[Resolved]  CIBIL — Credit Rating & Repayment History of EMIs

I am really worried on the ratings given by CIBIL for Personal Loan Consumers like me as it is CIBIL which adds difficulty to any person like me who has defaulted even a Single EMI towards Personal Loan (or) Any other loan. The reason being, I am paying Rs. 8, 659 towards 3 Personal Loans every month. For the last 2 to 3 months, I am facing difficulty in paying the same amount due to some personal commitments. I thought of taking a single personal loan that covers the total outstanding repayments of my 3 loans. If I do this way, I can write off all my three loans at a time and pay around Rs. 3000 (Approx) for the loan I thought of taking. Paying Rs. 3000 Per Month is more easy for me than paying Rs. 8, 659 Every Month.

I could not take a loan as I planned as all these EMI bounces are recorded in CIBIL and Financial Institutions are very much keen on the repayment history in CIBIL, and does not think about the benefit of Personal Loan customers like me.

CIBIL and Financial Institutions must think of this problem and must do something. I hope, All loan defaulters will agree to what I am writing here.