CIBIL Defaulter List

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CIBIL Defaulters List Guide And Information

No one would like to find his or her name on the CIBIL defaulters list. is fully committed to keeping your name off the list through 2016 going forward. If you require assistance in handling your credit or improving your score points is the right people to offer you these services. You can as well decide to join credit Smart forums and deliberate credit matters other people working toward financial success.

Some people may think that the CIBIL list is a myth however its reality. Unfortunately, some people are on the list. It is important to check if you are among the unfortunate group of people. This article will elaborate more on checking the various guidelines and procedures that you need to follow in clearing your name from the list.

CIBIL FAQ’s                    Credit Card Score

CIBIL Score                    Credit Card Benefits

CIBIL holds all the information about banks, lenders, financial organizations and even borrowers themselves. They are in charge of tracking all the financial data. When you apply for a loan, the banks ask you to submit a lot of information. This helps them acquire a credit information report on you. The data given is well compiled and efficiently analyzed to evaluate if you are creditworthy. The information requested includes outstanding loans, payment history on credits, paid off loans.

The information needed on the defaulter’s list is the Control Number. Each time financial institutions enquires about CIR from CIBIL the control number is given out. It’s a number of nine digits that is personally unique thus making your credit information easily accessible and traceable. Your CN is on the right-hand upper corner of the CIR.

Getting your CIR is not free of charge. You are required to purchase your CIR and CIBIL score from After payment, you are to receive your most current report credit score and detailed CIR information showing your closed and open loans. If you defaulted on a loan payment, CIR reflects it. It is important for one to take the necessary steps to remedy the situation. This enables you to be removed from the defaulter’s list.

If you are hesitant about paying for these services. Credit smart offers scores calculator tools. It is quite useful in helping one to estimate his or her CIBIL score points. On the site, you are only asked a few questions which you are required to answer truthfully. It is a good and efficient way to monitor your financial changes.

For your name to be removed from the defaulter’s list, it only takes a few days. However, under certain conditions, it may take longer. This situation may be due to errors arising such as wrong keyed in data in terms of PAN name, passport number, gender even address. In case this happens you are required to make contact with CIBIL.

There are several serious seasons like loan defaults that can make name removal process take longer than expected; the time will vary according to how the responsible financial institution will respond to your request to clear the accumulated debt. However, if they drag the situation too long, you can write a letter of complaint and submit it to Banking Ombudsman.

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FAQs is an acronym for Frequently Asked Questions. There are various questions on this topic that people would like answers to. This article will explain and elaborate more on the queries.

What Is CIBIL?

CIBIL, this is an abbreviation for Credit Information Bureau India Limited. It is the first and only bureau of credit information in India. It is responsible for compiling and distributing information on credit report accounts of a debtor to its members. The information is put together in a report comprising of credit scores facilities that a person or a firm has given out.

Who CIBIL members are?

All leading banks, financial institutions, credit card firms, state financial corporations, non-banking financial firms, and housing finance corporations. These establishments are all members.

What is the main function of CIBIL?

Its primary function is gathering all the information about a person or a company’s credit account. Thereafter the information is analyzed and distributed to all its members when need be. The provided information is quite useful. It assists the financial institutions in making well-informed decisions on lending money.

CIBIL Defaulter List               CIBIL Score         

Credit Card Score                    Credit Card Benefits

Which are the sections that CIBIL provide reports on?

The bureau is responsible for providing necessary information on the commercial segments and individuals. In the consumer section, all the credit facilities used by individuals are properly analyzed. Commercial segments include the facilities made available by companies; private limited company, proprietorship, and partnership.

What a credit report is?

This is a well complied documented record of a person’s credit history. All the information entailing a persons credit facilities available and the loans the borrower has taken are shown in it. This report provided by the CIBIL to assist lenders in making the right decisions about loanapplicants efficiently.

What methods does CIBIL use in gathering the information?

The main sources of information are the members. All the required details about a person are gathered from the banks, financial institutions, and other members. However, CIBIL can supplement the availed information with the public domain to create profiles that have more comprehensive details and a snapshot of the borrowers’ history in finances.

What are the security actions taken by CIBIL to guarantee the Security of data?

Data security is a very important aspect in the bureau; themeasures that have been put in place according to global standards on best practices. They are always willing to corporate when international audits are been carried out. This prevents frauds and promotes transparency. To safeguard information, CIBIL adapts the latest technology that ensures proper security. Below are some of the key characteristics of its module for security.

