India Investment, Stocks, Credit Card and Retail Forum
Credit Cards / Loan Products in India => India Credit Cards / Personal & Business Loans => Topic started by: Preet1985 on September 16, 2012, 05:01:26 PM
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Helllo Sir
I had an education loan of Rs 1,47,000 but after passing out in 2008 due to job crisis I failed to pay emi for 1 year which made it to Rs 2,12,000. After that I called up the bank & started paying Rs 2500 for the last 3 years.Now due to an emergency I have applied for personal loan & I do have a credit card with no defaults. So will it affect my credit score & the loan may get rejected.
Thanks
Preet1985
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1. Credit Score Gets affected only when you Fail to make the Payments On Time.
2. Now that you have been paying for the Last 3 Years, check out this post http://www.dalalstreet.biz/forum/cibil-credit-report-score/understanding-accounts-enquiries/ So CIBIL Maintains Data for 3 Years only thus it will be UPDATED as Regular and Current. You have repaired your credit yourself by regularly paying for 3 years.
Thus, technically speaking, you should not face any problem in getting a PL, if you are salaried.
Also make sure that you don't overstretch yourself in your payment obligations because you will end up in a crisis.