admin says

    Hello Hitesh,

    When you opt one time settlement for your loan, banks report the same to CIBIL and RBI. Banks gets a part of this settled amount from RBI and at the end your name will get listed in CIBIL defaulters list. This indicates your inefficiency to pay loan EMIs/ credit card bills and in future lenders will suspect your credit applications and chances are very high to get it rejected.

  8. V KALIDASAN says

    DEAR SIR,

    I HAVE SEND ADVANCE DD-142/ AS PER REQUEST AND CIBIL FORM FILLED AND ALL DOCUMENTS MAILED . LAST 5 MONTH I HAVE FOLLOWED UP ON TEL WITH CALL CENTER S/MAILED AND ALL USELESS TILL DATE I HAVE NOT RECEIVED MY CIBIL REPORT. WHAT ACTION NEED TO BE DONE. DOES IT NEED PERSONAL FOLLOWUP AT MUMBAI CONFIRM.

    Regards,

    Kalidasan, Mobile 9326675877

  9. Hitesh says

    I’ve applied for a credit card at HDFC bank Baroda alakapuri branch. I have been told that I’m listed in CIBIL and when I checked the credit report it shows an old SBI two wheeler loan due which I had settled 2 years back. I got no dues certificate and they had agreed to remove my name from defaulters list. I request you to remove me with immediate effect as I’m badly in need of a credit card for traveling abroad.

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