  1. The information is distributed on the basis of need to know only. The unnecessary parties do not have access to the information.
  2. Date center has top notch security monitoring technology. It implements the use of the biometric access system, surveillance cameras and control access devices.
  3. It uses a secure firewall, vulnerabilityassessment technology and intrusion detection network to ensure information security.
  4. It uses the latest advanced smoke and fire detection and suppression system. This aids in early detection and damage control.
  5. Uses cryptographic solutions when the information is received or shared through physical media.
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CIBIL Score Need 750+ Points for Bank Loans:

There is a great difference between an average credit score and an excellent one. 750 and above points fall into the great category. Everyone should have such a score to display. There are various reasons why banks ask for such a score.

A banking system functions to maintain the financial system regulations. They use both small and large factors to make this cash flow machine operate steadily. This means regulating borrowing limits on several fronts. If you take out numerous loans the CIBIL score is required to reflect that information.

Therefore, if you happen to visit another bank borrowing another loan the system will reflect that you are hungry for credits, therefore, you will be restricted. This even happens if you paid off all your previous loans without default. You became a risky candidate to qualify for a loan. It displays a valid reason why banks require high credits since such people reflect bad score points.

CIBIL Defaulter List                 CIBIL FAQ’s           

Credit Card Score                      Credit Card Benefits

The system happens to be well secured unless a person manages to find a genius way to penetrate it. So as to ensure its security the scores are worked on by humans and machines. The experts add individual comments on your credit report and loan applications. They are required to write comments and notes on personal profiles but the comments are from lenders, not them.

Many banks give you a chance to settles defaulted loans. This can be done through various options. They can decide to lower your interest rates or offer you other alternative options depending on your case. Sometimes a person is prompted to find other ways to initiate debt-closure outside provided options. Before making a decision on the option to go with, you need first to properly analyze the situation.

Banks providing options for debt closure is against their policy regardless of what they are mostly willing to help you out in closing your debt. However, your credit score report will have to reflect that. Either your debt was settled or written off. When you delay payments by just a few days this will still be reflected.

Any of the reasons above will affect your credit score negatively, therefore, the 750 point mark is not easily attained. The banks are strict because they would like to reduce the risk levels as much as they can. If your report reflects that you are a defaulter in payments, hungry for credits, like to over-leverage and have problems with your taxes. The probability of your loan request going forward is very small.

You are required to efficiently manage finances and keep things in order. Live a lifestyle that is affordable to you. Make sacrifices when need is and you will absolutely achieve getting the 750 points that most people fall short off.

A person with these points will most definitely be favored by banks and other financial institution. This shows that you are a person who is careful in handling finances and can be trusted, therefore; you won’t have a hard time accessing loans at fair interest rates.

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Credit Card Benefits

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Use Credit Cards Smart to Save Money

 Every time you use a credit card in most cases the bank awards you get a number of reward points about 2 points on every 75 INR spent. The number of reward points increases with the number of purchases made with the credit card. This reward points can be converted into money. If you spend 16 lakhs a year to pay your bills using your credit card then you get 16k points which are converted to INR 5820. This is all money saved.

Using credit cards allows you interest-free billing. Most credit cards have a maximum interest free period of 50 days. This means that if your bill arrives on the 18thevery month any transaction done on the day after, the 19th, will be subject to the interest-free period.

CIBIL Defaulter List                 CIBIL FAQ’s         

Credit Card Score                      CIBIL Score

In the consecutive days, the interest-free period will shrink by a day. To get the most benefits from the interest-free period any transaction should be made on the day after the billing as it is day 50 of the period. For example, if you buy a new TV worth 1lakhs the day after billing you will not be charged interest for that 1lakh for 50 days. This money if carefully invested can yield returns within those 50 days. One should, however, avail to the Auto debit facility to ensure the money is repaid from your account before on the last day.

If you make around 3 luxury purchases in a year and convert them into EMI’s you can save quite a bit of money. Most of the banks in India have a feature that allows their customers to convert their purchases into interest-free EMI’s for 3, 6, or 9 months. Any expensive purchases made on the day after billing can be subject to a free credit for 10 months

A number of credit cards have a cashback offer that comes into play when you shop from certain retail stores or booking plane tickets from certain online flight portals. For example, if the cashback offer from a specific online flight portal is INR 500 when you travel 5 times that year you save INR 2500. It has thus helped you save a substantial amount of money.

Banks sometimes offer discounts and offers on purchases made using credit cards. You can also get a 1or 2 percent discount on purchases made using your credit card. Accessing this benefits can allow you to save over a thousand a year.

Using a credit card can help you pay more than just the minimum amount required. In some cases after billing one may not be able to pay the whole amount. It is however advised to pay more than just the minimum amount. Most lenders like when the customers pay just the minimum as they end up collecting a lot of money in the long run. For example, you buy a pair of jeans for INR 6000 and pay just the minimum amount every month which is 3 percent of the total amount a month which is INR 180. You will end up paying for the jeans for 17 years even without considering any other purchases made.

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