Car Forum - Ask & Answer Questions Online

Welcome to Mycarhelpline.com Automotive Forum !!

  1. VICKY
  2. Finance, Insurance
  3. Tuesday, October 20 2015
Hi Sir, I got my CIBIL report today. I had delayed payment in creditcards before which then i closed without settlement in 2012. Since then i do not have any CC or loan with the bank. But in todays report i see a overdraft amount taken of 10000 is shown as LSS.

I think i took this overdraft when i was in college in 2006. Its showing LSS. My score is 650 now. How should i improve my score. Recently i applied online for a loan and its also shown in the report, but loan enquiry it was not an actual loan application.
Admin Accepted Answer
0
Votes
Undo
Hello,

As referred, Delayed Payments in Credit Card - in how many days does the outstanding gets cleared off
Does it gets delayed by 30 days, 60 days or 90 days
Reasons - Bank treats in financial language as negative repayment if ever - credit card outstanding gets delayed twice or more for 60 days or once even in 90 days

Though the good part is that - the card was closed without settlement
Also - LSS implies loss been marked by Bank against the OD. Its better to pay off the OD - so that LSS can be removed by bank against the outstanding.

Next would be to improve in the Credit Score
As your CIBIL score is already low - the probability of getting a new loan or credit card would be low
So - its better to take a credit card or loan against Collateral FD (i.e Insta Credit Card as issued by banks against Fixed Deposit in Bank or take a Secured loan against collateral Fixed Deposit ) and keeps on paying on the outstanding on time

It would help in building credit score - by making regular EMI payment of loan or credit card bill outstanding and can see score improving in 12 to 18 month time and at best after 24 month to improve in credit rating and profile.


  1. more than a month ago
  2. Finance, Insurance
  3. # 1
anbarasan Accepted Answer
0
Votes
Undo
Sir I want to apply a housing loan but the bank checks my cibil score it was 649 , the said that you have a overdraft amount of RS 10 was sanctioned and it was not settled. I don't know how it was sanctioned to me how can I check the sanctioned amount pls help me sir
  1. more than a month ago
  2. Finance, Insurance
  3. # 2
Kiran Accepted Answer
0
Votes
Undo
As your CIBIL score is already low - the probability of getting a new loan or credit card would be low
So - its better to take a credit card or loan against Collateral FD (i.e Insta Credit Card as issued by banks against Fixed Deposit in Bank or take a Secured loan against collateral Fixed Deposit ) and keeps on paying on the outstanding on time
  1. more than a month ago
  2. Finance, Insurance
  3. # 3
Nivedita Mahato Accepted Answer
0
Votes
Undo
I want to apply a education loan but the bank checks my cibil score it was 731 , they said that you have a overdraft amount of RS 9 was sanctioned and it was not settled. I don't know how it was sanctioned to me how can I check the sanctioned amount and pay the same?
  1. more than a month ago
  2. Finance, Insurance
  3. # 4
  • Page :
  • 1


There are no replies made for this post yet.
Be one of the first to reply to this post!
Guest
Submit Your Response
Upload files or images for this discussion by clicking on the upload button below. Supports gif,jpg,png,zip,rar
• Remove Upload Files (Maximum File Size: 1 MB)
You may insert polls into your post. The poll would then appear in the post.
Vote Options
Captcha
To protect the site from bots and unauthorized scripts, we require that you enter the captcha codes below before posting your question.