Home Forums Banking Expert What should I do if my CIBIL report includes loans not taken by me?

This topic contains 1 reply, has 2 voices, and was last updated by Ashok Goyal Ashok Goyal 8 months, 2 weeks ago.

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  • #288
    Georgianna John
    Anonymous

    One of my uncles went to the HDFC Bank to get Car Loan. The Bank Manager drew the CIBIL Credit Report and my uncle was shocked to see that 3-4 loans were appearing in the CIBIL Report, whereas my uncle had not taken any such loans. The CIBIL Report did not disclose the names of the lending institutions, loan account number, purpose, sanctioned amount and other particulars. How can my uncle get rid of those loan accounts, not belonging to my uncle, so that CIBIL report reflects my true credit rating and score.

  • #290
    Ashok Goyal
    Ashok Goyal
    Moderator

    Hi Sanjeev, Almost all the public sector and private sector banks and financing institutions check the credit rating of their prospective borrowers from credit rating agencies like CIBIL, Experian, Equifax and CRIF High Mark. Most of the big banks rely on the CIBIL Report as CIBIL, Credit Bureau of India Limited is the oldest credit rating agency in India providing Credit Reports to the lending institutions. It is operating in India and has credit data since the year 2000. The individuals, who either settle their accounts or do not pay their loans forcing the banks to write off their dues, are now getting reflected in the Credit Reports. As the banks destroy their old records beyond 8 years as per Bankers’ Book Evidence Act, the individuals with “Settled” or “Written Off” accounts find it difficult to get their grievances redressed by the Banks who have reported the accounts to CIBIL or other rating agencies. Sometimes strangers’ accounts creep into the Credit Reports of Individuals. It takes a lot of time an effort to knock at the servers of CIBIL for getting the strangers’ accounts knocked out of the report. You can book your appointment with professionals consultants with rich experience in dealing with CIBIL Reports.

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