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Credit Cards / Loan Products in India => CIBIL Credit Report Score => Topic started by: Subhankar1234 on August 11, 2016, 06:03:32 PM

Title: CIBIL score is 805 but a 2 wheeler loan says Written-off
Post by: Subhankar1234 on August 11, 2016, 06:03:32 PM

Hi,
Recently I got my CIBIL score to 805. In the report a 2 wheeler loan from Bajaj Finance shows that I have an EMI pending and they have mentioned the status as Written Off. That loan was take on 2007 which ended in 2009. I was completely unaware that 1 EMI is pending as I didnt receive any calls from them and also I got transferred to another city. I have take many other personal loans and used many credit cards and all were closed without any issues or cheque bounces. Kindly let me know if this could create a problem while taking a Home loan. Also, kindly suggest from which Bank should I take loanin such cases.
Many Thanks in advance.

Title: Re: CIBIL score is 805 but a 2 wheeler loan says Written-off
Post by: chetan on August 24, 2016, 12:41:48 PM

1. When you take a Loan, aren't you always under the obligation to close it and obtain a NOC ?
2. Without NOC, how will the 2 Wheeler be transferred in your name ? Won't it be hypothecated to the Bank ?

Current Home Loan Approval depends on many factors but the Basic Principle of Home Loan Approval is Discussed here (http://www.cardbhai.com/2016/08/how-banks-evaluate-cibil-score-approve-loan-applications.html).